Acropolis Investment Management LLC grew its position in 3M Co (NYSE:MMM) by 2.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,791 shares of the conglomerate’s stock after purchasing an additional 190 shares during the period. Acropolis Investment Management LLC’s holdings in 3M were worth $1,524,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Creative Financial Designs Inc. ADV increased its holdings in 3M by 202.0% during the first quarter. Creative Financial Designs Inc. ADV now owns 151 shares of the conglomerate’s stock worth $31,000 after buying an additional 101 shares during the last quarter. Weaver Consulting Group purchased a new stake in 3M during the first quarter worth about $32,000. Cordasco Financial Network increased its holdings in 3M by 220.0% during the first quarter. Cordasco Financial Network now owns 160 shares of the conglomerate’s stock worth $33,000 after buying an additional 110 shares during the last quarter. Capital Financial Planning LLC purchased a new stake in 3M during the fourth quarter worth about $34,000. Finally, Lake Point Wealth Management purchased a new stake in 3M during the fourth quarter worth about $37,000. Institutional investors own 66.62% of the company’s stock.
NYSE:MMM traded up $2.88 on Tuesday, reaching $177.52. 2,321,407 shares of the company’s stock were exchanged, compared to its average volume of 2,737,264. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.38 and a current ratio of 2.02. The firm has a market capitalization of $101.99 billion, a price-to-earnings ratio of 16.97, a price-to-earnings-growth ratio of 1.83 and a beta of 1.09. 3M Co has a 52 week low of $159.32 and a 52 week high of $219.75. The company has a fifty day moving average of $170.94.
3M (NYSE:MMM) last issued its earnings results on Thursday, April 25th. The conglomerate reported $2.23 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.27). The business had revenue of $7.86 billion for the quarter, compared to the consensus estimate of $8.02 billion. 3M had a return on equity of 57.42% and a net margin of 17.43%. 3M’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.50 EPS. On average, equities analysts predict that 3M Co will post 9.29 EPS for the current fiscal year.
In other news, insider Joaquin Delgado sold 5,400 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $169.68, for a total value of $916,272.00. Following the completion of the transaction, the insider now directly owns 28,092 shares in the company, valued at $4,766,650.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David B. Dillon acquired 1,200 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was purchased at an average price of $169.50 per share, with a total value of $203,400.00. Following the completion of the transaction, the director now directly owns 1,200 shares of the company’s stock, valued at approximately $203,400. The disclosure for this purchase can be found here. Insiders bought 3,200 shares of company stock valued at $559,260 over the last 90 days. 0.83% of the stock is owned by company insiders.
A number of analysts recently issued reports on MMM shares. Deutsche Bank raised their price objective on shares of Rockwell Automation from $173.00 to $186.00 and gave the stock a “hold” rating in a report on Friday, April 26th. Argus increased their target price on shares of Waste Management from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Zacks Investment Research upgraded shares of Green Brick Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. Wolfe Research set a $205.00 target price on shares of Raytheon and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Bank of America set a $420.00 target price on shares of Boeing and gave the stock a “hold” rating in a research report on Thursday, June 27th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. 3M has an average rating of “Hold” and an average target price of $184.25.
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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