Charles Schwab Trust Co Reduces Stock Holdings in 3M (NYSE:MMM)

Charles Schwab Trust Co decreased its holdings in 3M (NYSE:MMMGet Rating) by 6.4% in the first quarter, HoldingsChannel.com reports. The fund owned 11,328 shares of the conglomerate’s stock after selling 779 shares during the period. Charles Schwab Trust Co’s holdings in 3M were worth $1,687,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Gateway Investment Advisers LLC raised its holdings in 3M by 38.5% in the first quarter. Gateway Investment Advisers LLC now owns 355,859 shares of the conglomerate’s stock worth $52,980,000 after purchasing an additional 98,888 shares in the last quarter. Gilman Hill Asset Management LLC raised its holdings in 3M by 2,044.2% in the first quarter. Gilman Hill Asset Management LLC now owns 52,040 shares of the conglomerate’s stock worth $7,748,000 after purchasing an additional 49,613 shares in the last quarter. Monument Capital Management raised its holdings in 3M by 58.6% in the first quarter. Monument Capital Management now owns 14,375 shares of the conglomerate’s stock worth $2,140,000 after purchasing an additional 5,310 shares in the last quarter. Investors Research Corp raised its holdings in 3M by 6,211.1% in the first quarter. Investors Research Corp now owns 7,384 shares of the conglomerate’s stock worth $1,099,000 after purchasing an additional 7,267 shares in the last quarter. Finally, Triangle Securities Wealth Management increased its holdings in shares of 3M by 1.7% during the first quarter. Triangle Securities Wealth Management now owns 5,339 shares of the conglomerate’s stock valued at $795,000 after acquiring an additional 90 shares in the last quarter. Institutional investors and hedge funds own 67.22% of the company’s stock.

In other news, CEO Michael F. Roman sold 10,610 shares of 3M stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $146.21, for a total transaction of $1,551,288.10. Following the transaction, the chief executive officer now directly owns 90,361 shares of the company’s stock, valued at approximately $13,211,681.81. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mojdeh Poul sold 1,634 shares of 3M stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $151.68, for a total value of $247,845.12. Following the transaction, the insider now directly owns 7,637 shares in the company, valued at $1,158,380.16. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

NYSE:MMM traded down $1.08 on Thursday, hitting $129.32. The stock had a trading volume of 24,920 shares, compared to its average volume of 2,697,940. The stock has a market cap of $73.59 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 1.26 and a beta of 0.92. The company has a quick ratio of 1.00, a current ratio of 1.58 and a debt-to-equity ratio of 0.99. The business’s 50-day simple moving average is $145.13 and its two-hundred day simple moving average is $155.93. 3M has a 52-week low of $128.19 and a 52-week high of $203.21.

3M (NYSE:MMMGet Rating) last announced its earnings results on Tuesday, April 26th. The conglomerate reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.32. The business had revenue of $8.80 billion for the quarter, compared to analysts’ expectations of $8.75 billion. 3M had a return on equity of 39.35% and a net margin of 15.84%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same period last year, the firm posted $2.77 earnings per share. As a group, equities research analysts anticipate that 3M will post 10.84 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Sunday, June 12th. Shareholders of record on Friday, May 20th were given a $1.49 dividend. The ex-dividend date was Thursday, May 19th. This represents a $5.96 annualized dividend and a yield of 4.61%. 3M’s payout ratio is 62.02%.

Several equities analysts have recently weighed in on MMM shares. Deutsche Bank Aktiengesellschaft reduced their price target on 3M from $167.00 to $164.00 and set a “hold” rating for the company in a report on Wednesday, April 27th. Royal Bank of Canada raised their price target on 3M from $136.00 to $138.00 and gave the company an “underperform” rating in a report on Wednesday, April 27th. UBS Group reduced their price target on 3M from $168.00 to $118.00 and set a “sell” rating for the company in a report on Friday, March 11th. StockNews.com started coverage on 3M in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Barclays reduced their price objective on 3M from $155.00 to $146.00 and set an “underweight” rating for the company in a report on Wednesday, April 27th. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $164.00.

About 3M (Get Rating)

3M Company operates as a diversified technology company worldwide. It operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.

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

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