Seaward Management Limited Partnership Cuts Holdings in 3M Co (MMM)

Seaward Management Limited Partnership decreased its holdings in shares of 3M Co (NYSE:MMM) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 95,372 shares of the conglomerate’s stock after selling 1,540 shares during the quarter. Seaward Management Limited Partnership’s holdings in 3M were worth $22,447,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Schwab Charles Investment Management Inc. lifted its holdings in 3M by 4.7% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 3,171,136 shares of the conglomerate’s stock valued at $746,391,000 after purchasing an additional 142,799 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in 3M by 0.5% during the 3rd quarter. New York State Common Retirement Fund now owns 1,700,225 shares of the conglomerate’s stock valued at $356,877,000 after purchasing an additional 8,500 shares during the last quarter. APG Asset Management N.V. lifted its holdings in 3M by 128.1% during the 4th quarter. APG Asset Management N.V. now owns 1,427,350 shares of the conglomerate’s stock valued at $279,776,000 after purchasing an additional 801,639 shares during the last quarter. Rhumbline Advisers lifted its holdings in 3M by 0.9% during the 3rd quarter. Rhumbline Advisers now owns 1,124,531 shares of the conglomerate’s stock valued at $236,039,000 after purchasing an additional 9,617 shares during the last quarter. Finally, Bank of Montreal Can lifted its holdings in 3M by 38.9% during the 4th quarter. Bank of Montreal Can now owns 930,370 shares of the conglomerate’s stock valued at $218,981,000 after purchasing an additional 260,349 shares during the last quarter. 66.38% of the stock is owned by institutional investors and hedge funds.

3M Co (NYSE MMM) opened at $225.21 on Friday. The company has a current ratio of 1.86, a quick ratio of 1.33 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $132,731.00, a price-to-earnings ratio of 28.44, a price-to-earnings-growth ratio of 2.07 and a beta of 1.08. 3M Co has a 12-month low of $178.19 and a 12-month high of $259.77.

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

The business 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 $1.36 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.42%. This is a boost from 3M’s previous quarterly dividend of $0.01. 3M’s dividend payout ratio (DPR) is presently 59.34%.

In related news, EVP Michael F. Roman sold 4,146 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $246.65, for a total value of $1,022,610.90. Following the transaction, the executive vice president now owns 16,208 shares in the company, valued at $3,997,703.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Inge G. Thulin sold 35,236 shares of the firm’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $251.14, for a total value of $8,849,169.04. Following the completion of the transaction, the chairman now owns 253,873 shares in the company, valued at approximately $63,757,665.22. The disclosure for this sale can be found here. Insiders sold 49,673 shares of company stock worth $12,420,577 in the last 90 days. 0.58% of the stock is owned by company insiders.

Several brokerages have issued reports on MMM. Zacks Investment Research raised 3M from a “hold” rating to a “buy” rating and set a $290.00 price target for the company in a report on Tuesday, January 30th. Royal Bank of Canada reaffirmed a “hold” rating and set a $254.00 price target on shares of 3M in a report on Thursday, January 25th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $221.00 price target (up previously from $208.00) on shares of 3M in a report on Thursday, January 18th. UBS Group began coverage on 3M in a report on Tuesday, January 23rd. They set a “neutral” rating and a $262.00 price target for the company. Finally, Hilliard Lyons raised 3M from a “neutral” rating to a “buy” rating and set a $285.00 price target for the company in a report on Wednesday, January 24th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $249.93.

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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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