Eagle Bluffs Wealth Management LLC Has $1.72 Million Stake in 3M (NYSE:MMM)

Eagle Bluffs Wealth Management LLC lowered its stake in 3M (NYSE:MMM) by 2.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,303 shares of the conglomerate’s stock after selling 300 shares during the period. Eagle Bluffs Wealth Management LLC’s holdings in 3M were worth $1,717,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Gilbert & Cook Inc. boosted its position in 3M by 1.5% during the fourth quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate’s stock worth $659,000 after purchasing an additional 73 shares during the period. CVA Family Office LLC boosted its holdings in shares of 3M by 1.9% during the 3rd quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate’s stock worth $571,000 after buying an additional 79 shares during the period. Wynn Capital LLC grew its stake in 3M by 0.7% in the 4th quarter. Wynn Capital LLC now owns 11,690 shares of the conglomerate’s stock valued at $1,509,000 after buying an additional 80 shares during the last quarter. Harbour Investments Inc. raised its holdings in 3M by 0.8% in the 3rd quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate’s stock worth $1,443,000 after acquiring an additional 81 shares during the period. Finally, KMG Fiduciary Partners LLC boosted its holdings in 3M by 0.5% during the third quarter. KMG Fiduciary Partners LLC now owns 16,186 shares of the conglomerate’s stock valued at $2,213,000 after acquiring an additional 84 shares during the period. Institutional investors own 65.25% of the company’s stock.

3M Trading Down 1.4 %

Shares of 3M stock opened at $152.26 on Friday. The stock has a market capitalization of $82.92 billion, a P/E ratio of 20.17, a price-to-earnings-growth ratio of 3.35 and a beta of 0.95. 3M has a 12-month low of $75.40 and a 12-month high of $155.00. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The company has a 50-day simple moving average of $135.21 and a 200 day simple moving average of $130.88.

3M (NYSE:MMM) last posted its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. The company had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. 3M’s quarterly revenue was down 25.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.42 earnings per share. Research analysts expect that 3M will post 7.8 earnings per share for the current fiscal year.

3M Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were issued a $0.70 dividend. The ex-dividend date was Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.84%. 3M’s dividend payout ratio is 37.09%.

Insider Buying and Selling

In other news, Chairman Michael F. Roman sold 45,276 shares of the company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $150.01, for a total transaction of $6,791,852.76. Following the transaction, the chairman now owns 175,718 shares of the company’s stock, valued at $26,359,457.18. This represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the company’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $149.43, for a total value of $944,098.74. Following the transaction, the insider now directly owns 5,024 shares in the company, valued at $750,736.32. This trade represents a 55.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 111,889 shares of company stock worth $16,893,561 in the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MMM. Melius upgraded 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Bank of America increased their price objective on 3M from $160.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Royal Bank of Canada reaffirmed an “underperform” rating and set a $96.00 price objective on shares of 3M in a research report on Wednesday, January 22nd. Weiss Ratings restated a “hold (c)” rating on shares of 3M in a research note on Saturday, January 18th. Finally, Mizuho boosted their price target on 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $148.87.

3M Company Profile

3M Company provides diversified technology services in the United States and internationally. The company’s Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.