Mycio Wealth Partners LLC Sells 668 Shares of 3M Co (MMM)

Mycio Wealth Partners LLC lowered its holdings in 3M Co (NYSE:MMM) by 11.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,212 shares of the conglomerate’s stock after selling 668 shares during the period. Mycio Wealth Partners LLC’s holdings in 3M were worth $1,227,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in MMM. APG Asset Management N.V. increased its position in 3M by 128.1% in the 4th quarter. APG Asset Management N.V. now owns 1,427,350 shares of the conglomerate’s stock valued at $279,776,000 after acquiring an additional 801,639 shares during the period. Bank of Montreal Can boosted its stake in 3M by 38.9% during the 4th quarter. Bank of Montreal Can now owns 930,370 shares of the conglomerate’s stock valued at $218,981,000 after purchasing an additional 260,349 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in 3M by 4.7% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 3,171,136 shares of the conglomerate’s stock valued at $746,391,000 after purchasing an additional 142,799 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in 3M during the 3rd quarter valued at $28,564,000. Finally, Robeco Institutional Asset Management B.V. boosted its stake in 3M by 14.8% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 772,419 shares of the conglomerate’s stock valued at $181,802,000 after purchasing an additional 99,510 shares in the last quarter. Institutional investors and hedge funds own 66.09% of the company’s stock.

In other 3M news, VP Ippocratis Vrohidis sold 225 shares of 3M stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $249.68, for a total transaction of $56,178.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michael F. Roman sold 4,146 shares of 3M stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $246.65, for a total value of $1,022,610.90. Following the sale, the executive vice president now directly owns 16,208 shares in the company, valued at $3,997,703.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,673 shares of company stock worth $12,420,577. 0.58% of the stock is owned by company insiders.

3M Co (NYSE:MMM) traded up $0.08 during midday trading on Wednesday, reaching $231.44. The company’s stock had a trading volume of 1,235,070 shares, compared to its average volume of 2,751,540. The company has a market capitalization of $137,880.00, a price-to-earnings ratio of 29.19, a P/E/G ratio of 2.13 and a beta of 1.08. 3M Co has a one year low of $180.15 and a one year high of $259.77. The company has a current ratio of 1.86, a quick ratio of 1.33 and a debt-to-equity ratio of 1.04.

3M (NYSE:MMM) last issued its quarterly earnings results on Thursday, January 25th. The conglomerate reported $2.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.03 by $0.07. The company had revenue of $7.99 billion for the quarter, compared to the consensus estimate of $7.85 billion. 3M had a return on equity of 48.34% and a net margin of 15.35%. The firm’s revenue was up 9.0% compared to the same quarter last year. During the same period last year, the business posted $1.88 earnings per share. analysts forecast that 3M Co will post 10.6 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Friday, February 16th will be given a $1.36 dividend. This is an increase from 3M’s previous quarterly dividend of $0.01. This represents a $5.44 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Thursday, February 15th. 3M’s dividend payout ratio (DPR) is currently 59.27%.

A number of equities analysts have issued reports on MMM shares. Goldman Sachs Group raised 3M from a “sell” rating to a “neutral” rating and increased their price target for the company from $194.00 to $229.00 in a research note on Wednesday, October 25th. Stifel Nicolaus raised their price objective on 3M from $220.00 to $244.00 and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Royal Bank of Canada raised their price objective on 3M from $205.00 to $209.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 25th. Argus raised their target price on 3M from $220.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. They noted that the move was a valuation call. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $260.00 target price (up previously from $238.00) on shares of 3M in a research report on Wednesday, October 25th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $252.12.

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3M 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)

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