Addison Advisors LLC grew its holdings in 3M (NYSE:MMM – Free Report) by 4.9% through the second quarter, in response to its most up-to-date 13F submitting with the Securities and Trade Fee (SEC). The agency owned 2,328 shares of the conglomerate’s inventory after buying a further 108 shares through the quarter. Addison Advisors LLC’s holdings in 3M have been price $238,000 as of its most up-to-date submitting with the Securities and Trade Fee (SEC).
A variety of different institutional buyers and hedge funds have additionally not too long ago modified their holdings of MMM. Norges Financial institution purchased a brand new place in shares of 3M through the fourth quarter valued at about $502,585,000. Balyasny Asset Administration L.P. raised its holdings in shares of 3M by 313.8% through the 4th quarter. Balyasny Asset Administration L.P. now owns 2,650,961 shares of the conglomerate’s inventory valued at $289,803,000 after shopping for a further 2,010,319 shares within the final quarter. Capital World Buyers bought a brand new place in shares of 3M within the first quarter price about $165,986,000. Nationwide Financial institution of Canada FI lifted its place in 3M by 218.3% within the first quarter. Nationwide Financial institution of Canada FI now owns 1,489,351 shares of the conglomerate’s inventory valued at $147,344,000 after buying a further 1,021,440 shares over the past quarter. Lastly, Janus Henderson Group PLC lifted its place in 3M by 1,015.6% within the first quarter. Janus Henderson Group PLC now owns 888,564 shares of the conglomerate’s inventory valued at $94,247,000 after buying a further 808,914 shares over the past quarter. 65.25% of the inventory is presently owned by institutional buyers.
3M Inventory Down 2.1 %
Shares of NYSE:MMM opened at $128.61 on Friday. 3M has a 12-month low of $71.12 and a 12-month excessive of $134.99. The inventory’s 50-day shifting common value is $118.48 and its two-hundred day shifting common value is $104.99. The agency has a market cap of $71.17 billion, a price-to-earnings ratio of -10.11, a PEG ratio of two.49 and a beta of 0.95. The corporate has a present ratio of 1.36, a fast ratio of 1.08 and a debt-to-equity ratio of two.95.
3M (NYSE:MMM – Get Free Report) final issued its quarterly earnings outcomes on Friday, July twenty sixth. The conglomerate reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.25. The enterprise had income of $6.26 billion through the quarter, in comparison with the consensus estimate of $5.85 billion. 3M had a return on fairness of 112.92% and a internet margin of three.08%. Throughout the identical interval within the earlier yr, the enterprise earned $2.17 EPS. On common, analysis analysts forecast that 3M will put up 7.2 EPS for the present yr.
3M Dividend Announcement
The agency additionally not too long ago introduced a quarterly dividend, which can be paid on Thursday, September twelfth. Shareholders of report on Monday, August twenty sixth can be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of two.18%. The ex-dividend date of this dividend is Monday, August twenty sixth. 3M’s payout ratio is presently -22.01%.
Insider Exercise at 3M
In different 3M information, Chairman Michael F. Roman bought 5,675 shares of the corporate’s inventory in a transaction dated Wednesday, August seventh. The shares have been bought at a mean value of $123.46, for a complete worth of $700,635.50. Following the completion of the sale, the chairman now immediately owns 174,036 shares of the corporate’s inventory, valued at roughly $21,486,484.56. The sale was disclosed in a submitting with the Securities & Trade Fee, which is obtainable by way of this hyperlink. In different information, CFO Theresa E. Reinseth bought 2,100 shares of 3M inventory in a transaction dated Tuesday, August sixth. The inventory was bought at a mean value of $124.12, for a complete transaction of $260,652.00. Following the completion of the sale, the chief monetary officer now immediately owns 4,364 shares within the firm, valued at roughly $541,659.68. The sale was disclosed in a submitting with the SEC, which could be accessed by way of this hyperlink. Additionally, Chairman Michael F. Roman bought 5,675 shares of the enterprise’s inventory in a transaction that occurred on Wednesday, August seventh. The inventory was bought at a mean value of $123.46, for a complete transaction of $700,635.50. Following the completion of the sale, the chairman now immediately owns 174,036 shares of the corporate’s inventory, valued at $21,486,484.56. The disclosure for this sale could be discovered right here. 0.34% of the inventory is presently owned by insiders.
Analysts Set New Value Targets
A number of equities analysts have not too long ago issued reviews on MMM shares. Citigroup boosted their goal value on 3M from $100.00 to $133.00 and gave the corporate a “impartial” ranking in a analysis notice on Monday, July twenty ninth. Vertical Analysis upgraded shares of 3M from a “maintain” ranking to a “purchase” ranking and upped their goal value for the inventory from $92.00 to $140.00 in a analysis notice on Thursday, Could sixteenth. Barclays raised their value goal on shares of 3M from $120.00 to $145.00 and gave the corporate an “obese” ranking in a report on Monday, July twenty ninth. Royal Financial institution of Canada boosted their goal value on shares of 3M from $93.00 to $95.00 and gave the corporate an “underperform” ranking in a analysis report on Monday, July twenty ninth. Lastly, StockNews.com lowered 3M from a “purchase” ranking to a “maintain” ranking in a report on Monday, July twenty ninth. Two analysis analysts have rated the inventory with a promote ranking, 5 have given a maintain ranking and eight have given a purchase ranking to the corporate. In keeping with MarketBeat, the inventory presently has a consensus ranking of “Maintain” and a consensus goal value of $124.43.
Learn Our Newest Inventory Evaluation on 3M
About 3M
3M Firm gives diversified expertise companies in america and internationally. The corporate’s Security and Industrial section presents industrial abrasives and ending for metalworking functions; autobody restore options; closure techniques for private hygiene merchandise, masking, and packaging supplies; electrical merchandise and supplies for development and upkeep, energy distribution, and electrical authentic tools producers; structural adhesives and tapes; respiratory, listening to, eye, and fall safety options; and pure and color-coated mineral granules for shingles.
Additional Studying
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