Koss Olinger Consulting LLC raised its position in shares of 3M (NYSE:MMM – Free Report) by 4.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,378 shares of the conglomerate’s stock after purchasing an additional 337 shares during the quarter. Koss Olinger Consulting LLC’s holdings in 3M were worth $1,145,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MMM. RFG Advisory LLC boosted its stake in 3M by 86.9% during the 1st quarter. RFG Advisory LLC now owns 6,765 shares of the conglomerate’s stock valued at $718,000 after purchasing an additional 3,145 shares in the last quarter. Northwest Investment Counselors LLC bought a new position in 3M during the 1st quarter valued at $32,000. Southland Equity Partners LLC boosted its stake in 3M by 10.1% during the 1st quarter. Southland Equity Partners LLC now owns 2,127 shares of the conglomerate’s stock valued at $226,000 after purchasing an additional 195 shares in the last quarter. Global Assets Advisory LLC bought a new stake in shares of 3M during the 1st quarter worth $1,480,000. Finally, Financial Synergies Wealth Advisors Inc. boosted its stake in shares of 3M by 419.1% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock worth $26,000 after acquiring an additional 197 shares in the last quarter. 65.25% of the stock is owned by institutional investors.
Insider Activity
In other news, Chairman Michael F. Roman sold 5,675 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total value of $700,635.50. Following the sale, the chairman now directly owns 174,036 shares of the company’s stock, valued at approximately $21,486,484.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Chairman Michael F. Roman sold 5,675 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total value of $700,635.50. Following the sale, the chairman now directly owns 174,036 shares of the company’s stock, valued at approximately $21,486,484.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Theresa E. Reinseth sold 2,100 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total value of $260,652.00. Following the completion of the sale, the chief financial officer now directly owns 4,364 shares in the company, valued at approximately $541,659.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Check Out Our Latest Stock Report on 3M
3M Price Performance
NYSE MMM opened at $135.14 on Monday. 3M has a fifty-two week low of $71.12 and a fifty-two week high of $140.72. The stock’s 50-day moving average is $132.67 and its two-hundred day moving average is $112.87. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.36 and a quick ratio of 1.08. The firm has a market cap of $74.78 billion, a P/E ratio of -10.62, a price-to-earnings-growth ratio of 2.49 and a beta of 0.95.
3M (NYSE:MMM – Get Free Report) last posted its earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.25. 3M had a return on equity of 112.92% and a net margin of 3.08%. The company had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.85 billion. During the same period last year, the company earned $2.17 earnings per share. On average, analysts anticipate that 3M will post 7.24 earnings per share for the current fiscal year.
3M Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Monday, August 26th. 3M’s dividend payout ratio is currently -22.01%.
About 3M
3M Company provides diversified technology services in the United States and internationally. The company’s Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.
Further Reading
- Five stocks we like better than 3M
- 3 Monster Growth Stocks to Buy Now
- Boeing Stock: Should You Buy, Sell, or Hold Ahead of Earnings
- What is a support level?
- Is Uber the Real Winner After Tesla’s ‘We, Robot’ Flop?
- Overbought Stocks Explained: Should You Trade Them?
- Here’s Why AMD Can’t Catch Up Soon to NVIDIA’s AI
Want to see what other hedge funds are holding MMM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for 3M (NYSE:MMM – Free Report).
Receive News & Ratings for 3M Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 3M and related companies with MarketBeat.com's FREE daily email newsletter.