Zevin Asset Management LLC lessened its stake in shares of 3M Company (NYSE:MMM) by 18.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The insider Bauman James L sold 14,616 shares worth $2.86 million. The stock of 3M Co (NYSE:MMM) has "Hold" rating given on Monday, July 10 by RBC Capital Markets.
Other hedge funds also recently added to or reduced their stakes in the company. Jackson Grant Investment Advisers Inc. raised its stake in 3M by 0.6% during the first quarter. Capital Investment Counsel Inc now owns 2,889 shares of the conglomerate's stock valued at $553,000 after acquiring an additional 189 shares during the last quarter. Capital Management Corp VA boosted its holdings in 3M by 0.3% during the 1st quarter. Following the completion of the transaction, the vice president now owns 3,066 shares of the company's stock, valued at $633,619.56. Finally, Smith Chas P & Associates PA Cpas boosted its holdings in 3M by 0.7% during the 1st quarter. Cribstone Capital Management LLC boosted its holdings in 3M by 29.4% in 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 period. Aqr Capital Management Llc sold 44,433 shares as Deutsche Bank Ag (DB)'s stock rose 9.91%. The firm owned 3,564 shares of the conglomerate's stock after selling 1,612 shares during the quarter. The institutional investor held 36,270 shares of the medical and dental instruments company at the end of 2016Q4, valued at $6.48 million, up from 13,770 at the end of the previous reported quarter. Capital reported 0.23% in 3M Co (NYSE:MMM). If you are reading this report on another domain, it was copied illegally and reposted in violation of USA and global copyright laws. The correct version of this piece of content can be read at https://stocknewstimes.com/2017/09/13/3m-company-mmm-shares-bought-by-traynor-capital-management-inc.html. Bartlett & Company Ltd Limited Liability Company holds 0.27% in 3M Co (NYSE:MMM) or 32,181 shares. Now we look at the Moving Averages, the 200-day is 6.62%, the 50-day is -0.3% and the 20-day is 0.71%.
The highest price MMM stock touched in the last 12 month was $214.57 and the lowest price it hit in the same period was $163.85.
The company P/E (price to earnings) ratio is 23.44 and Forward P/E ratio is 21.78. The conglomerate reported $2.58 EPS 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 during the quarter, compared to the consensus estimate of $7.86 billion. During the same quarter in the prior year, the business earned $2.08 earnings per share. The company's revenue for the quarter was up 1.9% on a year-over-year basis. Analysts forecast that 3M Company will post $8.62 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Friday, August 25th were given a dividend of $1.175 per share. This represents a $4.70 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Wednesday, August 23rd. 3M's payout ratio is now 53.59%.
In related news, VP Eric D. Hammes sold 436 shares of 3M Company stock in a transaction on Wednesday, December 7th. The stock was sold at an average price of $206.66, for a total value of $295,110.48. Shelter Insur Retirement Plan owns 3.24% invested in 3M Co (NYSE:MMM) for 40,000 shares. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul A. Keel sold 4,965 shares of the stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $206.16, for a total transaction of $1,023,584.40. 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 period. The disclosure for this sale can be found here. Insiders sold a total of 9,112 shares of company stock valued at $1,878,890 over the last ninety days. The stock's quarterly performance indicates a negative momentum of -0.6 percent, whereas its last one month trend is pessimistic with -0.38 percent.
MMM has been the subject of several research analyst reports. The rating was maintained by Jefferies with "Buy" on Thursday, June 1. Stifel Nicolaus reiterated a "hold" rating and set a $210.00 price objective on shares of 3M in a research report on Friday, July 28th. Finally, William Blair reiterated an "outperform" rating on shares of 3M in a research report on Wednesday, July 26th. Citigroup Inc. reissued a "buy" rating and set a $229.00 price objective (up from $220.00) on shares of 3M in a research report on Saturday, June 3rd.
3M Company is a technology company. The Firm operates through two divisions: a community bank segment and mortgage loan origination business segment. Its Industrial segment serves markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction.