3M Co (MMM) Shares Sold by Private Asset Management Inc.

Private Asset Management Inc. lowered its holdings in 3M Co (NYSE:MMM) by 20.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 4,358 shares of the conglomerate’s stock after selling 1,100 shares during the quarter. Private Asset Management Inc.’s holdings in 3M were worth $1,026,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Advisor Partners LLC lifted its stake in shares of 3M by 4.6% in the 3rd quarter. Advisor Partners LLC now owns 17,127 shares of the conglomerate’s stock valued at $3,595,000 after purchasing an additional 747 shares during the period. Griffin Asset Management Inc. lifted its stake in shares of 3M by 51.7% in the 3rd quarter. Griffin Asset Management Inc. now owns 27,576 shares of the conglomerate’s stock valued at $5,788,000 after purchasing an additional 9,394 shares during the period. Twin Capital Management Inc. purchased a new position in shares of 3M in the 2nd quarter valued at approximately $6,178,000. Aperio Group LLC lifted its stake in shares of 3M by 6.8% in the 3rd quarter. Aperio Group LLC now owns 559,122 shares of the conglomerate’s stock valued at $117,360,000 after purchasing an additional 35,815 shares during the period. Finally, Gotham Asset Management LLC lifted its stake in shares of 3M by 3.6% in the 1st quarter. Gotham Asset Management LLC now owns 99,873 shares of the conglomerate’s stock valued at $19,109,000 after purchasing an additional 3,427 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

3M Co (NYSE:MMM) traded up $1.86 during trading on Friday, hitting $240.57. The company’s stock had a trading volume of 1,835,609 shares, compared to its average volume of 2,300,824. The company has a market cap of $143,290.00, a price-to-earnings ratio of 26.85, a price-to-earnings-growth ratio of 2.34 and a beta of 1.10. 3M Co has a twelve month low of $173.55 and a twelve month high of $244.23. The company has a current ratio of 2.07, a quick ratio of 1.47 and a debt-to-equity ratio of 0.89.

3M (NYSE:MMM) last posted its earnings results on Tuesday, October 24th. The conglomerate reported $2.33 EPS for the quarter, topping the Zacks’ consensus estimate of $2.21 by $0.12. The business had revenue of $8.17 billion during the quarter, compared to analyst estimates of $7.93 billion. 3M had a return on equity of 48.55% and a net margin of 17.71%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.15 EPS. research analysts expect that 3M Co will post 9.09 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 12th. Shareholders of record on Friday, November 24th were issued a $0.0118 dividend. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date of this dividend was Wednesday, November 22nd. 3M’s payout ratio is 52.46%.

In other 3M news, VP Khandpur K. Ashish sold 4,004 shares of 3M stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $231.39, for a total value of $926,485.56. Following the completion of the sale, the vice president now owns 5,236 shares of the company’s stock, valued at approximately $1,211,558.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP James L. Bauman sold 2,000 shares of 3M stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $230.89, for a total value of $461,780.00. Following the completion of the sale, the executive vice president now directly owns 14,362 shares of the company’s stock, valued at approximately $3,316,042.18. The disclosure for this sale can be found here. In the last three months, insiders sold 22,804 shares of company stock valued at $5,303,706. Corporate insiders own 0.58% of the company’s stock.

A number of research firms recently weighed in on MMM. Bank of America reaffirmed a “buy” rating and set a $227.00 price objective on shares of 3M in a research report on Thursday, September 14th. Royal Bank of Canada reaffirmed a “hold” rating and set a $209.00 price objective on shares of 3M in a research report on Friday, September 15th. JPMorgan Chase & Co. lowered 3M from a “neutral” rating to an “underweight” rating and raised their price objective for the company from $185.00 to $201.00 in a research report on Wednesday, September 20th. Morgan Stanley raised their price objective on 3M from $190.00 to $201.00 and gave the company an “underweight” rating in a research report on Monday, October 2nd. Finally, Zacks Investment Research lowered 3M from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $231.59.

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About 3M

3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, , appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.

Institutional Ownership by Quarter for 3M (NYSE:MMM)

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