Dean Investment Associates LLC lowered its position in 3M Co (NYSE:MMM) by 1.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 25,162 shares of the conglomerate’s stock after selling 270 shares during the quarter. 3M accounts for about 0.9% of Dean Investment Associates LLC’s portfolio, making the stock its 23rd largest position. Dean Investment Associates LLC’s holdings in 3M were worth $5,922,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the business. Schwab Charles Investment Management Inc. raised its position in shares of 3M by 4.7% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 3,171,136 shares of the conglomerate’s stock worth $746,391,000 after acquiring an additional 142,799 shares during the period. New York State Common Retirement Fund increased its stake in shares of 3M by 0.5% during the third quarter. New York State Common Retirement Fund now owns 1,700,225 shares of the conglomerate’s stock worth $356,877,000 after purchasing an additional 8,500 shares in the last quarter. APG Asset Management N.V. increased its stake in shares of 3M by 128.1% during the fourth quarter. APG Asset Management N.V. now owns 1,427,350 shares of the conglomerate’s stock worth $279,776,000 after purchasing an additional 801,639 shares in the last quarter. Rhumbline Advisers increased its stake in shares of 3M by 0.9% during the third quarter. Rhumbline Advisers now owns 1,124,531 shares of the conglomerate’s stock worth $236,039,000 after purchasing an additional 9,617 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in shares of 3M by 38.9% during the fourth quarter. Bank of Montreal Can now owns 930,370 shares of the conglomerate’s stock worth $218,981,000 after purchasing an additional 260,349 shares in the last quarter. Institutional investors and hedge funds own 66.17% of the company’s stock.
In other news, Chairman Inge G. Thulin sold 35,236 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $251.14, for a total value of $8,849,169.04. Following the completion of the sale, the chairman now owns 253,873 shares of the company’s stock, valued at approximately $63,757,665.22. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Ippocratis Vrohidis sold 225 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $249.68, for a total transaction of $56,178.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,673 shares of company stock valued at $12,420,577. 0.58% of the stock is owned by corporate insiders.
Shares of 3M Co (NYSE:MMM) opened at $236.67 on Tuesday. 3M Co has a one year low of $182.04 and a one year high of $259.77. The stock has a market cap of $140,936.98, a PE ratio of 25.81, a P/E/G ratio of 2.20 and a beta of 1.08. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.33 and a current ratio of 1.86.
3M (NYSE:MMM) last announced its quarterly earnings data on Thursday, January 25th. The conglomerate reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.07. 3M had a net margin of 15.35% and a return on equity of 48.34%. The company had revenue of $7.99 billion during the quarter, compared to analysts’ expectations of $7.85 billion. During the same quarter in the prior year, the company earned $1.88 EPS. 3M’s revenue was up 9.0% compared to the same quarter last year. equities analysts expect that 3M Co will post 10.59 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Friday, February 16th will be paid a dividend of $1.36 per share. This represents a $5.44 annualized dividend and a yield of 2.30%. The ex-dividend date is Thursday, February 15th. This is a boost from 3M’s previous quarterly dividend of $0.01. 3M’s dividend payout ratio is currently 68.69%.
A number of analysts have recently commented on the stock. Zacks Investment Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $271.00 target price for the company in a research note on Monday, January 15th. Jefferies Group boosted their target price on shares of 3M to $262.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Stifel Nicolaus boosted their target price on shares of 3M from $220.00 to $244.00 and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Bank of America boosted their target price on shares of 3M from $227.00 to $257.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Finally, UBS Group assumed coverage on shares of 3M in a research note on Tuesday, January 23rd. They set a “neutral” rating and a $262.00 target price for the company. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $254.25.
TRADEMARK VIOLATION NOTICE: “Dean Investment Associates LLC Has $5.92 Million Holdings in 3M Co (MMM)” was originally posted by Stock Observer and is owned by of Stock Observer. If you are viewing this article on another publication, it was illegally stolen and republished in violation of United States and international copyright and trademark legislation. The correct version of this article can be read at https://www.thestockobserver.com/2018/02/20/dean-investment-associates-llc-has-5-92-million-holdings-in-3m-co-mmm.html.
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.
Want to see what other hedge funds are holding MMM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for 3M Co (NYSE:MMM).
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.