Meadow Creek Investment Management LLC Has $974,000 Position in 3M Company (NYSE:MMM)

Meadow Creek Investment Management LLC raised its position in 3M Company (NYSE:MMM) by 24.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,088 shares of the conglomerate’s stock after buying an additional 1,008 shares during the period. Meadow Creek Investment Management LLC’s holdings in 3M were worth $974,000 as of its most recent SEC filing.

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

Shares of 3M Company (MMM) opened at 203.53 on Friday. The company’s 50-day moving average price is $207.30 and its 200-day moving average price is $197.49. 3M Company has a 52-week low of $163.85 and a 52-week high of $214.57. The firm has a market cap of $121.46 billion, a PE ratio of 23.22 and a beta of 1.08.

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

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

TRADEMARK VIOLATION NOTICE: “Meadow Creek Investment Management LLC Has $974,000 Position in 3M Company (NYSE:MMM)” was originally published by BNB Daily and is the property of of BNB Daily. If you are viewing this report on another site, it was stolen and republished in violation of U.S. & international copyright & trademark law. The original version of this report can be read at https://www.baseball-news-blog.com/2017/08/19/3m-company-nysemmm-shares-bought-by-meadow-creek-investment-management-llc-updated-updated.html.

Several brokerages have commented on MMM. Zacks Investment Research upgraded 3M from a “hold” rating to a “buy” rating and set a $237.00 price objective for the company in a research note on Monday, June 19th. Stifel Nicolaus reissued a “hold” rating and issued a $202.00 price target on shares of 3M in a report on Wednesday, July 19th. Morgan Stanley reissued an “underweight” rating and issued a $191.00 price target (down previously from $193.00) on shares of 3M in a report on Monday, July 10th. BidaskClub cut 3M from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $234.00 price target on shares of 3M in a research report on Wednesday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $203.40.

In related news, VP Eric D. Hammes sold 1,428 shares of the stock in a transaction on Thursday, August 17th. The shares were 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 approximately $633,619.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Frank R. Jr. Little sold 2,719 shares of the stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $206.03, for a total transaction of $560,195.57. Following the transaction, the insider now directly owns 9,010 shares in the company, valued at approximately $1,856,330.30. The disclosure for this sale can be found here. Insiders have sold a total of 9,112 shares of company stock worth $1,878,890 in the last ninety days. 0.58% of the stock is currently owned by insiders.

About 3M

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)

Receive News & Ratings for 3M Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 3M Company and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply