Daiwa Securities Group Inc. Grows Stake in 3M Co (NYSE:MMM)

Daiwa Securities Group Inc. lifted its position in shares of 3M Co (NYSE:MMM) by 1.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 47,202 shares of the conglomerate’s stock after acquiring an additional 660 shares during the period. Daiwa Securities Group Inc.’s holdings in 3M were worth $9,807,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. D.A. Davidson & CO. raised its holdings in shares of 3M by 9.1% in the 4th quarter. D.A. Davidson & CO. now owns 254,208 shares of the conglomerate’s stock worth $48,437,000 after purchasing an additional 21,187 shares during the period. Parsec Financial Management Inc. lifted its stake in 3M by 0.9% in the fourth quarter. Parsec Financial Management Inc. now owns 19,941 shares of the conglomerate’s stock worth $3,799,000 after purchasing an additional 180 shares during the last quarter. Perennial Advisors LLC lifted its stake in 3M by 2.3% in the fourth quarter. Perennial Advisors LLC now owns 13,308 shares of the conglomerate’s stock worth $2,536,000 after purchasing an additional 297 shares during the last quarter. North Star Asset Management Inc. raised its stake in shares of 3M by 3.8% during the fourth quarter. North Star Asset Management Inc. now owns 30,601 shares of the conglomerate’s stock valued at $5,831,000 after acquiring an additional 1,115 shares during the last quarter. Finally, Advisor Partners LLC raised its stake in shares of 3M by 8.5% during the fourth quarter. Advisor Partners LLC now owns 21,610 shares of the conglomerate’s stock valued at $4,117,000 after acquiring an additional 1,702 shares during the last quarter. 66.72% of the stock is owned by institutional investors and hedge funds.

Shares of MMM stock opened at $169.01 on Thursday. 3M Co has a twelve month low of $159.32 and a twelve month high of $219.75. The stock has a market capitalization of $98.01 billion, a P/E ratio of 16.16, a PEG ratio of 1.76 and a beta of 1.08. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.02 and a quick ratio of 1.38.



3M (NYSE:MMM) last issued its earnings results on Thursday, April 25th. The conglomerate reported $2.23 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.50 by ($0.27). The firm had revenue of $7.86 billion for the quarter, compared to analysts’ expectations of $8.02 billion. 3M had a return on equity of 57.42% and a net margin of 17.43%. The firm’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.50 EPS. On average, analysts expect that 3M Co will post 9.32 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Friday, May 24th were paid a dividend of $1.44 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $5.76 dividend on an annualized basis and a yield of 3.41%. 3M’s payout ratio is currently 55.07%.

A number of equities research analysts have weighed in on the stock. Wolfe Research set a $174.00 price objective on shares of 3M and gave the stock a “sell” rating in a report on Friday, April 26th. Zacks Investment Research raised shares of 3M from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. Morgan Stanley cut their target price on shares of 3M from $184.00 to $172.00 and set an “equal weight” rating for the company in a research note on Friday, May 24th. Barclays reissued a “sell” rating and issued a $162.00 price objective on shares of 3M in a research note on Thursday, June 6th. Finally, Deutsche Bank lowered their target price on shares of 3M from $188.00 to $183.00 and set a “hold” rating for the company in a report on Friday, April 26th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $191.67.

In other 3M news, Director David B. Dillon acquired 1,200 shares of 3M stock in a transaction that occurred on Friday, May 17th. The stock was purchased at an average cost of $169.50 per share, with a total value of $203,400.00. Following the purchase, the director now owns 1,200 shares in the company, valued at $203,400. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gregory R. Page purchased 1,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were purchased at an average cost of $179.60 per share, with a total value of $179,600.00. Following the completion of the purchase, the director now directly owns 3,000 shares in the company, valued at $538,800. The disclosure for this purchase can be found here. In the last three months, insiders bought 3,200 shares of company stock valued at $559,260. Company insiders own 0.83% of the company’s stock.

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3M Profile

3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, abrasion-resistant films, and paint finishing and detailing products.

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

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