Waldron Private Wealth LLC Has $691,000 Holdings in 3M (NYSE:MMM)

Waldron Private Wealth LLC lifted its holdings in 3M (NYSE:MMM) by 3.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,054 shares of the conglomerate’s stock after purchasing an additional 172 shares during the quarter. Waldron Private Wealth LLC’s holdings in 3M were worth $691,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Global Assets Advisory LLC bought a new position in 3M during the 1st quarter worth $1,480,000. G&S Capital LLC boosted its holdings in 3M by 6.3% in the 1st quarter. G&S Capital LLC now owns 10,499 shares of the conglomerate’s stock valued at $1,114,000 after purchasing an additional 625 shares during the period. Wealthcare Advisory Partners LLC increased its holdings in shares of 3M by 20.7% during the first quarter. Wealthcare Advisory Partners LLC now owns 15,988 shares of the conglomerate’s stock worth $1,696,000 after purchasing an additional 2,741 shares during the period. Cardinal Capital Management boosted its stake in shares of 3M by 16.8% in the first quarter. Cardinal Capital Management now owns 47,749 shares of the conglomerate’s stock valued at $5,065,000 after buying an additional 6,867 shares during the period. Finally, Buckley Wealth Management LLC grew its position in 3M by 36.7% during the first quarter. Buckley Wealth Management LLC now owns 29,889 shares of the conglomerate’s stock worth $3,170,000 after buying an additional 8,020 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Michael F. Roman sold 5,675 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total transaction of $700,635.50. Following the completion of the sale, the chairman now directly owns 174,036 shares in the company, valued at $21,486,484.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other 3M news, Chairman Michael F. Roman sold 5,675 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total transaction of $700,635.50. Following the sale, the chairman now owns 174,036 shares of the company’s stock, valued at approximately $21,486,484.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Theresa E. Reinseth sold 2,100 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total value of $260,652.00. Following the completion of the transaction, the chief financial officer now directly owns 4,364 shares in the company, valued at $541,659.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

3M Stock Down 2.3 %

Shares of NYSE MMM opened at $131.73 on Wednesday. 3M has a 1 year low of $71.12 and a 1 year high of $141.34. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.36 and a quick ratio of 1.08. The firm has a market cap of $72.89 billion, a PE ratio of -10.36, a price-to-earnings-growth ratio of 2.49 and a beta of 0.95. The company has a 50 day simple moving average of $133.03 and a 200 day simple moving average of $113.46.

3M (NYSE:MMM) last posted its quarterly earnings data on Friday, July 26th. The conglomerate reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.25. 3M had a return on equity of 112.92% and a net margin of 3.08%. The business had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $5.85 billion. During the same period in the prior year, the business posted $2.17 earnings per share. On average, research analysts forecast that 3M will post 7.24 EPS for the current year.

3M Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 26th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date was Monday, August 26th. 3M’s dividend payout ratio is presently -22.01%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MMM. Mizuho upped their target price on 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft raised shares of 3M from a “hold” rating to a “buy” rating and upped their price objective for the stock from $110.00 to $150.00 in a research report on Monday, July 29th. Bank of America boosted their target price on shares of 3M from $120.00 to $143.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Royal Bank of Canada increased their price target on shares of 3M from $93.00 to $95.00 and gave the stock an “underperform” rating in a research report on Monday, July 29th. Finally, StockNews.com downgraded shares of 3M from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $133.87.

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.