Northwest Quadrant Wealth Management LLC Grows Stock Position in 3M Co (NYSE:MMM)

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Northwest Quadrant Wealth Management LLC boosted its stake in 3M Co (NYSE:MMM) by 10.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,715 shares of the conglomerate’s stock after acquiring an additional 166 shares during the quarter. Northwest Quadrant Wealth Management LLC’s holdings in 3M were worth $267,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Stephenson National Bank & Trust acquired a new position in 3M in the fourth quarter valued at about $326,000. Adams Chetwood Wealth Management LLC bought a new stake in shares of 3M in the fourth quarter valued at about $302,000. Alliancebernstein L.P. lifted its holdings in shares of 3M by 58.0% in the fourth quarter. Alliancebernstein L.P. now owns 2,663,207 shares of the conglomerate’s stock valued at $469,843,000 after purchasing an additional 977,188 shares in the last quarter. Guardian Investment Management lifted its holdings in shares of 3M by 20.0% in the first quarter. Guardian Investment Management now owns 17,377 shares of the conglomerate’s stock valued at $2,372,000 after purchasing an additional 2,900 shares in the last quarter. Finally, B. Riley Wealth Management Inc. lifted its holdings in shares of 3M by 181.5% in the fourth quarter. B. Riley Wealth Management Inc. now owns 10,110 shares of the conglomerate’s stock valued at $1,783,000 after purchasing an additional 6,518 shares in the last quarter. 65.83% of the stock is currently owned by institutional investors.

Shares of 3M stock traded down $3.01 on Thursday, hitting $151.57. The stock had a trading volume of 42,482 shares, compared to its average volume of 2,629,420. 3M Co has a twelve month low of $114.04 and a twelve month high of $187.72. The business’s 50 day moving average is $156.34 and its two-hundred day moving average is $155.89. The company has a quick ratio of 1.19, a current ratio of 1.65 and a debt-to-equity ratio of 1.94. The stock has a market cap of $89.05 billion, a price-to-earnings ratio of 18.14, a price-to-earnings-growth ratio of 2.06 and a beta of 0.99.

3M (NYSE:MMM) last posted its earnings results on Tuesday, April 28th. The conglomerate reported $2.16 EPS for the quarter, beating the consensus estimate of $2.03 by $0.13. 3M had a return on equity of 50.24% and a net margin of 15.37%. The company had revenue of $8.08 billion for the quarter, compared to the consensus estimate of $7.86 billion. During the same quarter in the prior year, the business earned $2.23 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities analysts predict that 3M Co will post 7.91 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 22nd were given a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 3.88%. The ex-dividend date of this dividend was Thursday, May 21st. 3M’s payout ratio is 64.62%.

In related news, CEO Michael F. Roman sold 7,894 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $148.70, for a total transaction of $1,173,837.80. Following the sale, the chief executive officer now owns 57,868 shares of the company’s stock, valued at $8,604,971.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Ty R. Silberhorn sold 14,623 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $146.46, for a total value of $2,141,684.58. Following the sale, the senior vice president now directly owns 16,571 shares in the company, valued at approximately $2,426,988.66. The disclosure for this sale can be found here. Insiders sold 40,184 shares of company stock worth $5,930,874 in the last ninety days. 0.42% of the stock is owned by company insiders.

A number of analysts have recently commented on the company. Gordon Haskett lowered 3M from a “hold” rating to an “underperform” rating in a report on Monday, March 30th. Deutsche Bank upped their target price on 3M from $158.00 to $163.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. Royal Bank of Canada upped their target price on 3M from $143.00 to $148.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 29th. Credit Suisse Group upped their target price on 3M from $165.00 to $180.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Finally, Morgan Stanley upped their price objective on 3M from $131.00 to $160.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $162.00.

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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