Bellecapital International Ltd. Grows Holdings in 3M (NYSE:MMM)

Bellecapital International Ltd. grew its stake in 3M (NYSE:MMMGet Rating) by 84.4% during the third quarter, Holdings Channel.com reports. The fund owned 6,856 shares of the conglomerate’s stock after acquiring an additional 3,137 shares during the period. Bellecapital International Ltd.’s holdings in 3M were worth $758,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MMM. XML Financial LLC increased its position in shares of 3M by 141.0% in the 3rd quarter. XML Financial LLC now owns 6,906 shares of the conglomerate’s stock valued at $763,000 after purchasing an additional 4,040 shares during the last quarter. BOK Financial Private Wealth Inc. boosted its stake in 3M by 702.1% during the 3rd quarter. BOK Financial Private Wealth Inc. now owns 1,500 shares of the conglomerate’s stock worth $247,000 after purchasing an additional 1,313 shares during the period. GW Henssler & Associates Ltd. lifted its stake in shares of 3M by 37.3% in the 3rd quarter. GW Henssler & Associates Ltd. now owns 71,081 shares of the conglomerate’s stock worth $7,854,000 after acquiring an additional 19,314 shares during the period. Empirical Finance LLC lifted its stake in shares of 3M by 19.1% in the 3rd quarter. Empirical Finance LLC now owns 14,035 shares of the conglomerate’s stock worth $1,551,000 after acquiring an additional 2,250 shares during the period. Finally, Cypress Capital Group lifted its stake in shares of 3M by 3.1% in the 3rd quarter. Cypress Capital Group now owns 33,485 shares of the conglomerate’s stock worth $3,700,000 after acquiring an additional 992 shares during the period. 65.61% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 3M news, EVP Kevin H. Rhodes sold 5,703 shares of the company’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $126.40, for a total transaction of $720,859.20. Following the completion of the sale, the executive vice president now owns 2,033 shares of the company’s stock, valued at $256,971.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 3M news, SVP Rodriguez Beatriz Karin Chavez sold 1,071 shares of the company’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $126.28, for a total transaction of $135,245.88. Following the completion of the sale, the senior vice president now owns 3,313 shares of the company’s stock, valued at $418,365.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kevin H. Rhodes sold 5,703 shares of the stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $126.40, for a total value of $720,859.20. Following the completion of the sale, the executive vice president now directly owns 2,033 shares of the company’s stock, valued at $256,971.20. The disclosure for this sale can be found here. Company insiders own 0.39% of the company’s stock.

3M Stock Up 0.4 %

Shares of NYSE MMM traded up $0.51 during trading hours on Wednesday, hitting $115.51. The stock had a trading volume of 585,565 shares, compared to its average volume of 3,241,660. The company has a market capitalization of $63.85 billion, a P/E ratio of 10.02, a P/E/G ratio of 1.27 and a beta of 1.00. The firm’s 50-day moving average price is $124.56 and its two-hundred day moving average price is $126.19. 3M has a 52 week low of $107.07 and a 52 week high of $175.25. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.97 and a current ratio of 1.56.

3M (NYSE:MMMGet Rating) last announced its quarterly earnings results on Tuesday, January 24th. The conglomerate reported $2.28 EPS for the quarter, missing the consensus estimate of $2.34 by ($0.06). The firm had revenue of $8.10 billion during the quarter, compared to the consensus estimate of $8.09 billion. 3M had a net margin of 18.91% and a return on equity of 40.03%. The company’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.31 EPS. Analysts anticipate that 3M will post 10.17 EPS for the current fiscal year.

3M Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 12th. Shareholders of record on Friday, November 18th were given a dividend of $1.49 per share. The ex-dividend date of this dividend was Thursday, November 17th. This represents a $5.96 dividend on an annualized basis and a yield of 5.16%. 3M’s payout ratio is currently 51.92%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MMM. Credit Suisse Group cut their price target on shares of 3M to $127.00 in a report on Thursday, October 27th. Royal Bank of Canada decreased their target price on shares of 3M from $113.00 to $106.00 in a research report on Wednesday. Wells Fargo & Company reduced their price target on shares of 3M from $125.00 to $115.00 in a research report on Wednesday. Morgan Stanley lifted their price objective on shares of 3M from $108.00 to $110.00 and gave the company an “underweight” rating in a research note on Wednesday, October 26th. Finally, The Goldman Sachs Group dropped their price objective on shares of 3M from $149.00 to $129.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 11th. Three research analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. According to MarketBeat.com, 3M presently has a consensus rating of “Hold” and a consensus price target of $131.21.

3M Company Profile

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3M Co is a technology company, which manufactures industrial, safety, and consumer products. It operates through the following segments: Safety and Industrial, Transportation and Electronics, Health Care, Consumer, and Corporate and Unallocated. The Safety and Industrial segment consists of personal safety, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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