YorkBridge Wealth Partners LLC Decreases Position in 3M Company (MMM)
YorkBridge Wealth Partners LLC decreased its holdings in 3M Company (NYSE:MMM) by 0.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,155 shares of the conglomerate’s stock after selling 61 shares during the quarter. 3M comprises approximately 1.7% of YorkBridge Wealth Partners LLC’s portfolio, making the stock its 6th biggest position. YorkBridge Wealth Partners LLC’s holdings in 3M were worth $3,180,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in MMM. Proficio Capital Partners LLC lifted its position in shares of 3M by 156.0% in the 1st quarter. Proficio Capital Partners LLC now owns 663 shares of the conglomerate’s stock worth $131,000 after purchasing an additional 404 shares during the period. Jackson Grant Investment Advisers Inc. increased its position in shares of 3M by 0.6% during the first quarter. Jackson Grant Investment Advisers Inc. now owns 718 shares of the conglomerate’s stock valued at $137,000 after buying an additional 4 shares during the period. Harfst & Associates Inc. raised its stake in 3M by 17.0% in the second quarter. Harfst & Associates Inc. now owns 688 shares of the conglomerate’s stock worth $143,000 after buying an additional 100 shares in the last quarter. One Capital Management LLC bought a new position in 3M in the first quarter worth about $202,000. Finally, FDO Partners LLC bought a new position in 3M in the first quarter worth about $203,000. 66.20% of the stock is owned by institutional investors.
MMM has been the topic of a number of research analyst reports. Morgan Stanley upped their target price on 3M from $190.00 to $201.00 and gave the stock an “underweight” rating in a report on Monday. Jefferies Group LLC restated a “buy” rating and set a $234.00 price target on shares of 3M in a research report on Wednesday, August 16th. Zacks Investment Research cut 3M from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. Stifel Nicolaus reissued a “hold” rating and set a $210.00 price objective on shares of 3M in a research report on Friday, July 28th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $209.00 target price (down previously from $210.00) on shares of 3M in a report on Wednesday, July 26th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $208.27.
3M Company (NYSE MMM) traded up 0.209% during trading on Tuesday, reaching $213.205. 166,246 shares of the company traded hands. The company has a market capitalization of $127.23 billion, a P/E ratio of 24.319 and a beta of 1.09. The firm has a 50-day moving average price of $207.27 and a 200-day moving average price of $202.75. 3M Company has a 52 week low of $163.85 and a 52 week high of $214.65.
3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $2.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.59 by ($0.01). 3M had a net margin of 17.65% and a return on equity of 47.83%. The company had revenue of $7.81 billion for the quarter, compared to analysts’ expectations of $7.86 billion. During the same period in the previous year, the business earned $2.08 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. Analysts forecast that 3M Company will post $8.95 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Friday, August 25th were paid a dividend of $1.175 per share. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $4.70 annualized dividend and a yield of 2.21%. 3M’s dividend payout ratio (DPR) is currently 53.59%.
ILLEGAL ACTIVITY WARNING: This story was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this story on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark legislation. The original version of this story can be read at https://www.thecerbatgem.com/2017/10/03/yorkbridge-wealth-partners-llc-decreases-position-in-3m-company-mmm.html.
In other news, insider Frank R. Jr. Little sold 2,719 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $206.03, for a total transaction of $560,195.57. Following the transaction, the insider now owns 9,010 shares of the company’s stock, valued at approximately $1,856,330.30. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Eric D. Hammes sold 1,428 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $206.66, for a total transaction of $295,110.48. Following the transaction, the vice president now directly owns 3,066 shares in the company, valued at approximately $633,619.56. The disclosure for this sale can be found here. Insiders have sold 9,112 shares of company stock valued at $1,878,890 in the last three months. Insiders own 0.58% of the company’s stock.
3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.
Want to see what other hedge funds are holding MMM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for 3M Company (NYSE:MMM).
Receive News & Stock Ratings for 3M Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 3M Company and related stocks with our FREE daily email newsletter.