Trust Co. of Toledo NA OH Buys 2,025 Shares of 3M Company $MMM

Trust Co. of Toledo NA OH lifted its stake in 3M Company (NYSE:MMM - Free Report) by 32.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,220 shares of the conglomerate's stock after buying an additional 2,025 shares during the quarter. Trust Co. of Toledo NA OH's holdings in 3M were worth $1,251,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Invesco Ltd. raised its stake in shares of 3M by 0.7% in the first quarter. Invesco Ltd. now owns 4,498,809 shares of the conglomerate's stock worth $660,695,000 after buying an additional 30,260 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of 3M by 10.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,198,538 shares of the conglomerate's stock worth $616,597,000 after buying an additional 414,160 shares during the period. Alliancebernstein L.P. raised its stake in shares of 3M by 23.1% in the first quarter. Alliancebernstein L.P. now owns 3,127,734 shares of the conglomerate's stock worth $459,339,000 after buying an additional 586,851 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of 3M by 6.8% in the first quarter. Goldman Sachs Group Inc. now owns 3,122,020 shares of the conglomerate's stock worth $458,500,000 after buying an additional 199,944 shares during the period. Finally, Amundi raised its stake in 3M by 20.7% during the 1st quarter. Amundi now owns 3,030,397 shares of the conglomerate's stock valued at $423,471,000 after purchasing an additional 519,302 shares during the period. Institutional investors own 65.25% of the company's stock.

Insider Buying and Selling at 3M

In other 3M news, CAO Theresa E. Reinseth sold 3,477 shares of the company's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $150.63, for a total value of $523,740.51. Following the completion of the sale, the chief accounting officer directly owned 2,561 shares in the company, valued at approximately $385,763.43. This represents a 57.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christian T. Goralski, Jr. sold 6,165 shares of the company's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $150.18, for a total value of $925,859.70. Following the completion of the sale, the insider owned 2,900 shares of the company's stock, valued at $435,522. This represents a 68.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MMM has been the topic of a number of research analyst reports. Weiss Ratings reissued a "buy (b-)" rating on shares of 3M in a report on Wednesday. Wells Fargo & Company boosted their price target on 3M from $170.00 to $176.00 and gave the stock an "overweight" rating in a report on Monday, October 6th. Deutsche Bank Aktiengesellschaft boosted their price target on 3M from $177.00 to $185.00 and gave the stock a "buy" rating in a report on Thursday, October 2nd. Barclays set a $170.00 price objective on 3M in a research note on Friday, July 18th. Finally, Citigroup lifted their price objective on 3M from $160.00 to $169.00 and gave the stock a "neutral" rating in a research note on Thursday. Nine equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $165.60.

3M Price Performance

MMM opened at $148.74 on Friday. The business has a fifty day moving average of $154.88 and a 200 day moving average of $148.63. 3M Company has a 52-week low of $121.98 and a 52-week high of $164.15. The company has a quick ratio of 1.20, a current ratio of 1.72 and a debt-to-equity ratio of 2.87. The stock has a market cap of $79.22 billion, a P/E ratio of 20.69, a PEG ratio of 2.46 and a beta of 1.05.

3M (NYSE:MMM - Get Free Report) last posted its quarterly earnings data on Tuesday, February 21st. The conglomerate reported $2.45 earnings per share (EPS) for the quarter. 3M had a return on equity of 96.48% and a net margin of 16.01%.The company had revenue of $8.38 billion during the quarter. As a group, sell-side analysts anticipate that 3M Company will post 7.8 EPS for the current year.

3M Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Monday, August 25th were issued a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Monday, August 25th. 3M's dividend payout ratio is currently 40.61%.

About 3M

3M Company provides diversified technology services in the United States and internationally. The company's Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.

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