3M Co (MMM) Holdings Boosted by American National Bank

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 stock opened at $174.12 on Thursday. 3M Co has a one year low of $172.79 and a one year high of $219.75. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.02 and a quick ratio of 1.38. The firm has a market capitalization of $101.00 billion, a price-to-earnings ratio of 16.65, a price-to-earnings-growth ratio of 1.81 and a beta of 0.99.

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.

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

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