Fulcrum Capital LLC acquired a new stake in 3M Co (NYSE:MMM) in the 4th quarter, Holdings Channel reports. The fund acquired 927 shares of the conglomerate’s stock, valued at approximately $218,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Lenox Wealth Advisors Inc. lifted its stake in 3M by 16,300.0% in the 4th quarter. Lenox Wealth Advisors Inc. now owns 492 shares of the conglomerate’s stock valued at $116,000 after acquiring an additional 489 shares in the last quarter. MPS Loria Financial Planners LLC bought a new stake in 3M in the 2nd quarter valued at approximately $124,000. Hoertkorn Richard Charles bought a new stake in 3M in the 3rd quarter valued at approximately $126,000. Sawyer & Company Inc bought a new stake in 3M in the 4th quarter valued at approximately $138,000. Finally, Field & Main Bank bought a new stake in 3M in the 4th quarter valued at approximately $140,000. Institutional investors and hedge funds own 66.38% of the company’s stock.
Shares of 3M Co (MMM) opened at $231.44 on Tuesday. 3M Co has a 12 month low of $173.90 and a 12 month high of $259.77. The company has a quick ratio of 1.33, a current ratio of 1.86 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $137,850.00, a price-to-earnings ratio of 29.19, a P/E/G ratio of 2.27 and a beta of 1.08.
3M (NYSE:MMM) last posted its quarterly earnings results on Thursday, January 25th. The conglomerate reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.07. 3M had a return on equity of 48.34% and a net margin of 15.35%. The business had revenue of $7.99 billion for the quarter, compared to analysts’ expectations of $7.85 billion. During the same quarter in the prior year, the business earned $1.88 EPS. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. equities analysts expect that 3M Co will post 10.6 earnings per share for the current year.
The firm 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 2.35%. The ex-dividend date of this dividend is Thursday, February 15th. This is a boost from 3M’s previous quarterly dividend of $0.01. 3M’s dividend payout ratio is 59.27%.
In related news, VP Ippocratis Vrohidis sold 225 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $249.68, for a total value of $56,178.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Nicholas C. Gangestad sold 1,681 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $249.76, for a total value of $419,846.56. Following the completion of the transaction, the chief financial officer now directly owns 23,562 shares in the company, valued at $5,884,845.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,527 shares of company stock worth $11,397,966. 0.58% of the stock is owned by company insiders.
Several research firms have commented on MMM. Vetr upgraded 3M from a “hold” rating to a “buy” rating and set a $250.06 target price on the stock in a research note on Monday. Zacks Investment Research upgraded 3M from a “hold” rating to a “buy” rating and set a $290.00 target price on the stock in a research note on Tuesday, January 30th. Royal Bank of Canada restated a “hold” rating and issued a $254.00 target price on shares of 3M in a research note on Thursday, January 25th. Hilliard Lyons upgraded 3M from a “neutral” rating to a “buy” rating and set a $285.00 target price on the stock in a research note on Wednesday, January 24th. Finally, UBS Group began coverage on 3M in a research note on Tuesday, January 23rd. They issued a “neutral” rating and a $262.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $249.63.
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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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