Guardian Capital Advisors LP Acquires 303 Shares of 3M (NYSE:MMM)

Guardian Capital Advisors LP grew its holdings in shares of 3M (NYSE:MMMGet Rating) by 1.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 19,911 shares of the conglomerate’s stock after acquiring an additional 303 shares during the quarter. Guardian Capital Advisors LP’s holdings in 3M were worth $2,555,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MMM. Better Money Decisions LLC bought a new position in 3M in the 2nd quarter worth $34,000. Prentice Wealth Management LLC bought a new position in 3M in the second quarter worth about $45,000. Artemis Wealth Advisors LLC bought a new position in 3M in the second quarter worth about $58,000. Total Clarity Wealth Management Inc. bought a new stake in 3M during the 2nd quarter valued at approximately $67,000. Finally, Cordasco Financial Network grew its holdings in shares of 3M by 1,026.0% during the 2nd quarter. Cordasco Financial Network now owns 563 shares of the conglomerate’s stock worth $73,000 after acquiring an additional 513 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling at 3M

In other 3M news, EVP Kevin H. Rhodes sold 5,703 shares of the business’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $126.40, for a total transaction of $720,859.20. Following the completion of the sale, the executive vice president now directly owns 2,033 shares in the company, valued at approximately $256,971.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other 3M news, SVP Rodriguez Beatriz Karin Chavez sold 1,071 shares of the stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $126.28, for a total value of $135,245.88. Following the transaction, the senior vice president now directly owns 3,313 shares in the company, valued at $418,365.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kevin H. Rhodes sold 5,703 shares of the business’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $126.40, for a total transaction of $720,859.20. Following the sale, the executive vice president now directly owns 2,033 shares of the company’s stock, valued at approximately $256,971.20. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

3M Stock Performance

Shares of NYSE MMM traded down $0.60 during trading on Thursday, reaching $128.00. 2,349,904 shares of the company traded hands, compared to its average volume of 2,764,610. The company has a quick ratio of 0.97, a current ratio of 1.56 and a debt-to-equity ratio of 0.98. The firm has a 50 day simple moving average of $119.14 and a 200-day simple moving average of $131.17. 3M has a 52-week low of $107.07 and a 52-week high of $181.78. The stock has a market capitalization of $70.75 billion, a PE ratio of 11.15, a P/E/G ratio of 1.32 and a beta of 1.02.

3M (NYSE:MMMGet Rating) last issued its earnings results on Tuesday, October 25th. The conglomerate reported $2.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $0.03. The company had revenue of $8.60 billion for the quarter, compared to analysts’ expectations of $8.70 billion. 3M had a net margin of 18.91% and a return on equity of 40.03%. The firm’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter last year, the company posted $2.45 earnings per share. Equities research analysts anticipate that 3M will post 10.22 earnings per share for the current year.

3M Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Friday, November 18th will be given a dividend of $1.49 per share. This represents a $5.96 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date of this dividend is Thursday, November 17th. 3M’s dividend payout ratio (DPR) is presently 51.92%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MMM. StockNews.com initiated coverage on 3M in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of 3M from $126.00 to $127.00 in a report on Wednesday, October 26th. Barclays lowered their price target on shares of 3M from $137.00 to $130.00 and set an “underweight” rating for the company in a research report on Monday, October 3rd. Royal Bank of Canada upped their price objective on shares of 3M from $107.00 to $113.00 and gave the stock an “underperform” rating in a report on Wednesday, October 26th. Finally, UBS Group upgraded shares of 3M from a “sell” rating to a “neutral” rating and lifted their target price for the company from $118.00 to $126.00 in a report on Friday, September 9th. Three equities research analysts have rated the stock with a sell rating and ten have given a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $132.93.

About 3M

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3M Company operates as a diversified technology company worldwide. It operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.

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

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