American National Bank raised its stake in 3M Co (NYSE:MMM) by 468.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,750 shares of the conglomerate’s stock after purchasing an additional 3,090 shares during the period. American National Bank’s holdings in 3M were worth $779,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Lederer & Associates Investment Counsel CA grew its position in shares of 3M by 2.1% during the first quarter. Lederer & Associates Investment Counsel CA now owns 2,410 shares of the conglomerate’s stock worth $501,000 after acquiring an additional 50 shares during the last quarter. LVM Capital Management Ltd. MI grew its position in shares of 3M by 0.4% during the first quarter. LVM Capital Management Ltd. MI now owns 14,602 shares of the conglomerate’s stock worth $3,034,000 after acquiring an additional 59 shares during the last quarter. Sawyer & Company Inc grew its position in shares of 3M by 1.6% during the fourth quarter. Sawyer & Company Inc now owns 3,790 shares of the conglomerate’s stock worth $722,000 after acquiring an additional 60 shares during the last quarter. Atlas Brown Inc. lifted its holdings in shares of 3M by 0.9% during the fourth quarter. Atlas Brown Inc. now owns 6,928 shares of the conglomerate’s stock worth $1,320,000 after purchasing an additional 60 shares during the period. Finally, Providence Wealth Advisors LLC lifted its holdings in shares of 3M by 0.9% during the fourth quarter. Providence Wealth Advisors LLC now owns 6,851 shares of the conglomerate’s stock worth $1,297,000 after purchasing an additional 61 shares during the period. Institutional investors own 67.11% of the company’s stock.
In other 3M news, Director Gregory R. Page bought 1,000 shares of 3M stock in a transaction on Thursday, May 9th. The stock was bought at an average price of $176.26 per share, with a total value of $176,260.00. Following the completion of the acquisition, the director now owns 4,000 shares in the company, valued at $705,040. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Inge G. Thulin sold 5,863 shares of the firm’s stock in a transaction on Friday, March 29th. The shares were sold at an average price of $207.78, for a total value of $1,218,214.14. Following the completion of the sale, the chairman now directly owns 268,188 shares of the company’s stock, valued at approximately $55,724,102.64. The disclosure for this sale can be found here. 0.83% of the stock is currently owned by company insiders.
3M (NYSE:MMM) last released its earnings results on Thursday, April 25th. The conglomerate reported $2.23 EPS for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.27). 3M had a net margin of 17.43% and a return on equity of 57.42%. The business had revenue of $7.86 billion during the quarter, compared to analyst estimates of $8.02 billion. During the same period last year, the business posted $2.50 EPS. 3M’s revenue was down 5.0% compared to the same quarter last year. On average, analysts predict that 3M Co will post 9.45 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 24th will be issued a $1.44 dividend. This represents a $5.76 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date is Thursday, May 23rd. 3M’s dividend payout ratio (DPR) is currently 55.07%.
Several equities research analysts recently weighed in on MMM shares. reaffirmed a “sell” rating on shares of 3M in a report on Tuesday, February 12th. Argus downgraded 3M from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Gordon Haskett downgraded 3M from a “buy” rating to a “hold” rating and set a $191.98 price target for the company. in a report on Monday, April 29th. Citigroup set a $221.00 price target on 3M and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, Bank of America downgraded 3M from a “buy” rating to a “neutral” rating in a report on Friday, April 26th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. 3M currently has a consensus rating of “Hold” and a consensus price target of $197.92.
WARNING: This piece was reported by WKRB News and is the sole property of of WKRB News. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of US & international copyright legislation. The original version of this piece can be read at https://www.wkrb13.com/2019/05/16/3m-co-mmm-holdings-boosted-by-american-national-bank.html.
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.
See Also: Trading Penny Stocks
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.