Copeland Capital Management LLC Invests $205,000 in 3M (NYSE:MMM)

Copeland Capital Management LLC bought a new position in 3M (NYSE:MMM) during the 3rd quarter, Holdings Channel.com reports. The fund bought 1,500 shares of the conglomerate’s stock, valued at approximately $205,000.

Several other hedge funds have also recently modified their holdings of MMM. Tributary Capital Management LLC purchased a new position in shares of 3M in the first quarter worth $25,000. MFA Wealth Advisors LLC purchased a new position in shares of 3M in the second quarter worth $28,000. Daymark Wealth Partners LLC lifted its holdings in shares of 3M by 8.6% in the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock worth $30,000 after buying an additional 17,211 shares in the last quarter. McClarren Financial Advisors Inc. lifted its holdings in shares of 3M by 118.6% in the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after buying an additional 121 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its holdings in shares of 3M by 689.7% in the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock worth $31,000 after buying an additional 269 shares in the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Trading Down 2.3 %

NYSE MMM opened at $131.73 on Wednesday. The company’s 50-day moving average price is $133.03 and its 200-day moving average price is $113.46. The company has a current ratio of 1.36, a quick ratio of 1.08 and a debt-to-equity ratio of 2.95. The stock has a market cap of $72.89 billion, a PE ratio of -10.36, a PEG ratio of 2.49 and a beta of 0.95. 3M has a 12 month low of $71.12 and a 12 month high of $141.34.

3M (NYSE:MMM) last posted its quarterly earnings results on Friday, July 26th. The conglomerate reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.25. The firm had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $5.85 billion. 3M had a net margin of 3.08% and a return on equity of 112.92%. During the same period in the prior year, the business posted $2.17 earnings per share. Equities research analysts forecast that 3M will post 7.24 earnings per share for the current year.

3M Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend was Monday, August 26th. 3M’s payout ratio is presently -22.01%.

Insider Transactions at 3M

In other news, Chairman Michael F. Roman sold 5,675 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total value of $700,635.50. Following the transaction, the chairman now directly owns 174,036 shares in the company, valued at approximately $21,486,484.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other 3M news, CFO Theresa E. Reinseth sold 2,100 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total transaction of $260,652.00. Following the transaction, the chief financial officer now directly owns 4,364 shares in the company, valued at $541,659.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Michael F. Roman sold 5,675 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total transaction of $700,635.50. Following the transaction, the chairman now owns 174,036 shares in the company, valued at approximately $21,486,484.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MMM shares. Argus raised shares of 3M from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a research note on Tuesday, July 30th. Royal Bank of Canada upped their price target on shares of 3M from $93.00 to $95.00 and gave the company an “underperform” rating in a research note on Monday, July 29th. Citigroup upped their price target on shares of 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Barclays upped their price target on shares of 3M from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Finally, Bank of America upped their price target on shares of 3M from $120.00 to $143.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $133.87.

3M Company Profile

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.