3M Co (MMM) Shares Bought by Morgan Stanley

Morgan Stanley raised its holdings in 3M Co (NYSE:MMM) by 17.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,612,642 shares of the conglomerate’s stock after purchasing an additional 534,001 shares during the quarter. Morgan Stanley’s holdings in 3M were worth $710,678,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Natixis raised its holdings in shares of 3M by 12.9% in the 2nd quarter. Natixis now owns 411,576 shares of the conglomerate’s stock valued at $80,965,000 after buying an additional 46,977 shares during the period. Davy Asset Management Ltd purchased a new stake in shares of 3M in the 2nd quarter valued at $1,202,000. Voya Investment Management LLC raised its holdings in shares of 3M by 8.2% in the 2nd quarter. Voya Investment Management LLC now owns 299,264 shares of the conglomerate’s stock valued at $58,871,000 after buying an additional 22,746 shares during the period. InterOcean Capital LLC raised its holdings in shares of 3M by 73.1% in the 2nd quarter. InterOcean Capital LLC now owns 22,989 shares of the conglomerate’s stock valued at $4,522,000 after buying an additional 9,710 shares during the period. Finally, CWH Capital Management Inc. purchased a new stake in shares of 3M in the 2nd quarter valued at $220,000. Institutional investors own 66.94% of the company’s stock.

MMM has been the topic of several research analyst reports. MED downgraded 3M from a “buy” rating to a “hold” rating and set a $208.00 price objective on the stock. in a report on Thursday, July 12th. ValuEngine upgraded 3M from a “sell” rating to a “hold” rating in a report on Saturday, July 14th. Morgan Stanley initiated coverage on 3M in a report on Monday, August 20th. They issued an “equal weight” rating and a $212.00 price objective on the stock. Zacks Investment Research upgraded 3M from a “sell” rating to a “hold” rating in a report on Monday, September 3rd. Finally, Deutsche Bank reiterated a “hold” rating and issued a $208.00 price objective on shares of 3M in a report on Thursday, July 12th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $234.97.

In other news, insider Eric D. Hammes sold 1,272 shares of the company’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $216.00, for a total transaction of $274,752.00. Following the completion of the transaction, the insider now directly owns 5,634 shares of the company’s stock, valued at approximately $1,216,944. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jon T. Lindekugel sold 6,410 shares of the company’s stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $203.01, for a total value of $1,301,294.10. The disclosure for this sale can be found here. Corporate insiders own 0.58% of the company’s stock.

MMM opened at $215.27 on Friday. 3M Co has a 12 month low of $190.57 and a 12 month high of $259.77. The firm has a market cap of $125.02 billion, a P/E ratio of 22.39, a P/E/G ratio of 2.04 and a beta of 1.16. 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 released its earnings results on Tuesday, July 24th. The conglomerate reported $2.59 EPS for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $8.36 billion. During the same period in the previous year, the firm posted $2.58 EPS. 3M’s revenue for the quarter was up 7.4% on a year-over-year basis. research analysts forecast that 3M Co will post 10.3 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 12th. Investors of record on Friday, August 24th were paid a dividend of $1.36 per share. The ex-dividend date was Thursday, August 23rd. This represents a $5.44 annualized dividend and a yield of 2.53%. 3M’s payout ratio is 59.32%.

3M Company 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.

Further Reading: Average Daily Trade Volume – What It Means In Stock Trading

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

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