Clear Perspective Advisors LLC Boosts Holdings in 3M Company (MMM)

Clear Perspective Advisors LLC boosted its position in shares of 3M Company (NYSE:MMM) by 340.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,164 shares of the conglomerate’s stock after buying an additional 900 shares during the quarter. Clear Perspective Advisors LLC’s holdings in 3M were worth $244,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. First Eagle Investment Management LLC lifted its stake in shares of 3M by 3.9% in the 1st quarter. First Eagle Investment Management LLC now owns 4,413,897 shares of the conglomerate’s stock valued at $844,511,000 after purchasing an additional 167,491 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of 3M by 0.3% in the 1st quarter. Ameriprise Financial Inc. now owns 3,275,913 shares of the conglomerate’s stock valued at $626,792,000 after purchasing an additional 8,239 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of 3M by 3.4% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 2,796,201 shares of the conglomerate’s stock valued at $534,998,000 after purchasing an additional 92,789 shares during the period. UBS Asset Management Americas Inc. lifted its stake in shares of 3M by 4.9% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,916,848 shares of the conglomerate’s stock valued at $399,069,000 after purchasing an additional 89,307 shares during the period. Finally, New York State Common Retirement Fund lifted its stake in shares of 3M by 0.5% in the 3rd quarter. New York State Common Retirement Fund now owns 1,700,225 shares of the conglomerate’s stock valued at $356,877,000 after purchasing an additional 8,500 shares during the period. 66.33% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have recently weighed in on MMM shares. ValuEngine downgraded 3M from a “buy” rating to a “hold” rating in a research note on Friday. Zacks Investment Research cut shares of 3M from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Citigroup restated a “buy” rating and issued a $250.00 price objective (up previously from $228.00) on shares of 3M in a research report on Monday, October 9th. Royal Bank Of Canada upped their price objective on shares of 3M from $205.00 to $209.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 25th. Finally, Credit Suisse Group restated an “outperform” rating and issued a $237.00 price objective (up previously from $229.00) on shares of 3M in a research report on Wednesday, October 11th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $231.16.

3M Company (MMM) traded down $1.89 during mid-day trading on Tuesday, reaching $239.26. The company’s stock had a trading volume of 2,468,700 shares, compared to its average volume of 1,841,361. The company has a market cap of $143,630.91, a PE ratio of 26.94, a PEG ratio of 2.61 and a beta of 1.10. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.47 and a current ratio of 2.07. 3M Company has a 52-week low of $171.09 and a 52-week high of $244.23.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $2.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.21 by $0.12. The company had revenue of $8.17 billion during the quarter, compared to analysts’ expectations of $7.93 billion. 3M had a return on equity of 48.55% and a net margin of 17.71%. 3M’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.15 EPS. equities analysts expect that 3M Company will post 9.08 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Friday, November 24th will be issued a $0.0118 dividend. This represents a $0.05 annualized dividend and a dividend yield of 0.02%. The ex-dividend date is Wednesday, November 22nd. 3M’s payout ratio is 52.51%.

In other news, CAO Ippocratis Vrohidis sold 1,725 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $230.34, for a total value of $397,336.50. Following the completion of the transaction, the chief accounting officer now owns 898 shares in the company, valued at approximately $206,845.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jon T. Lindekugel sold 400 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $230.06, for a total value of $92,024.00. The disclosure for this sale can be found here. Insiders sold a total of 22,804 shares of company stock valued at $5,303,706 in the last 90 days. 0.58% of the stock is owned by corporate insiders.

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3M 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, , 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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