3M Company (MMM) Shares Sold by Wagner Bowman Management Corp

Wagner Bowman Management Corp trimmed its holdings in shares of 3M Company (NYSE:MMM) by 3.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,547 shares of the conglomerate’s stock after selling 517 shares during the period. 3M makes up approximately 1.0% of Wagner Bowman Management Corp’s investment portfolio, making the stock its 23rd largest holding. Wagner Bowman Management Corp’s holdings in 3M were worth $3,473,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the company. Steward Partners Investment Advisory LLC acquired a new position in 3M during the third quarter worth about $3,905,000. Crestwood Advisors Group LLC grew its holdings in 3M by 0.8% during the third quarter. Crestwood Advisors Group LLC now owns 74,398 shares of the conglomerate’s stock worth $15,616,000 after acquiring an additional 583 shares during the period. Garde Capital Inc. acquired a new position in 3M during the third quarter worth about $957,000. Archford Capital Strategies LLC grew its holdings in 3M by 125.1% during the third quarter. Archford Capital Strategies LLC now owns 3,835 shares of the conglomerate’s stock worth $805,000 after acquiring an additional 2,131 shares during the period. Finally, Fieldpoint Private Securities LLC acquired a new position in 3M during the third quarter worth about $1,030,000. 66.33% of the stock is currently owned by institutional investors.

In other 3M news, insider Jon T. Lindekugel sold 400 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $230.06, for a total transaction of $92,024.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Frank R. Jr. Little sold 1,500 shares of the firm’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $234.47, for a total value of $351,705.00. The disclosure for this sale can be found here. Insiders have sold a total of 22,804 shares of company stock valued at $5,303,706 over the last 90 days. Corporate insiders own 0.58% of the company’s stock.

MMM has been the topic of a number of research analyst reports. Zacks Investment Research lowered 3M from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Bank of America reissued a “buy” rating and issued a $227.00 price target on shares of 3M in a research note on Thursday, September 14th. Credit Suisse Group reissued an “outperform” rating and issued a $237.00 price target (up previously from $229.00) on shares of 3M in a research note on Wednesday, October 11th. Citigroup lifted their price target on 3M from $250.00 to $262.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Finally, ValuEngine cut 3M from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $231.16.

Shares of 3M Company (NYSE MMM) traded down $1.03 during midday trading on Friday, reaching $238.08. The company’s stock had a trading volume of 1,984,700 shares, compared to its average volume of 1,846,779. 3M Company has a 12-month low of $173.55 and a 12-month high of $244.23. The firm has a market cap of $142,415.86, a price-to-earnings ratio of 26.72, a PEG ratio of 2.59 and a beta of 1.10. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.07 and a quick ratio of 1.47.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $2.33 EPS for the quarter, topping the Zacks’ consensus estimate of $2.21 by $0.12. 3M had a return on equity of 48.55% and a net margin of 17.71%. The firm had revenue of $8.17 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same period last year, the company posted $2.15 EPS. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. equities research analysts forecast that 3M Company will post 9.08 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 12th. Shareholders of record on Friday, November 24th were given a dividend of $0.0118 per share. The ex-dividend date was Wednesday, November 22nd. This represents a $0.05 dividend on an annualized basis and a yield of 0.02%. 3M’s payout ratio is presently 52.51%.

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3M Company Profile

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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