Dohj LLC Sells 1,144 Shares of 3M (NYSE:MMM)

Dohj LLC lessened its stake in 3M (NYSE:MMM) by 19.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,797 shares of the conglomerate’s stock after selling 1,144 shares during the period. Dohj LLC’s holdings in 3M were worth $953,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kornitzer Capital Management Inc. KS lifted its stake in shares of 3M by 1.2% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 119,687 shares of the conglomerate’s stock valued at $23,773,000 after acquiring an additional 1,410 shares during the last quarter. Mattern Capital Management LLC raised its position in 3M by 2.6% during the 2nd quarter. Mattern Capital Management LLC now owns 27,904 shares of the conglomerate’s stock valued at $5,543,000 after purchasing an additional 705 shares during the last quarter. Ieq Capital LLC raised its position in 3M by 29.1% during the 2nd quarter. Ieq Capital LLC now owns 10,157 shares of the conglomerate’s stock valued at $2,017,000 after purchasing an additional 2,287 shares during the last quarter. Altium Wealth Management LLC raised its position in 3M by 14.3% during the 1st quarter. Altium Wealth Management LLC now owns 12,440 shares of the conglomerate’s stock valued at $2,397,000 after purchasing an additional 1,557 shares during the last quarter. Finally, Providence First Trust Co bought a new position in 3M during the 1st quarter valued at approximately $2,387,000. 66.82% of the stock is owned by institutional investors.

In other news, SVP Denise R. Rutherford sold 3,135 shares of the stock in a transaction on Monday, August 2nd. The stock was sold at an average price of $198.17, for a total transaction of $621,262.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Eric D. Hammes sold 1,765 shares of the stock in a transaction on Tuesday, August 3rd. The shares were sold at an average price of $201.83, for a total value of $356,229.95. Following the transaction, the insider now directly owns 6,756 shares in the company, valued at $1,363,563.48. The disclosure for this sale can be found here. Insiders sold a total of 20,666 shares of company stock worth $4,103,569 over the last ninety days. 0.34% of the stock is currently owned by insiders.

A number of research firms have commented on MMM. Argus upped their price target on 3M from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, July 28th. They noted that the move was a valuation call. Wolfe Research downgraded 3M from a “peer perform” rating to an “underperform” rating and reduced their target price for the stock from $218.00 to $215.00 in a report on Monday, July 12th. Deutsche Bank Aktiengesellschaft upped their target price on 3M from $196.00 to $201.00 and gave the stock a “hold” rating in a report on Wednesday, July 28th. Credit Suisse Group downgraded 3M from an “outperform” rating to a “neutral” rating and upped their target price for the stock from $210.00 to $212.00 in a report on Tuesday, July 6th. Finally, Zacks Investment Research upgraded 3M from a “hold” rating to a “buy” rating and set a $208.00 target price on the stock in a report on Friday, August 6th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, 3M presently has an average rating of “Hold” and an average price target of $198.92.

Shares of 3M stock traded up $1.33 during midday trading on Wednesday, hitting $183.75. The company had a trading volume of 51,607 shares, compared to its average volume of 2,424,369. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.22 and a current ratio of 1.73. The stock has a market capitalization of $106.32 billion, a P/E ratio of 17.94, a P/E/G ratio of 1.92 and a beta of 0.96. The company has a 50 day moving average of $196.65 and a 200 day moving average of $196.42. 3M has a 52-week low of $156.13 and a 52-week high of $208.95.

3M (NYSE:MMM) last released its quarterly earnings data on Monday, July 26th. The conglomerate reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.31. The business had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.59 billion. 3M had a return on equity of 44.72% and a net margin of 17.13%. The firm’s quarterly revenue was up 24.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.78 EPS. Equities research analysts forecast that 3M will post 10.11 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 12th. Investors of record on Monday, August 23rd were given a $1.48 dividend. The ex-dividend date of this dividend was Friday, August 20th. This represents a $5.92 annualized dividend and a yield of 3.22%. 3M’s dividend payout ratio (DPR) is presently 67.73%.

3M Company Profile

3M Co is a technology company, which manufactures industrial, safety and consumer products. It operates through the following segments: Safety and Industrial, Transportation and Electronics, Health Care, and Consumer. The Safety and Industrial segment consists of personal safety, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules.

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

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