Glenview Trust Co increased its position in 3M Co (NYSE:MMM) by 0.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,020 shares of the conglomerate’s stock after acquiring an additional 200 shares during the quarter. Glenview Trust Co’s holdings in 3M were worth $7,060,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. 1 North Wealth Services LLC bought a new position in shares of 3M in the third quarter worth about $26,000. Braun Bostich & Associates Inc. purchased a new position in 3M in the 4th quarter worth approximately $30,000. Bridger Capital Management LLC purchased a new position in 3M in the 3rd quarter worth approximately $33,000. Kessler Investment Group LLC bought a new position in 3M in the 4th quarter worth approximately $35,000. Finally, IndexIQ Advisors LLC bought a new position in 3M in the 4th quarter worth approximately $35,000. 66.52% of the stock is owned by institutional investors.

In related news, CEO Michael F. Roman sold 8,906 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $162.00, for a total value of $1,442,772.00. Following the completion of the sale, the chief executive officer now directly owns 48,152 shares in the company, valued at $7,800,624. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Julie L. Bushman sold 6,879 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $165.09, for a total value of $1,135,654.11. 0.83% of the stock is owned by company insiders.

MMM traded up $0.37 during trading hours on Friday, hitting $160.13. The company’s stock had a trading volume of 276,473 shares, compared to its average volume of 3,309,129. The business’s 50-day moving average price is $173.09 and its 200-day moving average price is $167.86. 3M Co has a 12 month low of $150.58 and a 12 month high of $219.75. The stock has a market cap of $92.09 billion, a price-to-earnings ratio of 20.50, a P/E/G ratio of 1.77 and a beta of 1.13. The company has a current ratio of 1.41, a quick ratio of 0.96 and a debt-to-equity ratio of 1.79.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, January 28th. The conglomerate reported $1.95 EPS for the quarter, missing the Zacks’ consensus estimate of $2.10 by ($0.15). The business had revenue of $8.11 billion during the quarter, compared to the consensus estimate of $8.12 billion. 3M had a net margin of 14.22% and a return on equity of 51.39%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.31 EPS. On average, analysts forecast that 3M Co will post 9.51 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Friday, February 14th will be paid a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 3.67%. This is a positive change from 3M’s previous quarterly dividend of $1.44. The ex-dividend date of this dividend is Thursday, February 13th. 3M’s dividend payout ratio (DPR) is presently 63.30%.

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of 3M from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $143.00 to $150.00 in a research report on Monday, December 23rd. Zacks Investment Research raised shares of 3M from a “sell” rating to a “hold” rating and set a $179.00 target price for the company in a research note on Tuesday, December 10th. Royal Bank of Canada reduced their price target on shares of 3M from $165.00 to $165.00 and set an “equal weight” rating on the stock in a report on Friday, October 25th. Citigroup decreased their price target on shares of 3M from $180.00 to $176.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. Finally, Wolfe Research upgraded shares of 3M from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 9th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $173.92.

3M Company Profile

3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, 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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