Feltz Wealth PLAN Inc. cut its stake in shares of 3M Company (NYSE:MMM) by 35.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,859 shares of the company’s stock after selling 1,018 shares during the period. Feltz Wealth PLAN Inc.’s holdings in 3M Company were worth $319,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Concannon Wealth Management LLC raised its position in 3M Company by 45.6% in the third quarter. Concannon Wealth Management LLC now owns 655 shares of the company’s stock valued at $116,000 after buying an additional 205 shares in the last quarter. Jackson Grant Investment Advisers Inc. raised its position in 3M Company by 7.5% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 706 shares of the company’s stock valued at $124,000 after buying an additional 49 shares in the last quarter. TLP Group LLC acquired a new position in 3M Company during the third quarter valued at about $127,000. Balentine LLC raised its position in 3M Company by 41.1% in the second quarter. Balentine LLC now owns 762 shares of the company’s stock valued at $133,000 after buying an additional 222 shares in the last quarter. Finally, Westbourne Investment Advisors Inc. acquired a new position in 3M Company during the second quarter valued at about $149,000. 65.80% of the stock is owned by institutional investors.

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

3M Company (NYSE:MMM) opened at 183.41 on Friday. The company has a 50-day moving average price of $177.70 and a 200 day moving average price of $175.63. The stock has a market cap of $109.35 billion, a P/E ratio of 22.48 and a beta of 1.04. 3M Company has a 1-year low of $153.64 and a 1-year high of $183.46.

3M Company (NYSE:MMM) last released its earnings results on Tuesday, January 24th. The company reported $1.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.87 by $0.01. 3M Company had a net margin of 16.77% and a return on equity of 43.82%. The firm earned $7.33 billion during the quarter, compared to analyst estimates of $7.35 billion. During the same period last year, the business earned $1.80 earnings per share. The business’s revenue was up .4% on a year-over-year basis. Equities analysts expect that 3M Company will post $8.62 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, March 12th. Stockholders of record on Friday, February 17th will be issued a dividend of $1.175 per share. This represents a $4.70 annualized dividend and a dividend yield of 2.56%. This is a positive change from 3M Company’s previous quarterly dividend of $1.11. The ex-dividend date of this dividend is Wednesday, February 15th. 3M Company’s dividend payout ratio (DPR) is presently 54.41%.

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Several equities analysts have recently issued reports on the company. RBC Capital Markets raised 3M Company from an “underperform” rating to a “sector perform” rating and upped their target price for the company from $155.00 to $171.00 in a report on Wednesday, December 7th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $210.00 target price (up from $200.00) on shares of 3M Company in a report on Monday, November 28th. Vetr lowered 3M Company from a “hold” rating to a “sell” rating and set a $171.00 target price for the company. in a report on Thursday, December 22nd. Zacks Investment Research raised 3M Company from a “sell” rating to a “hold” rating in a report on Tuesday, November 29th. Finally, Stifel Nicolaus upped their target price on 3M Company from $175.00 to $186.00 and gave the company a “hold” rating in a report on Wednesday, December 14th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $180.17.

In other news, VP Eric D. Hammes sold 436 shares of 3M Company stock in a transaction that occurred on Wednesday, December 7th. The shares were sold at an average price of $174.00, for a total transaction of $75,864.00. Following the completion of the transaction, the vice president now directly owns 2,261 shares in the company, valued at $393,414. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Nicholas C. Gangestad sold 2,888 shares of 3M Company stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $181.31, for a total transaction of $523,623.28. Following the transaction, the chief financial officer now owns 20,071 shares of the company’s stock, valued at $3,639,073.01. The disclosure for this sale can be found here. Insiders have sold 71,257 shares of company stock valued at $12,669,229 over the last quarter. Company insiders own 0.58% of the company’s stock.

3M Company Company Profile

3M Company is a technology company. The Company operates through five segments. Its Industrial segment serves markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. Its Safety and Graphics segment serves markets for the safety, security and productivity of people, facilities and systems.

5 Day Chart for NYSE:MMM

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