Wilkins Investment Counsel Inc. Sells 2,883 Shares of 3M (MMM)

Wilkins Investment Counsel Inc. lowered its holdings in shares of 3M (NYSE:MMM) by 6.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,045 shares of the conglomerate’s stock after selling 2,883 shares during the quarter. 3M comprises about 3.1% of Wilkins Investment Counsel Inc.’s investment portfolio, making the stock its 9th biggest position. Wilkins Investment Counsel Inc.’s holdings in 3M were worth $9,888,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Lenox Wealth Advisors Inc. grew its stake 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 buying an additional 489 shares during the last quarter. Horan Capital Management acquired a new position in 3M in the 4th quarter valued at $123,000. Virtue Capital Management LLC acquired a new position in 3M in the 4th quarter valued at $127,000. Ballew Advisors Inc acquired a new position in 3M in the 1st quarter valued at $122,000. Finally, Field & Main Bank acquired a new position in 3M in the 4th quarter valued at $140,000. Institutional investors and hedge funds own 65.66% of the company’s stock.

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A number of research analysts recently issued reports on MMM shares. Vetr upgraded shares of 3M from a “buy” rating to a “strong-buy” rating and set a $256.47 target price on the stock in a research note on Friday, March 23rd. Royal Bank of Canada reiterated a “hold” rating and issued a $254.00 target price on shares of 3M in a research note on Thursday, January 25th. Citigroup set a $284.00 target price on shares of 3M and gave the company a “buy” rating in a research note on Saturday, March 24th. JPMorgan Chase lowered their target price on shares of 3M from $227.00 to $221.00 and set an “underweight” rating on the stock in a research note on Thursday, April 26th. Finally, Zacks Investment Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $278.00 target price on the stock in a research note on Tuesday, January 23rd. Five analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $241.97.

In other news, EVP Frank R. Jr. Little sold 3,133 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $236.85, for a total transaction of $742,051.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.72% of the stock is currently owned by company insiders.

3M opened at $198.96 on Monday, according to Marketbeat. The company has a current ratio of 1.65, a quick ratio of 1.17 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $118.12 billion, a price-to-earnings ratio of 21.70, a P/E/G ratio of 1.88 and a beta of 1.17. 3M has a 52-week low of $191.44 and a 52-week high of $259.77.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, April 24th. The conglomerate reported $2.50 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.50. The company had revenue of $8.28 billion for the quarter, compared to analyst estimates of $8.21 billion. 3M had a net margin of 12.83% and a return on equity of 50.11%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the business posted $2.16 EPS. research analysts forecast that 3M will post 10.42 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 12th. Shareholders of record on Friday, May 18th will be given a $1.36 dividend. The ex-dividend date is Thursday, May 17th. This represents a $5.44 annualized dividend and a yield of 2.73%. 3M’s dividend payout ratio is 59.32%.

3M 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.

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

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