Banco Santander S.A. Has $9.65 Million Stake in 3M (NYSE:MMM)

Banco Santander S.A. trimmed its holdings in 3M (NYSE:MMMGet Rating) by 2.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 64,841 shares of the conglomerate’s stock after selling 1,520 shares during the period. Banco Santander S.A.’s holdings in 3M were worth $9,654,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Landmark Wealth Management LLC acquired a new stake in 3M during the 1st quarter worth approximately $25,000. DB Fitzpatrick & Co Inc acquired a new stake in 3M during the 4th quarter worth approximately $29,000. Ritter Daniher Financial Advisory LLC lifted its holdings in 3M by 98.9% during the 4th quarter. Ritter Daniher Financial Advisory LLC now owns 179 shares of the conglomerate’s stock worth $32,000 after purchasing an additional 89 shares during the last quarter. US Asset Management LLC acquired a new stake in 3M during the 1st quarter worth approximately $34,000. Finally, First Quadrant LLC CA acquired a new position in 3M in the 1st quarter valued at $34,000. 67.22% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Theresa E. Reinseth sold 795 shares of the business’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $143.32, for a total transaction of $113,939.40. Following the sale, the chief accounting officer now owns 1,603 shares in the company, valued at approximately $229,741.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other 3M news, CAO Theresa E. Reinseth sold 795 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $143.32, for a total value of $113,939.40. Following the sale, the chief accounting officer now owns 1,603 shares in the company, valued at approximately $229,741.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael G. Vale sold 36,771 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $143.26, for a total value of $5,267,813.46. Following the completion of the sale, the insider now owns 65,321 shares in the company, valued at approximately $9,357,886.46. The disclosure for this sale can be found here. Insiders have sold 41,465 shares of company stock worth $5,956,664 in the last 90 days. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on MMM shares. Argus cut 3M from a “buy” rating to a “hold” rating in a report on Thursday, April 28th. Deutsche Bank Aktiengesellschaft lifted their price objective on 3M from $146.00 to $148.00 and gave the company a “hold” rating in a report on Wednesday, July 27th. Wells Fargo & Company lifted their price objective on 3M from $137.00 to $144.00 and gave the company an “equal weight” rating in a report on Wednesday, July 27th. Morgan Stanley lifted their price objective on 3M from $126.00 to $131.00 and gave the company an “underweight” rating in a report on Wednesday, July 27th. Finally, TheStreet cut 3M from a “b-” rating to a “c+” rating in a report on Wednesday, June 29th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, 3M has an average rating of “Hold” and an average target price of $152.00.

3M Trading Down 0.5 %

Shares of MMM stock opened at $147.41 on Friday. The firm has a market capitalization of $83.96 billion, a P/E ratio of 20.59, a P/E/G ratio of 1.50 and a beta of 0.97. 3M has a twelve month low of $125.60 and a twelve month high of $202.77. The company has a quick ratio of 0.90, a current ratio of 1.47 and a debt-to-equity ratio of 1.01. The stock’s fifty day simple moving average is $136.16 and its 200 day simple moving average is $146.39.

3M (NYSE:MMMGet Rating) last issued its quarterly earnings data on Tuesday, July 26th. The conglomerate reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.01. The business had revenue of $8.70 billion for the quarter, compared to analyst estimates of $8.70 billion. 3M had a return on equity of 39.11% and a net margin of 11.83%. 3M’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.59 EPS. As a group, sell-side analysts predict that 3M will post 10.4 EPS for the current fiscal year.

3M Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 12th. Investors of record on Friday, May 20th were given a dividend of $1.49 per share. The ex-dividend date was Thursday, May 19th. This represents a $5.96 dividend on an annualized basis and a yield of 4.04%. 3M’s dividend payout ratio is currently 83.24%.

3M Company Profile

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3M Company operates as a diversified technology company worldwide. It operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The 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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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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