Nomura Holdings Inc. raised its stake in shares of 3M Co (NYSE:MMM) by 663.5% during the fourth quarter, HoldingsChannel reports. The firm owned 65,620 shares of the conglomerate’s stock after buying an additional 57,025 shares during the period. Nomura Holdings Inc.’s holdings in 3M were worth $12,964,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Insight Partners LLC boosted its holdings in shares of 3M by 0.6% in the 4th quarter. Capital Insight Partners LLC now owns 8,852 shares of the conglomerate’s stock worth $1,687,000 after acquiring an additional 56 shares in the last quarter. Sawyer & Company Inc boosted its holdings in shares of 3M by 1.6% in the 4th quarter. Sawyer & Company Inc now owns 3,790 shares of the conglomerate’s stock worth $722,000 after acquiring an additional 60 shares in the last quarter. Atlas Brown Inc. boosted its holdings in shares of 3M by 0.9% in the 4th quarter. Atlas Brown Inc. now owns 6,928 shares of the conglomerate’s stock worth $1,320,000 after acquiring an additional 60 shares in the last quarter. Providence Wealth Advisors LLC boosted its holdings in shares of 3M by 0.9% in the 4th quarter. Providence Wealth Advisors LLC now owns 6,851 shares of the conglomerate’s stock worth $1,297,000 after acquiring an additional 61 shares in the last quarter. Finally, Integrated Investment Consultants LLC boosted its holdings in shares of 3M by 2.3% in the 4th quarter. Integrated Investment Consultants LLC now owns 2,677 shares of the conglomerate’s stock worth $511,000 after acquiring an additional 61 shares in the last quarter. 67.19% of the stock is currently owned by institutional investors.
Several research analysts have recently commented on MMM shares. Zacks Investment Research reissued a “hold” rating on shares of 3M in a report on Monday, December 31st. Royal Bank of Canada reaffirmed a “buy” rating and set a $213.00 price objective on shares of 3M in a report on Wednesday, December 19th. Morgan Stanley reduced their price objective on 3M from $201.00 to $199.00 and set an “equal weight” rating on the stock in a report on Friday, March 22nd. Barclays reduced their price objective on 3M from $189.00 to $188.00 and set an “underweight” rating on the stock in a report on Wednesday, April 3rd. Finally, reaffirmed a “sell” rating on shares of 3M in a report on Tuesday, February 12th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $205.50.
In other 3M news, Chairman Inge G. Thulin sold 13,499 shares of the company’s stock in a transaction on Wednesday, January 30th. The shares were sold at an average price of $200.00, for a total transaction of $2,699,800.00. Following the completion of the sale, the chairman now owns 230,458 shares in the company, valued at approximately $46,091,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul A. Keel sold 9,410 shares of the company’s stock in a transaction on Friday, February 8th. The shares were sold at an average price of $199.14, for a total transaction of $1,873,907.40. Following the sale, the insider now owns 23,009 shares of the company’s stock, valued at approximately $4,582,012.26. The disclosure for this sale can be found here. Insiders have sold a total of 77,414 shares of company stock valued at $15,553,682 in the last quarter. Corporate insiders own 0.72% of the company’s stock.
NYSE:MMM opened at $215.83 on Tuesday. 3M Co has a 52-week low of $176.87 and a 52-week high of $221.69. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.29 and a current ratio of 1.89. The firm has a market cap of $125.19 billion, a price-to-earnings ratio of 20.63, a PEG ratio of 2.00 and a beta of 1.05.
3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, January 29th. The conglomerate reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.03. 3M had a return on equity of 57.70% and a net margin of 16.33%. The firm had revenue of $7.95 billion for the quarter, compared to the consensus estimate of $7.87 billion. During the same quarter in the prior year, the business earned $2.10 EPS. The business’s revenue for the quarter was down .6% compared to the same quarter last year. On average, analysts expect that 3M Co will post 10.51 earnings per share for the current year.
3M Company Profile
3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, abrasion-resistant films, and paint finishing and detailing products.
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