HighPoint Advisor Group LLC Has $5,206,000 Holdings in 3M Company (MMM)

HighPoint Advisor Group LLC held its stake in shares of 3M Company (NYSE:MMM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,076 shares of the conglomerate’s stock at the close of the 2nd quarter. 3M comprises approximately 1.7% of HighPoint Advisor Group LLC’s investment portfolio, making the stock its 9th largest holding. HighPoint Advisor Group LLC’s holdings in 3M were worth $5,206,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Intellectus Partners LLC lifted its stake in 3M by 20.9% in the 2nd quarter. Intellectus Partners LLC now owns 1,381 shares of the conglomerate’s stock worth $288,000 after acquiring an additional 239 shares in the last quarter. DF Dent & Co. Inc. lifted its stake in 3M by 66.4% in the 2nd quarter. DF Dent & Co. Inc. now owns 6,680 shares of the conglomerate’s stock worth $1,391,000 after acquiring an additional 2,666 shares in the last quarter. M&R Capital Management Inc. lifted its stake in 3M by 17.6% in the 2nd quarter. M&R Capital Management Inc. now owns 2,829 shares of the conglomerate’s stock worth $583,000 after acquiring an additional 423 shares in the last quarter. Cypress Capital Management LLC lifted its stake in 3M by 17.4% in the 2nd quarter. Cypress Capital Management LLC now owns 11,554 shares of the conglomerate’s stock worth $2,405,000 after acquiring an additional 1,713 shares in the last quarter. Finally, Argent Capital Management LLC purchased a new stake in 3M in the 2nd quarter worth about $287,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Shares of 3M Company (NYSE:MMM) traded up 0.26% on Thursday, hitting $217.07. The stock had a trading volume of 984,126 shares. The firm’s 50 day moving average is $209.34 and its 200-day moving average is $203.88. The stock has a market capitalization of $129.54 billion, a PE ratio of 24.76 and a beta of 1.09. 3M Company has a one year low of $163.85 and a one year high of $217.61.

3M (NYSE:MMM) last released its earnings results on Tuesday, July 25th. The conglomerate reported $2.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.59 by ($0.01). 3M had a return on equity of 47.83% and a net margin of 17.65%. The company had revenue of $7.81 billion for the quarter, compared to the consensus estimate of $7.86 billion. During the same quarter in the previous year, the company posted $2.08 EPS. The business’s revenue was up 1.9% on a year-over-year basis. Equities research analysts expect that 3M Company will post $8.96 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Friday, August 25th were given a dividend of $1.175 per share. This represents a $4.70 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend was Wednesday, August 23rd. 3M’s dividend payout ratio (DPR) is presently 53.59%.

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In other 3M news, VP Eric D. Hammes sold 1,428 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $206.66, for a total transaction of $295,110.48. Following the transaction, the vice president now owns 3,066 shares of the company’s stock, valued at $633,619.56. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Paul A. Keel sold 4,965 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $206.16, for a total value of $1,023,584.40. Following the transaction, the insider now directly 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 three months, insiders have sold 9,112 shares of company stock worth $1,878,890. Company insiders own 0.58% of the company’s stock.

MMM has been the subject of several research analyst reports. J P Morgan Chase & Co downgraded 3M from a “neutral” rating to an “underweight” rating and increased their price objective for the stock from $185.00 to $201.00 in a research note on Wednesday, September 20th. Bank of America Corporation reaffirmed a “buy” rating and issued a $227.00 target price on shares of 3M in a research report on Thursday, September 14th. Morgan Stanley reaffirmed an “underweight” rating and issued a $191.00 target price (down from $193.00) on shares of 3M in a research report on Monday, July 10th. BidaskClub lowered 3M from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 30th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $209.00 target price on shares of 3M in a research report on Friday, September 15th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $210.10.

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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