3M Co (MMM) Shares Bought by Cadence Bank NA

Cadence Bank NA boosted its stake in shares of 3M Co (NYSE:MMM) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,368 shares of the conglomerate’s stock after purchasing an additional 237 shares during the quarter. 3M comprises approximately 1.3% of Cadence Bank NA’s investment portfolio, making the stock its 13th biggest position. Cadence Bank NA’s holdings in 3M were worth $3,617,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Advisor Partners LLC boosted its position in 3M by 4.6% during the third quarter. Advisor Partners LLC now owns 17,127 shares of the conglomerate’s stock worth $3,595,000 after purchasing an additional 747 shares during the period. Griffin Asset Management Inc. boosted its position in shares of 3M by 51.7% in the third quarter. Griffin Asset Management Inc. now owns 27,576 shares of the conglomerate’s stock valued at $5,788,000 after acquiring an additional 9,394 shares during the period. Leith Wheeler Investment Counsel Ltd. bought a new stake in shares of 3M in the fourth quarter valued at about $254,000. Aperio Group LLC boosted its position in shares of 3M by 6.8% in the third quarter. Aperio Group LLC now owns 559,122 shares of the conglomerate’s stock valued at $117,360,000 after acquiring an additional 35,815 shares during the period. Finally, Mizuho Securities USA LLC boosted its position in shares of 3M by 20.9% in the fourth quarter. Mizuho Securities USA LLC now owns 18,506 shares of the conglomerate’s stock valued at $4,356,000 after acquiring an additional 3,199 shares during the period. 66.09% of the stock is owned by hedge funds and other institutional investors.

3M Co (NYSE:MMM) opened at $232.00 on Thursday. The company has a market capitalization of $138,180.00, a PE ratio of 29.26, a P/E/G ratio of 2.13 and a beta of 1.08. 3M Co has a 52 week low of $180.15 and a 52 week high of $259.77. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.86 and a quick ratio of 1.33.

3M (NYSE:MMM) last posted its quarterly earnings results on Thursday, January 25th. The conglomerate reported $2.10 EPS for the quarter, beating the Zacks’ consensus estimate of $2.03 by $0.07. The business had revenue of $7.99 billion during 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%. 3M’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.88 earnings per share. equities analysts expect that 3M Co will post 10.6 EPS for the current 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. This represents a $5.44 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend is Thursday, February 15th. This is an increase from 3M’s previous quarterly dividend of $0.01. 3M’s payout ratio is 59.27%.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $271.00 target price for the company in a research report on Monday, January 15th. Jefferies Group boosted their target price on shares of 3M to $262.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Stifel Nicolaus boosted their target price on shares of 3M from $220.00 to $244.00 and gave the company a “hold” rating in a research report on Wednesday, October 25th. Bank of America boosted their target price on shares of 3M from $227.00 to $257.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Finally, UBS Group assumed coverage on shares of 3M in a research report on Tuesday, January 23rd. They issued a “neutral” rating and a $262.00 target price for the company. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $252.12.

In other 3M news, EVP Michael F. Roman sold 4,146 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $246.65, for a total transaction of $1,022,610.90. Following the completion of the transaction, the executive vice president now owns 16,208 shares of the company’s stock, valued at $3,997,703.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Inge G. Thulin sold 35,236 shares of the business’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $251.14, for a total value of $8,849,169.04. Following the transaction, the chairman now directly owns 253,873 shares of the company’s stock, valued at approximately $63,757,665.22. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,673 shares of company stock valued at $12,420,577. 0.58% of the stock is owned by 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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