3M Co (MMM) Holdings Trimmed by Eads & Heald Investment Counsel

Eads & Heald Investment Counsel decreased its position in 3M Co (NYSE:MMM) by 4.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 9,161 shares of the conglomerate’s stock after selling 401 shares during the period. 3M accounts for about 1.3% of Eads & Heald Investment Counsel’s portfolio, making the stock its 20th largest position. Eads & Heald Investment Counsel’s holdings in 3M were worth $2,156,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Lenox Wealth Advisors Inc. increased its stake in shares of 3M by 16,300.0% during the fourth quarter. Lenox Wealth Advisors Inc. now owns 492 shares of the conglomerate’s stock worth $116,000 after purchasing an additional 489 shares in the last quarter. Horan Capital Management purchased a new stake in shares of 3M during the fourth quarter worth about $123,000. MPS Loria Financial Planners LLC purchased a new stake in shares of 3M during the second quarter worth about $124,000. Hoertkorn Richard Charles purchased a new stake in shares of 3M during the third quarter worth about $126,000. Finally, Sawyer & Company Inc purchased a new stake in shares of 3M during the fourth quarter worth about $138,000. 66.38% of the stock is owned by institutional investors.

3M Co (NYSE MMM) opened at $222.89 on Friday. The firm has a market cap of $138,721.05, a PE ratio of 28.14, a P/E/G ratio of 2.16 and a beta of 1.08. 3M Co has a 52-week low of $176.87 and a 52-week high of $259.77. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.33 and a current ratio of 1.86.

3M (NYSE:MMM) last posted its quarterly earnings results on Thursday, January 25th. The conglomerate reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.07. The firm had revenue of $7.99 billion for the quarter, compared to analyst estimates of $7.85 billion. 3M had a net margin of 15.35% and a return on equity of 48.34%. 3M’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.88 earnings per share. analysts anticipate that 3M Co will post 10.6 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Friday, February 16th will be given a dividend of $1.36 per share. The ex-dividend date of this dividend is Thursday, February 15th. This is a positive change from 3M’s previous quarterly dividend of $0.01. This represents a $5.44 dividend on an annualized basis and a yield of 2.44%. 3M’s payout ratio is presently 59.34%.

A number of research firms have recently commented on MMM. Zacks Investment Research cut shares of 3M from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Vetr raised shares of 3M from a “hold” rating to a “buy” rating and set a $250.06 target price for the company in a research note on Monday. Goldman Sachs Group reissued a “sell” rating on shares of 3M in a research note on Thursday, October 26th. Stifel Nicolaus boosted their target price on shares of 3M from $220.00 to $244.00 and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Finally, Citigroup boosted their target price on shares of 3M from $268.00 to $278.00 and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. 3M currently has an average rating of “Hold” and a consensus target price of $249.63.

In other 3M news, VP Ippocratis Vrohidis sold 225 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $249.68, for a total value of $56,178.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael F. Roman sold 4,146 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $246.65, for a total transaction of $1,022,610.90. Following the completion of the transaction, the executive vice president now owns 16,208 shares in the company, valued at $3,997,703.20. The disclosure for this sale can be found here. Insiders have sold 49,673 shares of company stock worth $12,420,577 over the last 90 days. 0.58% of the stock is currently owned by company insiders.

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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.

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

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