Homrich & Berg raised its position in shares of 3M Co (NYSE:MMM) by 2.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,618 shares of the conglomerate’s stock after buying an additional 246 shares during the quarter. Homrich & Berg’s holdings in 3M were worth $2,970,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Alpha Windward LLC raised its stake in 3M by 16.5% during the fourth quarter. Alpha Windward LLC now owns 1,441 shares of the conglomerate’s stock valued at $339,000 after buying an additional 204 shares in the last quarter. Canal Capital Management LLC raised its stake in 3M by 3.2% during the fourth quarter. Canal Capital Management LLC now owns 7,101 shares of the conglomerate’s stock valued at $1,671,000 after buying an additional 221 shares in the last quarter. ARGI Investment Services LLC raised its stake in 3M by 6.8% during the third quarter. ARGI Investment Services LLC now owns 3,579 shares of the conglomerate’s stock valued at $736,000 after buying an additional 227 shares in the last quarter. Weatherstone Capital Management raised its stake in 3M by 10.3% during the fourth quarter. Weatherstone Capital Management now owns 2,433 shares of the conglomerate’s stock valued at $573,000 after buying an additional 227 shares in the last quarter. Finally, Cadence Bank NA grew its holdings in shares of 3M by 1.6% during the fourth quarter. Cadence Bank NA now owns 15,368 shares of the conglomerate’s stock valued at $3,617,000 after purchasing an additional 237 shares during the last quarter. Hedge funds and other institutional investors own 66.89% of the company’s stock.
In related news, EVP Frank R. Jr. Little sold 3,133 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $236.85, for a total value of $742,051.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Nicholas C. Gangestad sold 1,681 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $249.76, for a total value of $419,846.56. Following the completion of the transaction, the chief financial officer now directly owns 23,562 shares of the company’s stock, valued at $5,884,845.12. The disclosure for this sale can be found here. Insiders sold a total of 52,806 shares of company stock valued at $13,162,628 over the last three months. Corporate insiders own 0.58% of the company’s stock.
3M Co (NYSE:MMM) opened at $241.35 on Monday. 3M Co has a fifty-two week low of $188.62 and a fifty-two week high of $259.77. The stock has a market capitalization of $143,723.92, a P/E ratio of 30.47, a P/E/G ratio of 2.24 and a beta of 1.10. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.86 and a quick ratio of 1.33.
3M (NYSE:MMM) last issued its quarterly earnings data on Thursday, January 25th. The conglomerate reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.07. 3M had a return on equity of 48.34% and a net margin of 15.35%. The business 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 company posted $1.88 EPS. The business’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 earnings per share for the current fiscal 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 issued a $1.36 dividend. This represents a $5.44 dividend on an annualized basis and a yield of 2.25%. This is a positive change from 3M’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Thursday, February 15th. 3M’s dividend payout ratio is 68.69%.
COPYRIGHT VIOLATION NOTICE: “3M Co (MMM) Position Lifted by Homrich & Berg” was first reported by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of United States & international trademark and copyright legislation. The correct version of this piece of content can be read at https://sportsperspectives.com/2018/03/12/3m-co-mmm-position-lifted-by-homrich-berg.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.