3M (NYSE:MMM) Shares Purchased by Distillate Capital Partners LLC


Distillate Capital Partners LLC increased its holdings in shares of 3M (NYSE:MMM) by 1.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,363 shares of the conglomerate’s stock after purchasing an additional 272 shares during the period. 3M accounts for 1.1% of Distillate Capital Partners LLC’s investment portfolio, making the stock its 24th largest holding. Distillate Capital Partners LLC’s holdings in 3M were worth $3,846,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Geode Capital Management LLC boosted its stake in 3M by 11.8% during the 1st quarter. Geode Capital Management LLC now owns 9,843,874 shares of the conglomerate’s stock worth $1,892,169,000 after purchasing an additional 1,036,538 shares during the period. Flossbach Von Storch AG lifted its stake in shares of 3M by 8.8% in the 1st quarter. Flossbach Von Storch AG now owns 9,713,725 shares of the conglomerate’s stock worth $1,871,641,000 after acquiring an additional 781,642 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of 3M by 1.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 7,800,046 shares of the conglomerate’s stock worth $1,502,913,000 after acquiring an additional 73,832 shares during the period. Pendal Group Limited lifted its stake in shares of 3M by 103,772.8% in the 1st quarter. Pendal Group Limited now owns 5,826,225 shares of the conglomerate’s stock worth $1,122,670,000 after acquiring an additional 5,820,616 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in shares of 3M by 5.2% in the 2nd quarter. Fisher Asset Management LLC now owns 5,392,922 shares of the conglomerate’s stock worth $1,071,196,000 after acquiring an additional 265,476 shares during the period. Hedge funds and other institutional investors own 64.80% of the company’s stock.


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In other 3M news, SVP Denise R. Rutherford sold 3,135 shares of the business’s stock in a transaction on Monday, August 2nd. The shares were sold at an average price of $198.17, for a total transaction of $621,262.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Khandpur K. Ashish sold 6,505 shares of the business’s stock in a transaction on Monday, August 9th. The shares were sold at an average price of $196.86, for a total transaction of $1,280,574.30. Following the sale, the insider now owns 26,855 shares of the company’s stock, valued at approximately $5,286,675.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,666 shares of company stock valued at $4,103,569. Insiders own 0.34% of the company’s stock.


Several research firms have recently commented on MMM. Deutsche Bank Aktiengesellschaft raised their target price on shares of 3M from $196.00 to $201.00 and gave the stock a “hold” rating in a research note on Wednesday, July 28th. Argus increased their price target on shares of 3M from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, July 28th. They noted that the move was a valuation call. Wolfe Research downgraded shares of 3M from a “peer perform” rating to an “underperform” rating and cut their price target for the company from $218.00 to $215.00 in a report on Monday, July 12th. Zacks Investment Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $208.00 target price for the company in a report on Friday, August 6th. Finally, Royal Bank of Canada raised their target price on shares of 3M from $198.00 to $200.00 and gave the company a “sector perform” rating in a report on Wednesday, April 28th. Three 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. The stock presently has an average rating of “Hold” and an average price target of $198.92.


Shares of NYSE MMM traded down $2.77 during trading on Tuesday, reaching $199.55. 2,282,929 shares of the stock were exchanged, compared to its average volume of 2,411,057. The business’s 50-day moving average price is $198.98. 3M has a twelve month low of $156.13 and a twelve month high of $208.95. The company has a quick ratio of 1.22, a current ratio of 1.73 and a debt-to-equity ratio of 1.12. The company has a market cap of $115.47 billion, a P/E ratio of 19.62, a price-to-earnings-growth ratio of 2.09 and a beta of 0.96.

3M (NYSE:MMM) last posted its earnings results on Monday, July 26th. The conglomerate reported $2.59 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.31. 3M had a net margin of 17.13% and a return on equity of 44.72%. The business had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.59 billion. During the same period in the previous year, the company posted $1.78 earnings per share. The business’s revenue for the quarter was up 24.0% compared to the same quarter last year. Equities analysts anticipate that 3M will post 10.11 earnings per share for the current year.


The business also recently declared a quarterly dividend, which will be paid on Sunday, September 12th. Investors of record on Monday, August 23rd will be paid a $1.48 dividend. The ex-dividend date of this dividend is Friday, August 20th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 2.97%. 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:<b><a href=MMM)' width='650' height='350'/>

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