Community Bank N.A. Raises Stock Holdings in 3M Co (NYSE:MMM)

Community Bank N.A. raised its position in 3M Co (NYSE:MMM) by 3.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,238 shares of the conglomerate’s stock after buying an additional 795 shares during the quarter. Community Bank N.A.’s holdings in 3M were worth $4,202,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Creative Financial Designs Inc. ADV increased its holdings in shares of 3M by 202.0% in the first quarter. Creative Financial Designs Inc. ADV now owns 151 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 101 shares during the period. Weaver Consulting Group acquired a new position in shares of 3M in the first quarter valued at approximately $32,000. Cordasco Financial Network increased its holdings in shares of 3M by 220.0% in the first quarter. Cordasco Financial Network now owns 160 shares of the conglomerate’s stock valued at $33,000 after purchasing an additional 110 shares during the period. Capital Financial Planning LLC acquired a new position in 3M during the fourth quarter worth $34,000. Finally, Arcus Capital Partners LLC acquired a new position in 3M during the second quarter worth $35,000. Institutional investors own 66.98% of the company’s stock.

In related news, Director Gregory R. Page acquired 1,000 shares of 3M stock in a transaction dated Thursday, May 9th. The shares were acquired at an average cost of $176.26 per share, for a total transaction of $176,260.00. Following the completion of the transaction, the director now directly owns 4,000 shares of the company’s stock, valued at $705,040. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David B. Dillon bought 1,200 shares of 3M stock in a transaction that occurred on Friday, May 17th. The shares were acquired at an average price of $169.50 per share, for a total transaction of $203,400.00. Following the completion of the transaction, the director now directly owns 1,200 shares of the company’s stock, valued at approximately $203,400. The disclosure for this purchase can be found here. 0.83% of the stock is owned by corporate insiders.

A number of research analysts recently weighed in on the company. Royal Bank of Canada set a $179.00 price objective on 3M and gave the stock a “hold” rating in a report on Friday, July 26th. Gordon Haskett lowered 3M from a “buy” rating to a “hold” rating and set a $191.98 price objective on the stock. in a report on Monday, April 29th. Deutsche Bank dropped their price objective on 3M from $188.00 to $183.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Citigroup dropped their price objective on 3M from $221.00 to $197.00 and set a “buy” rating on the stock in a report on Monday, June 3rd. Finally, Wolfe Research set a $174.00 price objective on 3M and gave the stock a “sell” rating in a report on Friday, April 26th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $182.54.

MMM opened at $163.71 on Wednesday. The business’s fifty day moving average price is $172.76. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.34 and a current ratio of 1.93. The stock has a market capitalization of $98.11 billion, a P/E ratio of 15.65, a price-to-earnings-growth ratio of 1.79 and a beta of 1.09. 3M Co has a one year low of $159.32 and a one year high of $219.75.

3M (NYSE:MMM) last posted its earnings results on Thursday, July 25th. The conglomerate reported $2.20 EPS for the quarter, topping the Zacks’ consensus estimate of $2.04 by $0.16. The company had revenue of $8.17 billion for the quarter, compared to the consensus estimate of $8.10 billion. 3M had a return on equity of 55.05% and a net margin of 15.27%. 3M’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.59 earnings per share. Equities analysts anticipate that 3M Co will post 9.35 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Friday, August 16th will be given a dividend of $1.44 per share. This represents a $5.76 dividend on an annualized basis and a yield of 3.52%. 3M’s payout ratio is 55.07%.

3M Company Profile

3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, abrasion-resistant films, and paint finishing and detailing products.

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

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