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%.

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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.

About 3M

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.

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

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