Van Cleef Asset Management Inc held its stake in 3M Company (NYSE:MMM) during the first quarter, according to its most recent filing with the SEC. The fund owned 1,180 shares of the conglomerate’s stock at the end of the first quarter. Van Cleef Asset Management Inc’s holdings in 3M Company were worth $226,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the stock. Cable Hill Partners LLC increased its stake in 3M Company by 2.4% in the first quarter. Cable Hill Partners LLC now owns 635 shares of the conglomerate’s stock valued at $122,000 after buying an additional 15 shares during the last quarter. Reilly Financial Advisors LLC boosted its stake in 3M Company by 3.9% in the first quarter. Reilly Financial Advisors LLC now owns 642 shares of the conglomerate’s stock valued at $123,000 after buying an additional 24 shares during the period. TLP Group LLC bought a new stake in 3M Company during the third quarter valued at approximately $127,000. Cascade Investment Advisors Inc. acquired a new position in 3M Company during the fourth quarter valued at about $127,000. Finally, Jackson Grant Investment Advisers Inc. boosted its position in 3M Company by 0.6% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 714 shares of the conglomerate’s stock valued at $128,000 after buying an additional 4 shares during the last quarter. 65.74% of the stock is owned by institutional investors and hedge funds.
Shares of 3M Company (NYSE:MMM) traded up 0.06% on Monday, hitting $213.36. The stock had a trading volume of 1,667,639 shares. 3M Company has a 1-year low of $163.85 and a 1-year high of $214.00. The firm’s 50-day moving average is $201.26 and its 200 day moving average is $187.83. The stock has a market cap of $127.43 billion, a P/E ratio of 25.80 and a beta of 1.10.
3M Company (NYSE:MMM) last released its quarterly earnings results on Tuesday, April 25th. The conglomerate reported $2.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.07 by $0.09. 3M Company had a return on equity of 44.95% and a net margin of 16.78%. The firm had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.48 billion. During the same quarter last year, the business posted $1.95 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. Equities analysts forecast that 3M Company will post $8.95 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, June 12th. Shareholders of record on Friday, May 19th were paid a $1.175 dividend. This represents a $4.70 annualized dividend and a dividend yield of 2.20%. The ex-dividend date was Wednesday, May 17th. 3M Company’s dividend payout ratio is 56.83%.
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A number of research analysts have recently weighed in on MMM shares. Zacks Investment Research upgraded 3M Company from a “hold” rating to a “buy” rating and set a $237.00 price target for the company in a research report on Monday. Morgan Stanley raised their price target on 3M Company from $178.00 to $193.00 and gave the company an “underweight” rating in a research report on Friday, June 9th. Bank of America Corporation reaffirmed a “buy” rating and set a $225.00 price objective (up previously from $208.00) on shares of 3M Company in a research note on Tuesday, June 6th. Citigroup Inc. reaffirmed a “buy” rating and set a $229.00 price objective (up previously from $220.00) on shares of 3M Company in a research note on Saturday, June 3rd. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $234.00 price target on shares of 3M Company in a research note on Thursday, June 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $201.10.
In other news, insider James L. Bauman sold 14,616 shares of the firm’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $195.81, for a total value of $2,861,958.96. Following the completion of the transaction, the insider now owns 16,458 shares in the company, valued at approximately $3,222,640.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Marlene Mary Mcgrath sold 14,766 shares of the firm’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $194.88, for a total value of $2,877,598.08. Following the completion of the transaction, the vice president now owns 24,480 shares of the company’s stock, valued at approximately $4,770,662.40. The disclosure for this sale can be found here. Insiders sold a total of 33,698 shares of company stock worth $6,593,443 in the last three months. Company insiders own 0.58% of the company’s stock.
3M Company Company Profile
3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.
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