Hemenway Trust Co LLC decreased its holdings in 3M Co (NYSE:MMM) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,258 shares of the conglomerate’s stock after selling 2,349 shares during the quarter. 3M comprises 3.4% of Hemenway Trust Co LLC’s investment portfolio, making the stock its 3rd largest holding. Hemenway Trust Co LLC’s holdings in 3M were worth $17,714,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Lenox Wealth Advisors Inc. raised its position in 3M by 16,300.0% in the 4th quarter. Lenox Wealth Advisors Inc. now owns 492 shares of the conglomerate’s stock valued at $116,000 after purchasing an additional 489 shares during the last quarter. Horan Capital Management purchased a new stake in 3M in the 4th quarter valued at $123,000. MPS Loria Financial Planners LLC purchased a new stake in 3M in the 2nd quarter valued at $124,000. Hoertkorn Richard Charles purchased a new stake in 3M in the 3rd quarter valued at $126,000. Finally, Sawyer & Company Inc purchased a new position in 3M during the 4th quarter worth $138,000. Hedge funds and other institutional investors own 66.09% of the company’s stock.

3M Co (MMM) opened at $231.36 on Wednesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.33 and a current ratio of 1.86. 3M Co has a 12 month low of $180.15 and a 12 month high of $259.77. The firm has a market cap of $136,482.64, a price-to-earnings ratio of 24.99, a PEG ratio of 2.13 and a beta of 1.08.

3M (NYSE:MMM) last posted its quarterly earnings results on Thursday, January 25th. The conglomerate reported $2.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.03 by $0.07. 3M had a net margin of 15.35% and a return on equity of 48.34%. The business had revenue of $7.99 billion for the quarter, compared to analysts’ expectations of $7.85 billion. During the same period in the prior year, the company posted $1.88 EPS. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. research analysts predict that 3M Co will post 10.6 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Friday, February 16th will be paid a dividend of $1.36 per share. The ex-dividend date is Thursday, February 15th. This is a boost from 3M’s previous quarterly dividend of $0.01. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.35%. 3M’s dividend payout ratio is 59.34%.

In other news, EVP Michael F. Roman sold 4,146 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $246.65, for a total transaction of $1,022,610.90. Following the transaction, the executive vice president now directly owns 16,208 shares of the company’s stock, valued at approximately $3,997,703.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Inge G. Thulin sold 35,236 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $251.14, for a total transaction of $8,849,169.04. Following the transaction, the chairman now directly owns 253,873 shares in the company, valued at $63,757,665.22. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,673 shares of company stock worth $12,420,577. Corporate insiders own 0.58% of the company’s stock.

A number of equities analysts have commented on MMM shares. Argus restated a “buy” rating on shares of 3M in a research report on Friday, December 22nd. Citigroup upped their price objective on shares of 3M from $268.00 to $278.00 and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Bank of America upped their price objective on shares of 3M from $227.00 to $257.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. JPMorgan Chase & Co. restated an “underweight” rating and set a $221.00 price objective (up previously from $208.00) on shares of 3M in a research report on Thursday, January 18th. Finally, Zacks Investment Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $271.00 price objective for the company in a research report on Monday, January 15th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $252.12.

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3M Profile

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, , 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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