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

Wagner Bowman Management Corp reduced its position in 3M Co (NYSE:MMM) by 3.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,547 shares of the conglomerate’s stock after selling 517 shares during the quarter. 3M comprises about 1.0% of Wagner Bowman Management Corp’s portfolio, making the stock its 23rd largest position. Wagner Bowman Management Corp’s holdings in 3M were worth $3,473,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Advisor Partners LLC lifted its position in shares of 3M by 4.6% in the 3rd quarter. Advisor Partners LLC now owns 17,127 shares of the conglomerate’s stock worth $3,595,000 after purchasing an additional 747 shares during the period. Ameriprise Financial Inc. lifted its position in shares of 3M by 0.3% in the 1st quarter. Ameriprise Financial Inc. now owns 3,275,913 shares of the conglomerate’s stock worth $626,792,000 after purchasing an additional 8,239 shares during the period. C.V. Starr & Co. Inc. Trust lifted its position in shares of 3M by 20.0% during the 1st quarter. C.V. Starr & Co. Inc. Trust now owns 60,000 shares of the conglomerate’s stock valued at $11,480,000 after acquiring an additional 10,000 shares during the period. Twin Capital Management Inc. acquired a new position in shares of 3M during the 2nd quarter valued at $6,178,000. Finally, Aperio Group LLC lifted its position in shares of 3M by 6.8% during the 3rd quarter. Aperio Group LLC now owns 559,122 shares of the conglomerate’s stock valued at $117,360,000 after acquiring an additional 35,815 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have weighed in on MMM. Zacks Investment Research downgraded shares of 3M from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Bank of America reiterated a “buy” rating and issued a $227.00 target price on shares of 3M in a research note on Thursday, September 14th. Argus reiterated a “buy” rating on shares of 3M in a research note on Friday, December 22nd. Credit Suisse Group restated an “outperform” rating and set a $237.00 price target (up previously from $229.00) on shares of 3M in a research report on Wednesday, October 11th. Finally, Citigroup increased their price target on shares of 3M from $250.00 to $262.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $231.16.

In other 3M news, CAO Ippocratis Vrohidis sold 1,725 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $230.34, for a total transaction of $397,336.50. Following the completion of the transaction, the chief accounting officer now owns 898 shares of the company’s stock, valued at $206,845.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jon T. Lindekugel sold 400 shares of 3M stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $230.06, for a total value of $92,024.00. The disclosure for this sale can be found here. Insiders have sold 22,804 shares of company stock valued at $5,303,706 in the last three months. Insiders own 0.58% of the company’s stock.

Shares of 3M Co (NYSE MMM) traded down $0.35 during midday trading on Friday, reaching $235.37. 1,343,854 shares of the company’s stock were exchanged, compared to its average volume of 1,872,805. 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 Co has a twelve month low of $173.55 and a twelve month high of $244.23. The company has a market capitalization of $140,396.75, a PE ratio of 26.30, a P/E/G ratio of 2.55 and a beta of 1.10.

3M (NYSE:MMM) last issued its earnings results on Tuesday, October 24th. The conglomerate reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.12. The firm had revenue of $8.17 billion for the quarter, compared to analysts’ expectations of $7.93 billion. 3M had a net margin of 17.71% and a return on equity of 48.55%. The business’s revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the business earned $2.15 earnings per share. sell-side analysts forecast that 3M Co will post 9.08 earnings per share for the current year.

The company 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. This represents a $0.05 annualized dividend and a yield of 0.02%. The ex-dividend date of this dividend was Wednesday, November 22nd. 3M’s dividend payout ratio is currently 52.51%.

ILLEGAL ACTIVITY NOTICE: “3M Co (MMM) Shares Sold by Wagner Bowman Management Corp” was posted by Week Herald and is owned by of Week Herald. If you are reading this news story on another domain, it was stolen and republished in violation of U.S. & international trademark & copyright law. The original version of this news story can be read at https://weekherald.com/2017/12/30/3m-company-mmm-shares-sold-by-wagner-bowman-management-corp.html.

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.

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

Receive News & Ratings for 3M Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 3M and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply