Leith Wheeler Investment Counsel Ltd. acquired a new position in 3M Co (NYSE:MMM) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,079 shares of the conglomerate’s stock, valued at approximately $254,000.
Other large investors have also recently made changes to their positions in the company. MPS Loria Financial Planners LLC purchased a new position in 3M during the second quarter valued at approximately $124,000. Hoertkorn Richard Charles purchased a new position in 3M during the third quarter valued at approximately $126,000. Harfst & Associates Inc. raised its position in 3M by 17.0% during the second quarter. Harfst & Associates Inc. now owns 688 shares of the conglomerate’s stock valued at $143,000 after acquiring an additional 100 shares in the last quarter. Mascoma Wealth Management LLC raised its position in 3M by 87.5% during the third quarter. Mascoma Wealth Management LLC now owns 750 shares of the conglomerate’s stock valued at $157,000 after acquiring an additional 350 shares in the last quarter. Finally, Yacktman Asset Management LP purchased a new position in 3M during the second quarter valued at approximately $208,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.
3M Co (NYSE:MMM) traded up $1.67 during trading on Tuesday, hitting $241.46. The stock had a trading volume of 1,169,230 shares, compared to its average volume of 2,214,520. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.07 and a quick ratio of 1.47. The stock has a market capitalization of $143,780.00, a PE ratio of 26.95, a PEG ratio of 2.39 and a beta of 1.10. 3M Co has a 1-year low of $173.55 and a 1-year high of $244.23.
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 12th. Stockholders of record on Friday, November 24th were paid a $0.0118 dividend. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date was Wednesday, November 22nd. 3M’s dividend payout ratio is presently 52.46%.
Several brokerages recently weighed in on MMM. Zacks Investment Research cut 3M from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Morgan Stanley boosted their price objective on 3M from $190.00 to $201.00 and gave the company an “underweight” rating in a research report on Monday, October 2nd. Royal Bank of Canada boosted their price objective on 3M from $205.00 to $209.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 25th. Jefferies Group boosted their price objective on 3M to $262.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Finally, Stifel Nicolaus boosted their price objective on 3M from $220.00 to $244.00 and gave the company a “hold” rating in a research report on Wednesday, October 25th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $231.59.
In other news, insider Frank R. Jr. Little sold 1,500 shares of 3M stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $234.47, for a total value of $351,705.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Nicholas C. Gangestad sold 4,004 shares of 3M stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $233.84, for a total value of $936,295.36. Following the completion of the sale, the chief financial officer now directly owns 25,805 shares in the company, valued at $6,034,241.20. The disclosure for this sale can be found here. Insiders sold 22,804 shares of company stock worth $5,303,706 over the last ninety days. Corporate insiders own 0.58% of the company’s stock.
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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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