Linscomb & Williams Inc. Raises Stock Holdings in 3M (NYSE:MMM)

Linscomb & Williams Inc. boosted its stake in 3M (NYSE:MMM) by 3.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,184 shares of the conglomerate’s stock after buying an additional 116 shares during the period. Linscomb & Williams Inc.’s holdings in 3M were worth $614,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MMM. Mission Wealth Management LP increased its holdings in shares of 3M by 0.7% in the 1st quarter. Mission Wealth Management LP now owns 6,733 shares of the conglomerate’s stock valued at $1,297,000 after acquiring an additional 49 shares during the last quarter. St. Johns Investment Management Company LLC increased its holdings in shares of 3M by 0.8% in the 1st quarter. St. Johns Investment Management Company LLC now owns 6,689 shares of the conglomerate’s stock valued at $1,289,000 after acquiring an additional 51 shares during the last quarter. Cypress Wealth Services LLC increased its holdings in shares of 3M by 1.8% in the 1st quarter. Cypress Wealth Services LLC now owns 2,863 shares of the conglomerate’s stock valued at $552,000 after acquiring an additional 52 shares during the last quarter. Hubbell Strickland Wealth Management LLC increased its holdings in shares of 3M by 2.7% in the 1st quarter. Hubbell Strickland Wealth Management LLC now owns 1,985 shares of the conglomerate’s stock valued at $382,000 after acquiring an additional 53 shares during the last quarter. Finally, Vigilant Capital Management LLC increased its holdings in shares of 3M by 1.6% in the 1st quarter. Vigilant Capital Management LLC now owns 3,517 shares of the conglomerate’s stock valued at $678,000 after acquiring an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 66.42% of the company’s stock.

MMM has been the subject of a number of analyst reports. Credit Suisse Group reduced their price objective on 3M from $213.00 to $210.00 and set an “outperform” rating for the company in a research report on Wednesday, April 28th. Morgan Stanley boosted their price objective on 3M from $188.00 to $200.00 and gave the company an “equal weight” rating in a research report on Monday, April 12th. Deutsche Bank Aktiengesellschaft boosted their price objective on 3M from $192.00 to $199.00 and gave the company a “hold” rating in a research report on Wednesday, April 28th. Zacks Investment Research upgraded 3M from a “sell” rating to a “hold” rating and set a $206.00 price target for the company in a research report on Thursday, April 29th. Finally, Royal Bank of Canada boosted their price target on 3M from $198.00 to $200.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 28th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $193.45.

MMM opened at $203.13 on Friday. 3M has a one year low of $148.80 and a one year high of $208.95. The company has a quick ratio of 1.30, a current ratio of 1.83 and a debt-to-equity ratio of 1.22. The stock has a fifty day moving average price of $200.54. The company has a market cap of $117.75 billion, a P/E ratio of 20.73, a PEG ratio of 2.20 and a beta of 0.96.

3M (NYSE:MMM) last posted its quarterly earnings data on Monday, April 26th. The conglomerate reported $2.77 EPS for the quarter, topping the Zacks’ consensus estimate of $2.29 by $0.48. 3M had a return on equity of 44.00% and a net margin of 17.34%. The company had revenue of $8.85 billion for the quarter, compared to the consensus estimate of $8.43 billion. During the same quarter in the previous year, the business earned $2.16 EPS. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. Research analysts expect that 3M will post 9.73 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 12th. Stockholders of record on Friday, May 21st will be given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date is Thursday, May 20th. 3M’s dividend payout ratio (DPR) is presently 67.73%.

In other news, EVP Kristen M. Ludgate sold 933 shares of the business’s stock in a transaction on Wednesday, April 21st. The stock was sold at an average price of $200.00, for a total transaction of $186,600.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Ivan K. Fong sold 12,059 shares of the business’s stock in a transaction on Friday, April 30th. The stock was sold at an average price of $198.46, for a total value of $2,393,229.14. Following the sale, the vice president now directly owns 47,872 shares in the company, valued at $9,500,677.12. The disclosure for this sale can be found here. Insiders have sold 13,025 shares of company stock worth $2,586,414 over the last ninety days. 0.34% of the stock is owned by insiders.

3M Profile

3M Company develops, manufactures, and markets various products worldwide. It operates through four business segments: Safety and Industrial, Transportation and Electronics, Health Care, and Consumer. The Safety and Industrial segment offers personal safety products, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules to industrial, electrical, and safety markets.

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

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