Glenmede Trust Co. NA Has $114,512,000 Stake in 3M Company (MMM)

Glenmede Trust Co. NA continued to hold its stake in 3M Company (NYSE:MMM) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 641,279 shares of the conglomerate’s stock at the close of the 1st quarter. 3M comprises about 0.6% of Glenmede Trust Co. NA’s holdings, making the stock its 22nd biggest holding. Glenmede Trust Co. NA owned 0.11% of 3M worth $114,512,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Jackson Grant Investment Advisers Inc. boosted its position in 3M by 0.6% during the first quarter. Jackson Grant Investment Advisers Inc. now owns 718 shares of the conglomerate’s stock valued at $137,000 after acquiring an additional 4 shares during the last quarter. Founders Capital Management LLC boosted its position in 3M by 0.4% during the first quarter. Founders Capital Management LLC now owns 1,939 shares of the conglomerate’s stock valued at $371,000 after acquiring an additional 8 shares during the last quarter. Baystate Wealth Management LLC boosted its position in 3M by 0.6% during the first quarter. Baystate Wealth Management LLC now owns 1,950 shares of the conglomerate’s stock valued at $370,000 after acquiring an additional 11 shares during the last quarter. Capital Management Corp VA boosted its position in 3M by 0.3% during the first quarter. Capital Management Corp VA now owns 3,934 shares of the conglomerate’s stock valued at $753,000 after acquiring an additional 11 shares during the last quarter. Finally, Smith Chas P & Associates PA Cpas boosted its position in 3M by 0.7% during the first quarter. Smith Chas P & Associates PA Cpas now owns 1,952 shares of the conglomerate’s stock valued at $374,000 after acquiring an additional 13 shares during the last quarter. 66.31% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have recently issued reports on the stock. Morgan Stanley increased their price objective on shares of 3M from $178.00 to $193.00 and gave the stock an “underweight” rating in a research report on Friday, June 9th. BidaskClub cut shares of 3M from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Stifel Nicolaus reissued a “hold” rating and set a $202.00 price objective on shares of 3M in a research report on Wednesday, July 19th. Zacks Investment Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $237.00 price objective on the stock in a research report on Monday, June 19th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $209.00 price objective (down previously from $210.00) on shares of 3M in a research report on Wednesday, July 26th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $206.68.

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In other 3M news, VP Eric D. Hammes sold 1,428 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $206.66, for a total transaction of $295,110.48. Following the completion of the sale, the vice president now directly owns 3,066 shares of the company’s stock, valued at $633,619.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul A. Keel sold 4,965 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $206.16, for a total transaction of $1,023,584.40. Following the sale, the insider now directly owns 5,503 shares of the company’s stock, valued at $1,134,498.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,112 shares of company stock valued at $1,878,890. 0.58% of the stock is owned by corporate insiders.

3M Company (NYSE:MMM) traded up 1.32% during midday trading on Monday, hitting $208.41. 600,134 shares of the company were exchanged. 3M Company has a 1-year low of $163.85 and a 1-year high of $214.57. The firm has a market capitalization of $124.37 billion, a PE ratio of 23.77 and a beta of 1.08. The stock has a 50 day moving average of $204.24 and a 200 day moving average of $200.23.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $2.58 earnings per share for the quarter, missing the consensus estimate of $2.59 by $0.01. 3M had a net margin of 17.65% and a return on equity of 47.83%. The company had revenue of $7.81 billion for the quarter, compared to analysts’ expectations of $7.86 billion. During the same period in the previous year, the firm earned $2.08 earnings per share. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities analysts predict that 3M Company will post $8.94 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Friday, August 25th will be issued a dividend of $1.175 per share. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $4.70 dividend on an annualized basis and a yield of 2.28%. 3M’s dividend payout ratio is currently 53.59%.

About 3M

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.

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

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