Linscomb & Williams Inc. Has $614,000 Holdings in 3M (NYSE:MMM)

Linscomb & Williams Inc. lifted its stake in 3M (NYSE:MMM) by 3.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 3,184 shares of the conglomerate’s stock after buying an additional 116 shares during the quarter. Linscomb & Williams Inc.’s holdings in 3M were worth $614,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Financial Avengers Inc. bought a new stake in 3M during the 4th quarter worth approximately $26,000. IronBridge Private Wealth LLC bought a new stake in 3M during the 4th quarter worth approximately $26,000. Goodwin Investment Advisory bought a new stake in 3M during the 1st quarter worth approximately $33,000. Better Money Decisions LLC bought a new stake in 3M during the 1st quarter worth approximately $38,000. Finally, Lederer & Associates Investment Counsel CA bought a new stake in 3M during the 1st quarter worth approximately $52,000. 66.42% of the stock is owned by institutional investors and hedge funds.

In related news, EVP Kristen M. Ludgate sold 933 shares of the firm’s stock in a transaction on Wednesday, April 21st. The stock was sold at an average price of $200.00, for a total transaction of $186,600.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Ivan K. Fong sold 12,059 shares of the firm’s stock in a transaction on Friday, April 30th. The stock was sold at an average price of $198.46, for a total value of $2,393,229.14. Following the sale, the vice president now directly owns 47,872 shares in the company, valued at approximately $9,500,677.12. The disclosure for this sale can be found here. Insiders have sold a total of 13,025 shares of company stock worth $2,586,414 in the last ninety days. 0.34% of the stock is currently owned by company insiders.

A number of equities research analysts recently commented on the company. Barclays increased their price target on 3M from $163.00 to $180.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 6th. Royal Bank of Canada increased their price objective on 3M from $198.00 to $200.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 28th. Deutsche Bank Aktiengesellschaft increased their price objective on 3M from $192.00 to $199.00 and gave the company a “hold” rating in a research report on Wednesday, April 28th. Zacks Investment Research upgraded 3M from a “sell” rating to a “hold” rating and set a $206.00 price objective on the stock in a research report on Thursday, April 29th. Finally, Morgan Stanley increased their price objective on 3M from $188.00 to $200.00 and gave the company an “equal weight” rating in a research report on Monday, April 12th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $193.45.

NYSE:MMM opened at $203.13 on Friday. 3M has a 12-month low of $148.80 and a 12-month high of $208.95. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.83 and a quick ratio of 1.30. The company has a market cap of $117.75 billion, a price-to-earnings ratio of 20.73, a P/E/G ratio of 2.20 and a beta of 0.96. The business has a fifty day moving average of $200.54.

3M (NYSE:MMM) last posted its quarterly earnings results on Monday, April 26th. The conglomerate reported $2.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.29 by $0.48. 3M had a return on equity of 44.00% and a net margin of 17.34%. The business had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.43 billion. During the same period last year, the company earned $2.16 EPS. The firm’s revenue was up 9.6% on a year-over-year basis. On average, sell-side analysts predict that 3M will post 9.73 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 12th. Investors of record on Friday, May 21st will be paid a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 2.91%. The ex-dividend date is Thursday, May 20th. 3M’s payout ratio is presently 67.73%.

3M Company Profile

3M Company develops, manufactures, and markets various products worldwide. It operates through four business segments: Safety and Industrial, Transportation and Electronics, Health Care, and Consumer. The Safety and Industrial segment offers personal safety products, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules to industrial, electrical, and safety markets.

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

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