Americana Partners LLC Has $445,000 Stock Holdings in 3M (NYSE:MMM)

by · The Markets Daily

Americana Partners LLC increased its position in shares of 3M (NYSE:MMM – Free Report) by 4.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,255 shares of the conglomerate’s stock after acquiring an additional 138 shares during the period. Americana Partners LLC’s holdings in 3M were worth $445,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. McClarren Financial Advisors Inc. boosted its position in shares of 3M by 118.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 121 shares in the last quarter. MFA Wealth Advisors LLC acquired a new stake in shares of 3M during the 2nd quarter worth approximately $28,000. Meeder Asset Management Inc. boosted its position in shares of 3M by 689.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 269 shares in the last quarter. TruNorth Capital Management LLC acquired a new stake in shares of 3M during the 2nd quarter worth approximately $33,000. Finally, Gradient Investments LLC lifted its stake in 3M by 44.7% in the 2nd quarter. Gradient Investments LLC now owns 356 shares of the conglomerate’s stock valued at $36,000 after purchasing an additional 110 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Price Performance

Shares of NYSE MMM opened at $127.22 on Friday. 3M has a twelve month low of $75.40 and a twelve month high of $141.34. The firm has a fifty day simple moving average of $133.00 and a 200 day simple moving average of $115.14. The company has a market capitalization of $69.28 billion, a PE ratio of 16.06, a P/E/G ratio of 2.06 and a beta of 0.95. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41.

3M (NYSE:MMM – Get Free Report) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.05. 3M had a net margin of 15.37% and a return on equity of 104.66%. The business had revenue of $6.29 billion during the quarter, compared to the consensus estimate of $6.06 billion. During the same quarter last year, the firm earned $2.68 earnings per share. 3M’s quarterly revenue was down 24.3% on a year-over-year basis. On average, sell-side analysts forecast that 3M will post 7.28 EPS for the current year.

3M Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 26th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date was Monday, August 26th. 3M’s dividend payout ratio is presently 35.35%.

Analyst Ratings Changes

Several equities analysts recently commented on MMM shares. StockNews.com downgraded shares of 3M from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Argus raised shares of 3M from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised shares of 3M from a “hold” rating to a “buy” rating and increased their price objective for the company from $110.00 to $150.00 in a research note on Monday, July 29th. JPMorgan Chase & Co. increased their price objective on shares of 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Finally, Citigroup increased their price objective on shares of 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, 3M has a consensus rating of “Hold” and a consensus target price of $139.27.

Check Out Our Latest Stock Analysis on 3M

Insider Buying and Selling

In other 3M news, Chairman Michael F. Roman sold 5,675 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total value of $700,635.50. Following the completion of the sale, the chairman now directly owns 174,036 shares in the company, valued at approximately $21,486,484.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other 3M news, CFO Theresa E. Reinseth sold 2,100 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total value of $260,652.00. Following the completion of the sale, the chief financial officer now directly owns 4,364 shares in the company, valued at approximately $541,659.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Michael F. Roman sold 5,675 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total transaction of $700,635.50. Following the completion of the sale, the chairman now owns 174,036 shares of the company’s stock, valued at $21,486,484.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

3M Profile

(Free Report)

3M Company provides diversified technology services in the United States and internationally. The company’s 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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