Barings LLC Has $4.85 Million Stake in 3M Co (MMM)

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Barings LLC decreased its stake in shares of 3M Co (NYSE:MMM) by 37.5% during the second quarter, Holdings Channel reports. The fund owned 24,636 shares of the conglomerate’s stock after selling 14,754 shares during the period. Barings LLC’s holdings in 3M were worth $4,847,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Rainier Group Investment Advisory LLC acquired a new position in shares of 3M during the 1st quarter valued at about $114,000. Quattro Financial Advisors LLC acquired a new position in shares of 3M during the 1st quarter valued at about $119,000. Ballew Advisors Inc acquired a new position in shares of 3M during the 1st quarter valued at about $122,000. Stelac Advisory Services LLC acquired a new position in shares of 3M during the 1st quarter valued at about $125,000. Finally, BDO Wealth Advisors LLC increased its holdings in shares of 3M by 359.4% during the 1st quarter. BDO Wealth Advisors LLC now owns 712 shares of the conglomerate’s stock valued at $156,000 after acquiring an additional 557 shares during the last quarter. 67.16% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:MMM opened at $204.77 on Monday. 3M Co has a twelve month low of $190.57 and a twelve month high of $259.77. The company has a market cap of $118.47 billion, a P/E ratio of 22.33, a price-to-earnings-growth ratio of 1.91 and a beta of 1.17. The company has a quick ratio of 1.08, a current ratio of 1.56 and a debt-to-equity ratio of 1.08.

3M (NYSE:MMM) last announced its earnings results on Tuesday, July 24th. The conglomerate reported $2.59 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.01. 3M had a return on equity of 51.31% and a net margin of 13.44%. The firm had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.36 billion. During the same quarter in the prior year, the company earned $2.58 EPS. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. equities research analysts forecast that 3M Co will post 10.37 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 12th. Shareholders of record on Friday, August 24th will be given a $1.36 dividend. The ex-dividend date is Thursday, August 23rd. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.66%. 3M’s dividend payout ratio is currently 59.32%.

In other 3M news, insider Jon T. Lindekugel sold 6,410 shares of the firm’s stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $203.01, for a total value of $1,301,294.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is currently owned by company insiders.

A number of research analysts have recently commented on MMM shares. Argus lowered their price objective on 3M from $285.00 to $240.00 and set a “buy” rating on the stock in a report on Wednesday, April 25th. Citigroup set a $263.00 target price on 3M and gave the company a “buy” rating in a research note on Saturday, June 9th. Royal Bank of Canada restated a “buy” rating and set a $234.00 target price on shares of 3M in a research note on Wednesday, July 25th. MED downgraded 3M from a “buy” rating to a “hold” rating and set a $208.00 target price for the company. in a research note on Thursday, July 12th. Finally, Zacks Investment Research upgraded 3M from a “sell” rating to a “hold” rating in a research note on Monday, May 28th. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given 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 a consensus price target of $234.03.

3M Profile

3M Company operates as a diversified technology company worldwide. The company's Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; purification products; closure systems for personal hygiene products; acoustic systems products; automotive components; and abrasion-resistant films, and paint finishing and detailing products.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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