3M Company $MMM Stock Holdings Decreased by SilverOak Wealth Management LLC

SilverOak Wealth Management LLC lowered its stake in shares of 3M Company (NYSE:MMM) by 5.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,982 shares of the conglomerate’s stock after selling 4,005 shares during the quarter. 3M comprises 1.4% of SilverOak Wealth Management LLC’s holdings, making the stock its 16th largest holding. SilverOak Wealth Management LLC’s holdings in 3M were worth $11,652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Trek Financial LLC boosted its holdings in shares of 3M by 11.3% in the 3rd quarter. Trek Financial LLC now owns 16,292 shares of the conglomerate’s stock valued at $2,674,000 after buying an additional 1,660 shares in the last quarter. Woodmont Investment Counsel LLC raised its stake in shares of 3M by 11.6% during the 3rd quarter. Woodmont Investment Counsel LLC now owns 3,890 shares of the conglomerate’s stock worth $639,000 after acquiring an additional 405 shares in the last quarter. Traynor Capital Management Inc. purchased a new stake in 3M during the third quarter valued at approximately $238,000. Greenleaf Trust lifted its position in 3M by 13.8% during the third quarter. Greenleaf Trust now owns 17,222 shares of the conglomerate’s stock valued at $2,827,000 after acquiring an additional 2,094 shares during the last quarter. Finally, Nippon Life Global Investors Americas Inc. acquired a new stake in 3M in the third quarter valued at approximately $56,678,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Trading Down 0.0%

Shares of 3M stock opened at $174.32 on Monday. The firm’s 50 day simple moving average is $168.45 and its two-hundred day simple moving average is $161.35. The firm has a market capitalization of $90.08 billion, a price-to-earnings ratio of 25.98, a PEG ratio of 2.27 and a beta of 1.01. 3M Company has a 12-month low of $139.34 and a 12-month high of $184.90. The company has a current ratio of 1.41, a quick ratio of 1.06 and a debt-to-equity ratio of 3.01.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, October 20th. The conglomerate reported $2.50 EPS for the quarter, topping the consensus estimate of $2.38 by $0.12. The business had revenue of $6.60 billion during the quarter, compared to the consensus estimate of $6.61 billion. 3M had a net margin of 14.01% and a return on equity of 123.11%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.19 earnings per share. Analysts predict that 3M Company will post 9.14 EPS for the current year.

3M Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Monday, August 24th were paid a $0.78 dividend. The ex-dividend date was Monday, August 24th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.8%. 3M’s dividend payout ratio is presently 46.50%.

Insider Buying and Selling

In other news, insider Karin Chavez sold 3,635 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $182.51, for a total transaction of $663,423.85. Following the sale, the insider directly owned 14,035 shares in the company, valued at $2,561,527.85. This trade represents a 20.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on MMM shares. Jefferies Financial Group reaffirmed a “hold” rating and issued a $186.00 price target on shares of 3M in a report on Wednesday, October 21st. HSBC raised 3M to a “strong-buy” rating in a research report on Thursday, October 22nd. Raymond James Financial restated a “market perform” rating on shares of 3M in a research note on Wednesday, October 21st. Citigroup upped their target price on 3M from $183.00 to $188.00 and gave the company a “neutral” rating in a research report on Wednesday, October 21st. Finally, UBS Group reiterated a “buy” rating on shares of 3M in a research note on Wednesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, 3M currently has a consensus rating of “Hold” and an average target price of $185.36.

3M Company Profile

3M is a diversified technology and manufacturing company headquartered in St. Paul, Minnesota. Founded in 1902 as Minnesota Mining and Manufacturing Company, it developed from a mining venture into a global enterprise known for applying materials science and engineering to a broad range of industrial, commercial and consumer applications.

The company develops and manufactures products including adhesives, abrasives, filtration systems, personal protective equipment, medical and dental supplies, electrical and electronic materials, automotive components, reflective materials and workplace safety solutions.