Valmark Advisers Inc. lessened its holdings in shares of 3M Co (NYSE:MMM) by 4.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,587 shares of the conglomerate’s stock after selling 69 shares during the quarter. Valmark Advisers Inc.’s holdings in 3M were worth $302,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Capital Insight Partners LLC increased its holdings in 3M by 0.6% in the 4th quarter. Capital Insight Partners LLC now owns 8,852 shares of the conglomerate’s stock valued at $1,687,000 after purchasing an additional 56 shares in the last quarter. Sawyer & Company Inc increased its holdings in 3M by 1.6% in the 4th quarter. Sawyer & Company Inc now owns 3,790 shares of the conglomerate’s stock valued at $722,000 after purchasing an additional 60 shares in the last quarter. Atlas Brown Inc. increased its holdings in 3M by 0.9% in the 4th quarter. Atlas Brown Inc. now owns 6,928 shares of the conglomerate’s stock valued at $1,320,000 after purchasing an additional 60 shares in the last quarter. Providence Wealth Advisors LLC increased its holdings in 3M by 0.9% in the 4th quarter. Providence Wealth Advisors LLC now owns 6,851 shares of the conglomerate’s stock valued at $1,297,000 after purchasing an additional 61 shares in the last quarter. Finally, Integrated Investment Consultants LLC increased its holdings in 3M by 2.3% in the 4th quarter. Integrated Investment Consultants LLC now owns 2,677 shares of the conglomerate’s stock valued at $511,000 after purchasing an additional 61 shares in the last quarter. 67.03% of the stock is currently owned by institutional investors.

Several brokerages recently issued reports on MMM. Zacks Investment Research upgraded 3M from a “sell” rating to a “hold” rating in a report on Wednesday, December 19th. Barclays lowered their price target on 3M from $195.00 to $190.00 and set an “underweight” rating for the company in a report on Monday, November 19th. Credit Suisse Group reiterated an “outperform” rating and issued a $220.00 price target (down from $230.00) on shares of 3M in a report on Thursday, January 3rd. reiterated a “sell” rating on shares of 3M in a report on Tuesday, February 12th. Finally, Deutsche Bank increased their price target on 3M from $206.00 to $210.00 and gave the company a “hold” rating in a report on Friday, November 16th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $214.57.

In related news, Chairman Inge G. Thulin sold 13,499 shares of 3M stock in a transaction dated Wednesday, January 30th. The stock was sold at an average price of $200.00, for a total value of $2,699,800.00. Following the completion of the transaction, the chairman now directly owns 230,458 shares in the company, valued at $46,091,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Nicholas C. Gangestad sold 4,681 shares of 3M stock in a transaction dated Thursday, February 7th. The stock was sold at an average price of $201.34, for a total value of $942,472.54. Following the completion of the transaction, the chief financial officer now owns 33,691 shares of the company’s stock, valued at $6,783,345.94. The disclosure for this sale can be found here. Insiders have sold 71,551 shares of company stock valued at $14,335,468 over the last 90 days. Insiders own 0.72% of the company’s stock.

Shares of 3M stock traded down $0.50 during trading hours on Friday, hitting $206.88. 22,753 shares of the company’s stock traded hands, compared to its average volume of 2,232,373. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.89 and a quick ratio of 1.29. The company has a market capitalization of $119.94 billion, a PE ratio of 19.78, a P/E/G ratio of 1.90 and a beta of 1.06. 3M Co has a twelve month low of $176.87 and a twelve month high of $238.17.

3M (NYSE:MMM) last announced its earnings results on Tuesday, January 29th. The conglomerate reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.03. The company had revenue of $7.95 billion during the quarter, compared to the consensus estimate of $7.87 billion. 3M had a return on equity of 57.70% and a net margin of 16.33%. The company’s revenue was down .6% on a year-over-year basis. During the same period last year, the firm earned $2.10 earnings per share. On average, equities analysts expect that 3M Co will post 10.67 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 15th were paid a dividend of $1.44 per share. The ex-dividend date of this dividend was Thursday, February 14th. This is an increase from 3M’s previous quarterly dividend of $1.36. This represents a $5.76 annualized dividend and a dividend yield of 2.78%. 3M’s dividend payout ratio (DPR) is currently 55.07%.

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3M Company Profile

3M Company operates as a diversified technology company worldwide. The company's Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; purification products; closure systems for personal hygiene products; acoustic systems products; automotive components; and abrasion-resistant films, and paint finishing and detailing products.

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

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