Charles Schwab Trust Co Cuts Stake in 3M (NYSE:MMM)

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

Several other large investors also recently modified their holdings of MMM. DB Fitzpatrick & Co Inc bought a new stake in 3M in the 4th quarter valued at about $29,000. Ritter Daniher Financial Advisory LLC raised its stake in 3M by 98.9% in the 4th quarter. Ritter Daniher Financial Advisory LLC now owns 179 shares of the conglomerate’s stock valued at $32,000 after acquiring an additional 89 shares during the period. Atticus Wealth Management LLC bought a new stake in 3M in the 4th quarter valued at about $36,000. US Asset Management LLC bought a new stake in 3M in the 1st quarter valued at about $34,000. Finally, Dark Forest Capital Management LP bought a new stake in 3M in the 3rd quarter valued at about $41,000. 67.22% of the stock is currently owned by institutional investors.

A number of brokerages recently issued reports on MMM. Barclays lowered their price objective on 3M from $155.00 to $146.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 27th. StockNews.com started coverage on 3M in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. UBS Group decreased their price target on 3M from $168.00 to $118.00 and set a “sell” rating on the stock in a research report on Friday, March 11th. Deutsche Bank Aktiengesellschaft decreased their price target on 3M from $167.00 to $164.00 and set a “hold” rating on the stock in a research report on Wednesday, April 27th. Finally, Morgan Stanley decreased their price target on 3M from $150.00 to $145.00 and set an “underweight” rating on the stock in a research report on Thursday, April 7th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $164.00.

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

Shares of MMM stock traded down $1.08 during trading on Thursday, hitting $129.32. The company had a trading volume of 24,920 shares, compared to its average volume of 2,697,940. 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 stock’s 50-day moving average is $145.13 and its two-hundred day moving average is $155.93. The stock has a market capitalization 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. 3M has a 52 week low of $128.19 and a 52 week high of $203.21.

3M (NYSE:MMMGet Rating) last posted its quarterly earnings data on Tuesday, April 26th. The conglomerate reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.32. The company had revenue of $8.80 billion for the quarter, compared to analysts’ expectations of $8.75 billion. 3M had a net margin of 15.84% and a return on equity of 39.35%. 3M’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.77 earnings per share. On average, research analysts predict that 3M will post 10.84 EPS for the current fiscal year.

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

3M Company Profile (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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