Robinson Value Management Ltd. cut its position in shares of 3M Company (NYSE:MMM) by 27.4% during the first quarter, Holdings Channel reports. The institutional investor owned 3,450 shares of the conglomerate’s stock after selling 1,302 shares during the period. Robinson Value Management Ltd.’s holdings in 3M Company were worth $660,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Alley Co LLC raised its position in 3M Company by 20.1% in the fourth quarter. Alley Co LLC now owns 10,776 shares of the conglomerate’s stock worth $1,924,000 after buying an additional 1,800 shares in the last quarter. Cobiz Wealth LLC raised its position in 3M Company by 2.0% in the fourth quarter. Cobiz Wealth LLC now owns 18,262 shares of the conglomerate’s stock worth $3,261,000 after buying an additional 352 shares in the last quarter. ZWJ Investment Counsel Inc. raised its position in 3M Company by 3.1% in the fourth quarter. ZWJ Investment Counsel Inc. now owns 26,046 shares of the conglomerate’s stock worth $4,651,000 after buying an additional 776 shares in the last quarter. Cadence Bank NA raised its position in 3M Company by 0.3% in the fourth quarter. Cadence Bank NA now owns 15,456 shares of the conglomerate’s stock worth $2,760,000 after buying an additional 42 shares in the last quarter. Finally, Connecticut Wealth Management LLC increased its stake in shares of 3M Company by 0.6% in the fourth quarter. Connecticut Wealth Management LLC now owns 2,433 shares of the conglomerate’s stock worth $433,000 after buying an additional 15 shares during the last quarter. Institutional investors own 65.74% of the company’s stock.

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

Shares of 3M Company (NYSE:MMM) opened at 213.36 on Wednesday. The firm has a 50-day moving average price of $202.29 and a 200-day moving average price of $188.66. 3M Company has a 52-week low of $163.85 and a 52-week high of $214.57. The stock has a market capitalization of $127.43 billion, a P/E ratio of 25.80 and a beta of 1.10.

3M Company (NYSE:MMM) last released its quarterly earnings results on Tuesday, April 25th. The conglomerate reported $2.16 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.09. The firm had revenue of $7.69 billion for the quarter, compared to analysts’ expectations of $7.48 billion. 3M Company had a return on equity of 44.95% and a net margin of 16.78%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.95 EPS. On average, analysts predict that 3M Company will post $8.95 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Friday, May 19th were issued a dividend of $1.175 per share. The ex-dividend date was Wednesday, May 17th. This represents a $4.70 annualized dividend and a dividend yield of 2.20%. 3M Company’s payout ratio is 56.83%.

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A number of analysts recently commented on the company. Barclays PLC reaffirmed an “overweight” rating and set a $201.00 price target (up from $200.00) on shares of 3M Company in a research report on Wednesday, April 19th. Vetr downgraded 3M Company from a “sell” rating to a “strong sell” rating and set a $163.50 price target for the company. in a research report on Wednesday, February 22nd. Zacks Investment Research raised 3M Company from a “hold” rating to a “buy” rating and set a $223.00 price target for the company in a research report on Friday, May 26th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $187.00 price target on shares of 3M Company in a research report on Sunday, March 12th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $234.00 price target on shares of 3M Company in a research report on Thursday, June 1st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $201.10.

In other news, VP Marlene Mary Mcgrath sold 14,766 shares of the stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $194.88, for a total transaction of $2,877,598.08. Following the transaction, the vice president now directly owns 24,480 shares of the company’s stock, valued at approximately $4,770,662.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jon T. Lindekugel sold 1,300 shares of the stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $197.22, for a total value of $256,386.00. Following the transaction, the insider now directly owns 2,238 shares in the company, valued at $441,378.36. The disclosure for this sale can be found here. Insiders have sold a total of 33,698 shares of company stock worth $6,593,443 over the last three months. Insiders own 0.58% of the company’s stock.

About 3M Company

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, electronics, 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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