Harvest Fund Management Co. Ltd Holds Stake in 3M Company (MMM)

Harvest Fund Management Co. Ltd continued to hold its stake in 3M Company (NYSE:MMM) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 856 shares of the conglomerate’s stock at the end of the first quarter. Harvest Fund Management Co. Ltd’s holdings in 3M were worth $164,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MMM. Cable Hill Partners LLC raised its stake in 3M by 2.4% in the first quarter. Cable Hill Partners LLC now owns 635 shares of the conglomerate’s stock worth $122,000 after buying an additional 15 shares during the period. Reilly Financial Advisors LLC raised its stake in 3M by 3.9% in the first quarter. Reilly Financial Advisors LLC now owns 642 shares of the conglomerate’s stock worth $123,000 after buying an additional 24 shares during the period. Jackson Grant Investment Advisers Inc. raised its stake in 3M by 0.6% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 718 shares of the conglomerate’s stock worth $137,000 after buying an additional 4 shares during the period. American Research & Management Co. raised its stake in 3M by 8.1% in the first quarter. American Research & Management Co. now owns 935 shares of the conglomerate’s stock worth $179,000 after buying an additional 70 shares during the period. Finally, American National Bank raised its stake in 3M by 23.2% in the first quarter. American National Bank now owns 965 shares of the conglomerate’s stock worth $185,000 after buying an additional 182 shares during the period. Institutional investors and hedge funds own 65.71% of the company’s stock.

3M Company (MMM) opened at 203.53 on Friday. The stock has a market cap of $121.46 billion, a price-to-earnings ratio of 23.22 and a beta of 1.08. 3M Company has a one year low of $163.85 and a one year high of $214.57. The firm’s 50 day moving average price is $207.30 and its 200 day moving average price is $197.49.

3M (NYSE:MMM) last issued its earnings results on Tuesday, July 25th. The conglomerate reported $2.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.59 by $0.01. The company had revenue of $7.81 billion during the quarter, compared to analyst estimates of $7.86 billion. 3M had a net margin of 17.65% and a return on equity of 47.83%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the company posted $2.08 EPS. Equities analysts forecast that 3M Company will post $8.94 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Friday, August 25th will be paid a dividend of $1.175 per share. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $4.70 annualized dividend and a yield of 2.31%. 3M’s dividend payout ratio (DPR) is 53.59%.

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A number of equities research analysts have recently issued reports on MMM shares. Bank of America Corporation restated a “buy” rating and issued a $225.00 price target (up from $208.00) on shares of 3M in a research report on Tuesday, June 6th. Citigroup Inc. reiterated a “buy” rating and issued a $229.00 price objective (up from $220.00) on shares of 3M in a research report on Saturday, June 3rd. Jefferies Group LLC reiterated a “buy” rating and issued a $234.00 price objective on shares of 3M in a research report on Thursday, June 1st. Zacks Investment Research upgraded 3M from a “hold” rating to a “buy” rating and set a $223.00 price objective for the company in a research report on Friday, May 26th. Finally, Barclays PLC restated a “buy” rating on shares of 3M in a research note on Thursday, April 27th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $203.40.

In related news, insider Frank R. Jr. Little sold 2,719 shares of the stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $206.03, for a total transaction of $560,195.57. Following the sale, the insider now owns 9,010 shares in the company, valued at $1,856,330.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul A. Keel sold 4,965 shares of the stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $206.16, for a total transaction of $1,023,584.40. Following the sale, the insider now owns 5,503 shares in the company, valued at approximately $1,134,498.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,112 shares of company stock worth $1,878,890. 0.58% of the stock is owned by company insiders.

3M Company Profile

3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.

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

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