Stephens Inc. AR Raises Stock Position in 3M (NYSE:MMM)

Stephens Inc. AR increased its stake in 3M (NYSE:MMM) by 26.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 142,674 shares of the conglomerate’s stock after acquiring an additional 30,216 shares during the quarter. Stephens Inc. AR’s holdings in 3M were worth $28,339,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in 3M by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 72,627 shares of the conglomerate’s stock worth $14,426,000 after purchasing an additional 200 shares during the last quarter. Madison Wealth Management boosted its stake in 3M by 0.9% during the 2nd quarter. Madison Wealth Management now owns 7,589 shares of the conglomerate’s stock worth $1,507,000 after purchasing an additional 66 shares during the last quarter. Hoylecohen LLC boosted its stake in 3M by 0.5% during the 2nd quarter. Hoylecohen LLC now owns 12,406 shares of the conglomerate’s stock worth $2,464,000 after purchasing an additional 66 shares during the last quarter. Legal & General Group Plc boosted its stake in 3M by 5.9% during the 2nd quarter. Legal & General Group Plc now owns 4,029,999 shares of the conglomerate’s stock worth $800,477,000 after purchasing an additional 225,797 shares during the last quarter. Finally, Natixis Advisors L.P. boosted its stake in 3M by 10.0% during the 2nd quarter. Natixis Advisors L.P. now owns 112,858 shares of the conglomerate’s stock worth $22,417,000 after purchasing an additional 10,253 shares during the last quarter. 66.82% of the stock is owned by institutional investors.

Several equities research analysts have issued reports on MMM shares. UBS Group lowered their target price on shares of 3M from $183.00 to $172.00 and set a “sell” rating on the stock in a research note on Friday, September 17th. Morgan Stanley boosted their price target on shares of 3M from $200.00 to $213.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 28th. Wolfe Research cut shares of 3M from a “peer perform” rating to an “underperform” rating and lowered their price target for the company from $218.00 to $215.00 in a research report on Monday, July 12th. Zacks Investment Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $208.00 price target on the stock in a research report on Friday, August 6th. Finally, Argus boosted their price target on shares of 3M from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, July 28th. They noted that the move was a valuation call. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, 3M has an average rating of “Hold” and an average price target of $196.85.

In related news, insider Jeffrey R. Lavers sold 6,025 shares of the company’s stock in a transaction that occurred on Wednesday, August 11th. The shares were sold at an average price of $200.00, for a total transaction of $1,205,000.00. Following the sale, the insider now directly owns 10,973 shares in the company, valued at $2,194,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Khandpur K. Ashish sold 6,505 shares of the company’s stock in a transaction that occurred on Monday, August 9th. The stock was sold at an average price of $196.86, for a total transaction of $1,280,574.30. Following the sale, the insider now owns 26,855 shares in the company, valued at $5,286,675.30. The disclosure for this sale can be found here. Insiders have sold 20,666 shares of company stock worth $4,103,569 over the last 90 days. Insiders own 0.34% of the company’s stock.

MMM traded down $0.73 on Tuesday, hitting $181.06. The company had a trading volume of 53,130 shares, compared to its average volume of 2,476,692. The company has a current ratio of 1.73, a quick ratio of 1.22 and a debt-to-equity ratio of 1.12. The firm has a market cap of $104.77 billion, a P/E ratio of 17.93, a PEG ratio of 1.92 and a beta of 0.96. The company’s fifty day moving average price is $193.26 and its 200 day moving average price is $196.47. 3M has a 1 year low of $156.13 and a 1 year high of $208.95.

3M (NYSE:MMM) last issued its quarterly earnings results on Monday, July 26th. The conglomerate reported $2.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.28 by $0.31. The company had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.59 billion. 3M had a net margin of 17.13% and a return on equity of 44.72%. The business’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.78 earnings per share. On average, analysts predict that 3M will post 10.11 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Sunday, September 12th. Investors of record on Monday, August 23rd were paid a dividend of $1.48 per share. The ex-dividend date of this dividend was Friday, August 20th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 3.27%. 3M’s payout ratio is 67.73%.

About 3M

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, and Consumer. 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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