Bruderman Asset Management LLC Has $2.06 Million Position in 3M Co (MMM)

Bruderman Asset Management LLC trimmed its position in 3M Co (NYSE:MMM) by 2.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,730 shares of the conglomerate’s stock after selling 256 shares during the period. Bruderman Asset Management LLC’s holdings in 3M were worth $2,055,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Lenox Wealth Advisors Inc. grew its position in 3M by 16,300.0% in the 4th quarter. Lenox Wealth Advisors Inc. now owns 492 shares of the conglomerate’s stock valued at $116,000 after buying an additional 489 shares during the last quarter. Horan Capital Management purchased a new position in 3M in the 4th quarter valued at $123,000. Sawyer & Company Inc purchased a new position in 3M in the 4th quarter valued at $138,000. Field & Main Bank purchased a new position in 3M in the 4th quarter valued at $140,000. Finally, Hoertkorn Richard Charles purchased a new position in 3M in the 3rd quarter valued at $126,000. Hedge funds and other institutional investors own 66.17% of the company’s stock.

In related news, Chairman Inge G. Thulin sold 35,236 shares of the business’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $251.14, for a total value of $8,849,169.04. Following the sale, the chairman now directly owns 253,873 shares in the company, valued at approximately $63,757,665.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Nicholas C. Gangestad sold 1,681 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $249.76, for a total transaction of $419,846.56. Following the completion of the sale, the chief financial officer now owns 23,562 shares in the company, valued at $5,884,845.12. The disclosure for this sale can be found here. Insiders sold a total of 49,673 shares of company stock worth $12,420,577 over the last quarter. Insiders own 0.58% of the company’s stock.

Shares of 3M Co (NYSE:MMM) opened at $236.00 on Friday. 3M Co has a 1 year low of $185.71 and a 1 year high of $259.77. The company has a quick ratio of 1.33, a current ratio of 1.86 and a debt-to-equity ratio of 1.04. The company has a market cap of $140,540.00, a PE ratio of 25.74, a P/E/G ratio of 2.18 and a beta of 1.08.

3M (NYSE:MMM) last released its quarterly earnings data on Thursday, January 25th. The conglomerate reported $2.10 EPS for the quarter, topping the consensus estimate of $2.03 by $0.07. 3M had a net margin of 15.35% and a return on equity of 48.34%. The business had revenue of $7.99 billion for the quarter, compared to analyst estimates of $7.85 billion. During the same period in the previous year, the firm earned $1.88 EPS. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. analysts anticipate that 3M Co will post 10.59 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Friday, February 16th will be given a $1.36 dividend. The ex-dividend date is Thursday, February 15th. This is a positive change from 3M’s previous quarterly dividend of $0.01. This represents a $5.44 annualized dividend and a dividend yield of 2.31%. 3M’s payout ratio is currently 59.32%.

A number of research firms recently weighed in on MMM. Zacks Investment Research lowered shares of 3M from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Barclays initiated coverage on shares of 3M in a research report on Thursday, February 15th. They set an “underweight” rating and a $235.00 target price on the stock. Goldman Sachs Group restated a “sell” rating on shares of 3M in a research report on Thursday, October 26th. Citigroup boosted their target price on shares of 3M from $268.00 to $278.00 and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Finally, UBS Group initiated coverage on shares of 3M in a research report on Tuesday, January 23rd. They set a “neutral” rating and a $262.00 target price on the stock. Four research analysts have rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. 3M has a consensus rating of “Hold” and an average target price of $254.25.

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About 3M

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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