Wells Trecaso Financial Group LLC Sells 75 Shares of 3M Co (MMM)

Wells Trecaso Financial Group LLC decreased its holdings in 3M Co (NYSE:MMM) by 2.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,635 shares of the conglomerate’s stock after selling 75 shares during the quarter. Wells Trecaso Financial Group LLC’s holdings in 3M were worth $755,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lederer & Associates Investment Counsel CA increased its stake in shares of 3M by 2.1% during the 1st quarter. Lederer & Associates Investment Counsel CA now owns 2,410 shares of the conglomerate’s stock worth $501,000 after purchasing an additional 50 shares during the last quarter. Shine Investment Advisory Services Inc. increased its stake in shares of 3M by 35.2% during the 1st quarter. Shine Investment Advisory Services Inc. now owns 192 shares of the conglomerate’s stock worth $40,000 after purchasing an additional 50 shares during the last quarter. Nwam LLC increased its stake in shares of 3M by 1.0% during the 1st quarter. Nwam LLC now owns 5,853 shares of the conglomerate’s stock worth $1,216,000 after purchasing an additional 57 shares during the last quarter. LVM Capital Management Ltd. MI increased its stake in shares of 3M by 0.4% during the 1st quarter. LVM Capital Management Ltd. MI now owns 14,602 shares of the conglomerate’s stock worth $3,034,000 after purchasing an additional 59 shares during the last quarter. Finally, Sawyer & Company Inc increased its stake in shares of 3M by 1.6% during the 4th quarter. Sawyer & Company Inc now owns 3,790 shares of the conglomerate’s stock worth $722,000 after purchasing an additional 60 shares during the last quarter. 66.14% of the stock is currently owned by institutional investors and hedge funds.

MMM has been the subject of several research analyst reports. restated a “sell” rating on shares of 3M in a research note on Tuesday, February 12th. Morgan Stanley set a $184.00 price objective on shares of 3M and gave the company a “hold” rating in a research note on Friday, April 26th. JPMorgan Chase & Co. reduced their price objective on shares of 3M from $158.00 to $154.00 and set an “underweight” rating for the company in a research note on Friday, March 29th. Barclays reduced their price objective on shares of 3M from $189.00 to $188.00 and set an “underweight” rating for the company in a research note on Wednesday, April 3rd. Finally, Citigroup set a $221.00 price objective on shares of 3M and gave the company a “buy” rating in a research note on Friday, April 26th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $195.83.

3M stock traded up $0.22 during mid-day trading on Friday, reaching $166.09. The company’s stock had a trading volume of 2,366,879 shares, compared to its average volume of 4,944,481. 3M Co has a 12-month low of $165.61 and a 12-month high of $219.75. The firm has a market capitalization of $95.74 billion, a price-to-earnings ratio of 15.88, a P/E/G ratio of 1.75 and a beta of 0.99. The company has a current ratio of 2.02, a quick ratio of 1.38 and a debt-to-equity ratio of 1.60.

3M (NYSE:MMM) last released its quarterly earnings results on Thursday, April 25th. The conglomerate reported $2.23 EPS for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.27). The firm had revenue of $7.86 billion for the quarter, compared to analysts’ expectations of $8.02 billion. 3M had a net margin of 17.43% and a return on equity of 57.42%. The firm’s revenue for the quarter was down 5.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.50 earnings per share. On average, equities research analysts forecast that 3M Co will post 9.39 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 24th will be given a dividend of $1.44 per share. The ex-dividend date is Thursday, May 23rd. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.47%. 3M’s dividend payout ratio (DPR) is currently 55.07%.

In other news, Director David B. Dillon purchased 1,200 shares of 3M stock in a transaction dated Friday, May 17th. The stock was purchased at an average cost of $169.50 per share, for a total transaction of $203,400.00. Following the transaction, the director now directly owns 1,200 shares of the company’s stock, valued at $203,400. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Joaquin Delgado sold 5,400 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $169.68, for a total transaction of $916,272.00. Following the transaction, the insider now owns 28,092 shares of the company’s stock, valued at $4,766,650.56. The disclosure for this sale can be found here. Insiders have bought a total of 3,200 shares of company stock valued at $559,260 over the last 90 days. Company insiders own 0.83% of the company’s stock.

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About 3M

3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, abrasion-resistant films, and paint finishing and detailing products.

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

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