Girard Partners LTD. raised its position in shares of 3M Company (NYSE:MMM) by 1.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 11,798 shares of the conglomerate’s stock after buying an additional 113 shares during the period. Girard Partners LTD.’s holdings in 3M were worth $2,257,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the stock. Park National Corp OH raised its position in 3M by 0.3% in the first quarter. Park National Corp OH now owns 152,349 shares of the conglomerate’s stock worth $29,149,000 after buying an additional 461 shares in the last quarter. Toth Financial Advisory Corp acquired a new position in 3M during the first quarter valued at about $211,000. Wsfs Capital Management LLC acquired a new position in 3M during the fourth quarter valued at about $434,000. Searle & CO. raised its position in 3M by 6.0% in the fourth quarter. Searle & CO. now owns 3,528 shares of the conglomerate’s stock valued at $630,000 after buying an additional 200 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in 3M during the fourth quarter valued at about $3,477,000. 65.80% of the stock is currently owned by institutional investors.
3M Company (NYSE MMM) traded down 0.22% on Monday, hitting $207.20. 391,627 shares of the stock traded hands. The stock has a market cap of $123.65 billion, a price-to-earnings ratio of 23.63 and a beta of 1.08. The firm’s 50 day moving average is $209.15 and its 200 day moving average is $195.17. 3M Company has a 52 week low of $163.85 and a 52 week high of $214.57.
3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $2.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.59 by $0.01. 3M had a return on equity of 47.83% and a net margin of 17.65%. The firm had revenue of $7.81 billion during the quarter, compared to analysts’ expectations of $7.86 billion. During the same period in the previous year, the company posted $2.08 earnings per share. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. Equities analysts anticipate that 3M Company will post $8.94 earnings per share for the current year.
Several research firms have issued reports on MMM. Barclays PLC restated an “overweight” rating and issued a $201.00 price target (up previously from $200.00) on shares of 3M in a research report on Wednesday, April 19th. Zacks Investment Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $223.00 price objective on the stock in a research report on Friday, May 26th. BidaskClub cut shares of 3M from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 30th. Jefferies Group LLC reiterated a “buy” rating and set a $234.00 price objective on shares of 3M in a research report on Thursday, June 1st. Finally, Bank of America Corporation reiterated a “buy” rating and set a $225.00 price objective (up from $208.00) on shares of 3M in a research report on Tuesday, June 6th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. 3M currently has a consensus rating of “Hold” and an average target price of $203.40.
In related news, VP Marlene Mary Mcgrath sold 14,766 shares of the company’s stock in a transaction that occurred on 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 transaction, the vice president now directly owns 24,480 shares in the company, valued at $4,770,662.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider James L. Bauman sold 14,616 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $195.81, for a total transaction of $2,861,958.96. Following the completion of the transaction, the insider now owns 16,458 shares in the company, valued at $3,222,640.98. The disclosure for this sale can be found here. Corporate insiders own 0.58% of the company’s stock.
3M 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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