3M Co (MMM) Stake Decreased by Valmark Advisers Inc.

Valmark Advisers Inc. lessened its holdings in shares of 3M Co (NYSE:MMM) by 4.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,587 shares of the conglomerate’s stock after selling 69 shares during the period. Valmark Advisers Inc.’s holdings in 3M were worth $302,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Penserra Capital Management LLC bought a new stake in 3M during the fourth quarter worth approximately $35,000. Intercontinental Wealth Advisors LLC bought a new stake in 3M during the fourth quarter worth approximately $38,000. Essex Investment Management Co. LLC bought a new stake in 3M during the fourth quarter worth approximately $39,000. Westside Investment Management Inc. raised its holdings in 3M by 96.2% during the fourth quarter. Westside Investment Management Inc. now owns 255 shares of the conglomerate’s stock worth $49,000 after purchasing an additional 125 shares in the last quarter. Finally, Financial Gravity Companies Inc. bought a new stake in 3M during the fourth quarter worth approximately $72,000. 67.03% of the stock is currently owned by institutional investors.

Several brokerages recently commented on MMM. Barclays dropped their target price on 3M from $195.00 to $190.00 and set an “underweight” rating on the stock in a report on Monday, November 19th. restated a “sell” rating on shares of 3M in a research report on Tuesday, February 12th. Deutsche Bank lifted their price target on shares of 3M from $206.00 to $210.00 and gave the stock a “hold” rating in a research report on Friday, November 16th. Zacks Investment Research upgraded shares of 3M from a “sell” rating to a “hold” rating in a research report on Wednesday, December 5th. Finally, Credit Suisse Group restated an “outperform” rating and issued a $220.00 price target (down previously from $230.00) on shares of 3M in a research report on Thursday, January 3rd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $214.57.

In other 3M news, CFO Nicholas C. Gangestad sold 4,681 shares of 3M stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $201.34, for a total transaction of $942,472.54. Following the transaction, the chief financial officer now directly owns 33,691 shares in the company, valued at approximately $6,783,345.94. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Ippocratis Vrohidis sold 8,153 shares of 3M stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $199.51, for a total transaction of $1,626,605.03. Following the transaction, the vice president now owns 786 shares in the company, valued at $156,814.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,551 shares of company stock worth $14,335,468. Corporate insiders own 0.72% of the company’s stock.

3M stock traded down $0.50 during mid-day trading on Friday, hitting $206.88. The company’s stock had a trading volume of 22,753 shares, compared to its average volume of 2,232,373. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.29 and a current ratio of 1.89. The firm has a market cap of $119.94 billion, a price-to-earnings ratio of 19.78, a price-to-earnings-growth ratio of 1.90 and a beta of 1.06. 3M Co has a twelve month low of $176.87 and a twelve month high of $238.17.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, January 29th. The conglomerate reported $2.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.28 by $0.03. The firm had revenue of $7.95 billion for the quarter, compared to analyst estimates of $7.87 billion. 3M had a net margin of 16.33% and a return on equity of 57.70%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.10 earnings per share. As a group, equities analysts predict that 3M Co will post 10.67 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 15th were given a $1.44 dividend. This is a positive change from 3M’s previous quarterly dividend of $1.36. The ex-dividend date of this dividend was Thursday, February 14th. This represents a $5.76 annualized dividend and a yield of 2.78%. 3M’s payout ratio is 55.07%.

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3M Company Profile

3M Company operates as a diversified technology company worldwide. The company's Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; purification products; closure systems for personal hygiene products; acoustic systems products; automotive components; and abrasion-resistant films, and paint finishing and detailing products.

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

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