Monument Capital Management Invests $2.22 Million in 3M Co (MMM)

Monument Capital Management bought a new stake in 3M Co (NYSE:MMM) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 9,445 shares of the conglomerate’s stock, valued at approximately $2,223,000. 3M comprises approximately 1.6% of Monument Capital Management’s portfolio, making the stock its 17th largest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. APG Asset Management N.V. increased its holdings in 3M by 128.1% during the 4th quarter. APG Asset Management N.V. now owns 1,427,350 shares of the conglomerate’s stock valued at $279,776,000 after purchasing an additional 801,639 shares during the period. Bank of Montreal Can increased its holdings in 3M by 38.9% during the 4th quarter. Bank of Montreal Can now owns 930,370 shares of the conglomerate’s stock valued at $218,981,000 after purchasing an additional 260,349 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in 3M by 4.7% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 3,171,136 shares of the conglomerate’s stock valued at $746,391,000 after purchasing an additional 142,799 shares during the period. Crossmark Global Holdings Inc. purchased a new position in 3M during the 3rd quarter valued at about $28,564,000. Finally, Robeco Institutional Asset Management B.V. increased its holdings in 3M by 14.8% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 772,419 shares of the conglomerate’s stock valued at $181,802,000 after purchasing an additional 99,510 shares during the period. 66.17% of the stock is owned by institutional investors.

3M Co (NYSE MMM) opened at $236.67 on Tuesday. The company has a current ratio of 1.86, a quick ratio of 1.33 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $140,936.98, a P/E ratio of 25.81, a price-to-earnings-growth ratio of 2.20 and a beta of 1.08. 3M Co has a twelve month low of $182.04 and a twelve month high of $259.77.

3M (NYSE:MMM) last posted its quarterly earnings results on Thursday, January 25th. The conglomerate reported $2.10 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.07. The company had revenue of $7.99 billion for the quarter, compared to the consensus estimate of $7.85 billion. 3M had a return on equity of 48.34% and a net margin of 15.35%. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.88 EPS. sell-side analysts expect that 3M Co will post 10.59 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Friday, February 16th will be paid a $1.36 dividend. The ex-dividend date is Thursday, February 15th. This represents a $5.44 annualized dividend and a dividend yield of 2.30%. This is an increase from 3M’s previous quarterly dividend of $0.01. 3M’s dividend payout ratio is presently 68.69%.

MMM has been the topic of a number of research analyst reports. ValuEngine downgraded 3M from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Zacks Investment Research downgraded 3M from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Vetr upgraded 3M from a “hold” rating to a “buy” rating and set a $250.06 price target on the stock in a report on Monday, February 5th. Barclays started coverage on 3M in a report on Thursday, February 15th. They set an “underweight” rating and a $235.00 target price on the stock. Finally, Hilliard Lyons upgraded 3M from a “neutral” rating to a “buy” rating and set a $285.00 target price on the stock in a report on Wednesday, January 24th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $254.25.

In related news, CFO Nicholas C. Gangestad sold 1,681 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $249.76, for a total value of $419,846.56. Following the sale, the chief financial officer now owns 23,562 shares in the company, valued at approximately $5,884,845.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Ippocratis Vrohidis sold 225 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $249.68, for a total value of $56,178.00. The disclosure for this sale can be found here. Insiders sold a total of 49,673 shares of company stock worth $12,420,577 in the last 90 days. 0.58% of the stock is currently owned by company insiders.

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

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