3M Company $MMM Shares Acquired by Banco Bilbao Vizcaya Argentaria S.A.

by · The Cerbat Gem

Banco Bilbao Vizcaya Argentaria S.A. grew its position in 3M Company (NYSE:MMM – Free Report) by 0.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 137,791 shares of the conglomerate’s stock after buying an additional 1,091 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in 3M were worth $20,235,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. TCV Trust & Wealth Management Inc. grew its stake in shares of 3M by 1.1% in the first quarter. TCV Trust & Wealth Management Inc. now owns 6,497 shares of the conglomerate’s stock valued at $954,000 after buying an additional 73 shares in the last quarter. Cahaba Wealth Management Inc. increased its position in shares of 3M by 1.4% during the first quarter. Cahaba Wealth Management Inc. now owns 5,580 shares of the conglomerate’s stock worth $819,000 after purchasing an additional 75 shares in the last quarter. Altman Advisors Inc. increased its position in shares of 3M by 0.5% during the first quarter. Altman Advisors Inc. now owns 16,690 shares of the conglomerate’s stock worth $2,318,000 after purchasing an additional 76 shares in the last quarter. NBT Bank N A NY increased its position in 3M by 0.8% in the 1st quarter. NBT Bank N A NY now owns 9,744 shares of the conglomerate’s stock valued at $1,431,000 after acquiring an additional 79 shares during the period. Finally, Rehmann Capital Advisory Group increased its position in 3M by 2.6% in the 1st quarter. Rehmann Capital Advisory Group now owns 3,272 shares of the conglomerate’s stock valued at $481,000 after acquiring an additional 82 shares during the period. 65.25% of the stock is owned by institutional investors and hedge funds.

3M Stock Up 0.3%

Shares of NYSE MMM opened at $152.86 on Tuesday. The stock has a fifty day moving average price of $151.14 and a 200 day moving average price of $147.12. The company has a current ratio of 1.72, a quick ratio of 1.20 and a debt-to-equity ratio of 2.87. The company has a market cap of $81.42 billion, a P/E ratio of 21.26, a P/E/G ratio of 2.95 and a beta of 1.05. 3M Company has a 12-month low of $121.98 and a 12-month high of $164.15.

3M (NYSE:MMM – Get Free Report) last announced its earnings results on Friday, July 18th. The conglomerate reported $2.16 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.15. The company had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $6.09 billion. 3M had a return on equity of 96.48% and a net margin of 16.01%. The company’s revenue was up 1.4% on a year-over-year basis. During the same period last year, the firm earned $1.93 earnings per share. Research analysts anticipate that 3M Company will post 7.8 EPS for the current fiscal year.

3M Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Monday, August 25th will be paid a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 1.9%. 3M’s dividend payout ratio is presently 40.61%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MMM. Barclays set a $170.00 price target on 3M in a research report on Friday, July 18th. Weiss Ratings restated a “hold (c+)” rating on shares of 3M in a report on Thursday, August 14th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of 3M in a research note on Friday, July 18th. Citigroup upped their target price on 3M from $141.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, May 30th. Finally, Royal Bank Of Canada increased their price target on 3M from $98.00 to $100.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, 3M has a consensus rating of “Hold” and an average price target of $158.10.

Read Our Latest Analysis on 3M

Insiders Place Their Bets

In other news, EVP John Patrick Banovetz sold 7,759 shares of the firm’s stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $148.37, for a total transaction of $1,151,202.83. Following the completion of the sale, the executive vice president directly owned 31,372 shares in the company, valued at $4,654,663.64. This trade represents a 19.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Theresa E. Reinseth sold 3,477 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $150.63, for a total value of $523,740.51. Following the sale, the chief accounting officer owned 2,561 shares of the company’s stock, valued at $385,763.43. This represents a 57.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,817,401 shares of company stock valued at $648,960,803 over the last ninety days. Insiders own 0.48% of the company’s stock.

3M Profile

(Free Report)

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.

See Also

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