Weaver C. Barksdale & Associates Inc. Sells 214 Shares of 3M Co (MMM)

Weaver C. Barksdale & Associates Inc. decreased its holdings in 3M Co (NYSE:MMM) by 3.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,802 shares of the conglomerate’s stock after selling 214 shares during the quarter. 3M comprises about 1.7% of Weaver C. Barksdale & Associates Inc.’s portfolio, making the stock its 21st biggest position. Weaver C. Barksdale & Associates Inc.’s holdings in 3M were worth $1,601,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Advisor Partners LLC increased its stake in shares of 3M by 4.6% in the 3rd quarter. Advisor Partners LLC now owns 17,127 shares of the conglomerate’s stock valued at $3,595,000 after purchasing an additional 747 shares in the last quarter. Griffin Asset Management Inc. boosted its holdings in 3M by 51.7% in the 3rd quarter. Griffin Asset Management Inc. now owns 27,576 shares of the conglomerate’s stock worth $5,788,000 after buying an additional 9,394 shares during the last quarter. Twin Capital Management Inc. acquired a new stake in 3M in the 2nd quarter worth about $6,178,000. Aperio Group LLC boosted its holdings in 3M by 6.8% in the 3rd quarter. Aperio Group LLC now owns 559,122 shares of the conglomerate’s stock worth $117,360,000 after buying an additional 35,815 shares during the last quarter. Finally, Willis Investment Counsel boosted its holdings in 3M by 3.2% in the 3rd quarter. Willis Investment Counsel now owns 42,405 shares of the conglomerate’s stock worth $8,901,000 after buying an additional 1,300 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Shares of 3M Co (MMM) traded up $1.49 on Wednesday, hitting $241.28. 1,695,100 shares of the stock traded hands, compared to its average volume of 2,127,950. 3M Co has a twelve month low of $173.55 and a twelve month high of $244.23. The firm has a market capitalization of $143,920.00, a P/E ratio of 26.93, a price-to-earnings-growth ratio of 2.39 and a beta of 1.10. The company has a quick ratio of 1.47, a current ratio of 2.07 and a debt-to-equity ratio of 0.89.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.12. The firm had revenue of $8.17 billion during the quarter, compared to analysts’ expectations of $7.93 billion. 3M had a net margin of 17.71% and a return on equity of 48.55%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.15 earnings per share. sell-side analysts forecast that 3M Co will post 9.09 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 12th. Investors of record on Friday, November 24th were issued a dividend of $0.0118 per share. The ex-dividend date was Wednesday, November 22nd. This represents a $0.05 annualized dividend and a yield of 0.02%. 3M’s dividend payout ratio is currently 52.46%.

In related news, VP Khandpur K. Ashish sold 4,004 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $231.39, for a total transaction of $926,485.56. Following the completion of the transaction, the vice president now directly owns 5,236 shares of the company’s stock, valued at $1,211,558.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Frank R. Jr. Little sold 1,500 shares of the stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $234.47, for a total transaction of $351,705.00. The disclosure for this sale can be found here. Insiders have sold 22,804 shares of company stock valued at $5,303,706 over the last three months. 0.58% of the stock is currently owned by corporate insiders.

Several equities research analysts recently issued reports on the company. Royal Bank of Canada reiterated a “hold” rating and issued a $209.00 price objective on shares of 3M in a report on Friday, September 15th. Zacks Investment Research upgraded 3M from a “hold” rating to a “buy” rating and set a $264.00 target price on the stock in a report on Thursday, January 4th. Jefferies Group boosted their target price on 3M to $262.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. JPMorgan Chase & Co. cut 3M from a “neutral” rating to an “underweight” rating and upped their price objective for the company from $185.00 to $201.00 in a report on Wednesday, September 20th. Finally, Stifel Nicolaus upped their price objective on 3M from $220.00 to $244.00 and gave the company a “hold” rating in a report on Wednesday, October 25th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company’s stock. 3M currently has a consensus rating of “Hold” and an average price target of $231.59.

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3M Company 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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