Genesee Valley Trust Co. Has $853,000 Position in 3M Co (MMM)

Genesee Valley Trust Co. decreased its stake in shares of 3M Co (NYSE:MMM) by 27.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,624 shares of the conglomerate’s stock after selling 1,395 shares during the quarter. Genesee Valley Trust Co.’s holdings in 3M were worth $853,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in MMM. Alpha Windward LLC increased its stake in 3M by 16.5% during the fourth quarter. Alpha Windward LLC now owns 1,441 shares of the conglomerate’s stock worth $339,000 after acquiring an additional 204 shares during the last quarter. Canal Capital Management LLC increased its stake in 3M by 3.2% during the fourth quarter. Canal Capital Management LLC now owns 7,101 shares of the conglomerate’s stock worth $1,671,000 after acquiring an additional 221 shares during the last quarter. ARGI Investment Services LLC increased its stake in 3M by 6.8% during the third quarter. ARGI Investment Services LLC now owns 3,579 shares of the conglomerate’s stock worth $736,000 after acquiring an additional 227 shares during the last quarter. Cadence Bank NA increased its stake in 3M by 1.6% during the fourth quarter. Cadence Bank NA now owns 15,368 shares of the conglomerate’s stock worth $3,617,000 after acquiring an additional 237 shares during the last quarter. Finally, Fort Pitt Capital Group LLC increased its stake in 3M by 3.1% during the fourth quarter. Fort Pitt Capital Group LLC now owns 8,232 shares of the conglomerate’s stock worth $1,937,000 after acquiring an additional 251 shares during the last quarter. Hedge funds and other institutional investors own 66.17% of the company’s stock.

Several research firms have issued reports on MMM. Barclays began coverage on 3M in a research note on Thursday, February 15th. They set an “underweight” rating and a $235.00 target price for the company. Deutsche Bank raised 3M from a “hold” rating to a “buy” rating and raised their target price for the stock from $240.00 to $275.00 in a research note on Tuesday, February 13th. Vetr raised 3M from a “buy” rating to a “strong-buy” rating and set a $254.92 target price for the company in a research note on Monday, February 12th. Zacks Investment Research raised 3M from a “hold” rating to a “buy” rating and set a $290.00 target price for the company in a research note on Tuesday, January 30th. Finally, Royal Bank of Canada reissued a “hold” rating and set a $254.00 target price on shares of 3M in a research note on Thursday, January 25th. Four analysts have rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $254.25.

In related news, Chairman Inge G. Thulin sold 35,236 shares of 3M stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $251.14, for a total value of $8,849,169.04. Following the completion of the transaction, the chairman now directly owns 253,873 shares in the company, valued at $63,757,665.22. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Michael F. Roman sold 4,146 shares of 3M stock in a transaction 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 completion of the transaction, the executive vice president now owns 16,208 shares of the company’s stock, valued at $3,997,703.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,673 shares of company stock valued at $12,420,577. 0.58% of the stock is currently owned by company insiders.

Shares of 3M Co (MMM) opened at $236.00 on Friday. 3M Co has a one year low of $185.71 and a one 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 firm has a market capitalization of $140,540.00, a price-to-earnings ratio of 25.74, a PEG ratio of 2.18 and a beta of 1.08.

3M (NYSE:MMM) last issued its quarterly earnings data on Thursday, January 25th. The conglomerate reported $2.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.03 by $0.07. 3M had a return on equity of 48.34% and a net margin of 15.35%. The business had revenue of $7.99 billion during the quarter, compared to analysts’ expectations of $7.85 billion. During the same period in the previous year, the firm posted $1.88 earnings per share. The company’s revenue was up 9.0% on a year-over-year basis. sell-side analysts predict that 3M Co will post 10.59 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Friday, February 16th will be issued 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 dividend on an annualized basis and a yield of 2.31%. 3M’s dividend payout ratio (DPR) is 59.32%.

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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.

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

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