Wells Trecaso Financial Group LLC Trims Stock Position in 3M (NYSE:MMM)

Wells Trecaso Financial Group LLC trimmed its holdings in 3M (NYSE:MMM) by 5.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,491 shares of the conglomerate’s stock after selling 150 shares during the period. Wells Trecaso Financial Group LLC’s holdings in 3M were worth $322,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FSA Wealth Management LLC purchased a new stake in shares of 3M in the third quarter worth about $27,000. Daymark Wealth Partners LLC boosted its position 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 stake in shares of 3M by 118.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 121 shares during the period. ORG Partners LLC increased its holdings in shares of 3M by 44.1% during the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after purchasing an additional 98 shares in the last quarter. Finally, True Wealth Design LLC lifted its stake in shares of 3M by 2,466.7% in the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock valued at $42,000 after purchasing an additional 296 shares during the period. 65.25% of the stock is owned by institutional investors and hedge funds.

3M Stock Performance

MMM opened at $149.64 on Friday. The firm has a market capitalization of $81.49 billion, a PE ratio of 19.82, a PEG ratio of 2.46 and a beta of 0.95. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. 3M has a twelve month low of $75.40 and a twelve month high of $152.08. The firm’s 50-day moving average price is $132.09 and its 200 day moving average price is $128.67.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The business had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5,770,390 billion. During the same period in the prior year, the business earned $2.42 earnings per share. The business’s revenue was down 25.0% compared to the same quarter last year. As a group, sell-side analysts expect that 3M will post 7.66 EPS for the current fiscal year.

3M Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were issued 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 dividend yield of 1.87%. 3M’s dividend payout ratio is presently 37.09%.

Analyst Ratings Changes

Several research firms recently commented on MMM. Melius upgraded shares of 3M from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Weiss Ratings restated a “hold (c)” rating on shares of 3M in a research note on Saturday, January 18th. Citigroup increased their price target on 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research report on Wednesday. Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a research report on Tuesday, October 22nd. Finally, Bank of America increased their target price on 3M from $160.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.87.

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.