3M Co (NYSE:MMM) Shares Bought by Valmark Advisers Inc.

Valmark Advisers Inc. lifted its holdings in 3M Co (NYSE:MMM) by 16.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,683 shares of the conglomerate’s stock after buying an additional 236 shares during the quarter. Valmark Advisers Inc.’s holdings in 3M were worth $277,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Park National Corp OH increased its stake in shares of 3M by 6.0% during the second quarter. Park National Corp OH now owns 192,590 shares of the conglomerate’s stock worth $33,383,000 after acquiring an additional 10,852 shares during the period. Pensionfund DSM Netherlands boosted its holdings in 3M by 10.7% during the second quarter. Pensionfund DSM Netherlands now owns 21,700 shares of the conglomerate’s stock worth $3,761,000 after buying an additional 2,100 shares in the last quarter. Pensionfund Sabic boosted its holdings in 3M by 8.3% during the second quarter. Pensionfund Sabic now owns 14,400 shares of the conglomerate’s stock worth $2,496,000 after buying an additional 1,100 shares in the last quarter. Fulton Bank N.A. boosted its holdings in 3M by 4.0% during the second quarter. Fulton Bank N.A. now owns 17,665 shares of the conglomerate’s stock worth $3,062,000 after buying an additional 672 shares in the last quarter. Finally, Silverleafe Capital Partners LLC purchased a new stake in 3M during the second quarter worth about $520,000. 66.55% of the stock is owned by institutional investors.

Shares of NYSE MMM traded up $1.63 on Friday, hitting $172.56. The company’s stock had a trading volume of 1,415,834 shares, compared to its average volume of 2,702,857. 3M Co has a 12-month low of $150.58 and a 12-month high of $219.75. The company has a market capitalization of $98.24 billion, a price-to-earnings ratio of 16.50, a price-to-earnings-growth ratio of 1.98 and a beta of 1.10. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.30 and a quick ratio of 1.79. The stock has a 50 day moving average of $164.34 and a 200-day moving average of $168.11.

3M (NYSE:MMM) last posted its quarterly earnings data on Thursday, October 24th. The conglomerate reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.09. The business had revenue of $7.99 billion during the quarter, compared to analyst estimates of $8.20 billion. 3M had a net margin of 15.48% and a return on equity of 54.02%. The company’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.58 earnings per share. Sell-side analysts expect that 3M Co will post 9.09 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 22nd will be given a $1.44 dividend. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend is Thursday, November 21st. 3M’s dividend payout ratio is presently 55.07%.

A number of analysts recently commented on MMM shares. Morgan Stanley decreased their price objective on shares of 3M from $173.00 to $165.00 and set an “equal weight” rating on the stock in a report on Friday, October 25th. Zacks Investment Research downgraded shares of 3M from a “hold” rating to a “sell” rating and set a $166.00 price objective on the stock. in a report on Monday, October 14th. JPMorgan Chase & Co. boosted their price objective on shares of 3M from $140.00 to $143.00 and gave the stock an “underweight” rating in a report on Thursday, October 10th. Wolfe Research set a $177.00 price objective on shares of 3M and gave the stock a “sell” rating in a report on Friday, October 25th. Finally, Citigroup decreased their price objective on shares of 3M from $197.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $174.08.

In other news, EVP Khandpur K. Ashish sold 3,362 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $174.20, for a total value of $585,660.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Eric D. Hammes sold 1,341 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $174.25, for a total transaction of $233,669.25. The disclosure for this sale can be found here. In the last three months, insiders sold 6,337 shares of company stock valued at $1,098,286. Company insiders own 0.83% of the company’s stock.

About 3M

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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