Mitchell Mcleod Pugh & Williams Inc. Sells 593 Shares of 3M (NYSE:MMM)

Mitchell Mcleod Pugh & Williams Inc. cut its holdings in 3M (NYSE:MMM) by 27.2% during the fourth quarter, Holdings Channel reports. The firm owned 1,590 shares of the conglomerate’s stock after selling 593 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in 3M were worth $205,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in MMM. FSA Wealth Management LLC purchased a new position in shares of 3M in the third quarter worth $27,000. Daymark Wealth Partners LLC lifted its stake in 3M by 8.6% in the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 17,211 shares in the last quarter. McClarren Financial Advisors Inc. grew its position in shares of 3M by 118.6% during the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 121 shares in the last quarter. ORG Partners LLC increased its holdings in shares of 3M by 44.1% in the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after purchasing an additional 98 shares during the last quarter. Finally, True Wealth Design LLC boosted its stake in 3M by 2,466.7% during the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock valued at $42,000 after buying an additional 296 shares during the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.

3M Stock Performance

MMM stock opened at $141.02 on Tuesday. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.43 and a quick ratio of 1.08. 3M has a 1-year low of $75.40 and a 1-year high of $141.66. The business has a 50-day moving average price of $131.24 and a 200 day moving average price of $127.93. The company has a market capitalization of $76.80 billion, a P/E ratio of 17.81, a PEG ratio of 2.01 and a beta of 0.95.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.05. The firm had revenue of $6.29 billion during the quarter, compared to analysts’ expectations of $6.06 billion. 3M had a net margin of 15.37% and a return on equity of 104.66%. The company’s revenue was down 24.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.68 EPS. As a group, equities research analysts forecast that 3M will post 7.27 EPS for the current fiscal year.

3M Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.80 annualized dividend and a yield of 1.99%. 3M’s dividend payout ratio (DPR) is presently 35.35%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MMM. Weiss Ratings reaffirmed a “hold (c)” rating on shares of 3M in a research note on Saturday. Mizuho increased their price objective on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Barclays reduced their target price on shares of 3M from $165.00 to $161.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Wells Fargo & Company increased their price target on shares of 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. decreased their price objective on 3M from $165.00 to $162.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $144.13.

3M Profile

3M Company provides diversified technology services in the United States and internationally. The company’s 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.