Saturna Capital CORP decreased its position in shares of 3M Co (NYSE:MMM) by 0.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 262,617 shares of the conglomerate’s stock after selling 250 shares during the period. 3M makes up about 1.9% of Saturna Capital CORP’s investment portfolio, making the stock its 11th largest position. Saturna Capital CORP’s holdings in 3M were worth $61,812,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of MMM. Oakbrook Investments LLC boosted its stake in shares of 3M by 18.4% during the third quarter. Oakbrook Investments LLC now owns 9,001 shares of the conglomerate’s stock valued at $1,889,000 after purchasing an additional 1,400 shares during the period. Xact Kapitalforvaltning AB boosted its stake in shares of 3M by 1.8% during the third quarter. Xact Kapitalforvaltning AB now owns 92,687 shares of the conglomerate’s stock valued at $19,455,000 after purchasing an additional 1,673 shares during the period. Sky Investment Group LLC boosted its stake in shares of 3M by 1.8% during the third quarter. Sky Investment Group LLC now owns 24,354 shares of the conglomerate’s stock valued at $5,112,000 after purchasing an additional 438 shares during the period. Aperio Group LLC boosted its stake in shares of 3M by 6.8% during the third quarter. Aperio Group LLC now owns 559,122 shares of the conglomerate’s stock valued at $117,360,000 after purchasing an additional 35,815 shares during the period. Finally, North Star Asset Management Inc. boosted its stake in shares of 3M by 9.0% during the third quarter. North Star Asset Management Inc. now owns 7,858 shares of the conglomerate’s stock valued at $1,504,000 after purchasing an additional 647 shares during the period. Institutional investors and hedge funds own 66.17% of the company’s stock.
A number of analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of 3M from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Barclays assumed coverage on shares of 3M in a research note on Thursday, February 15th. They set an “underweight” rating and a $235.00 target price for the company. Stifel Nicolaus boosted their target price on shares of 3M from $220.00 to $244.00 and gave the company a “hold” rating in a research note on Wednesday, October 25th. Goldman Sachs Group reissued a “sell” rating on shares of 3M in a research note on Thursday, October 26th. Finally, Citigroup boosted their target price on shares of 3M from $268.00 to $278.00 and gave the company a “buy” rating in a research note on Tuesday, January 16th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $254.25.
In related news, VP Ippocratis Vrohidis sold 225 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $249.68, for a total value of $56,178.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Inge G. Thulin sold 35,236 shares of the company’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $251.14, for a total transaction of $8,849,169.04. Following the completion of the sale, the chairman now directly owns 253,873 shares of the company’s stock, valued at $63,757,665.22. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,673 shares of company stock valued at $12,420,577. 0.58% of the stock is owned by insiders.
Shares of 3M Co (NYSE:MMM) opened at $235.07 on Wednesday. 3M Co has a one year low of $182.04 and a one year high of $259.77. The firm 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 quick ratio of 1.33, a current ratio of 1.86 and a debt-to-equity ratio of 1.04.
3M (NYSE:MMM) last released its quarterly earnings data on Thursday, January 25th. The conglomerate reported $2.10 earnings per share for the quarter, topping the Zacks’ 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 analyst estimates of $7.85 billion. During the same period in the prior year, the firm earned $1.88 earnings per share. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. analysts anticipate that 3M Co will post 10.59 EPS 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 $1.36 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This is a positive change from 3M’s previous quarterly dividend of $0.01. This represents a $5.44 dividend on an annualized basis and a yield of 2.31%. 3M’s dividend payout ratio is 68.69%.
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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