3M (NYSE:MMM) Stock Holdings Decreased by Welch & Forbes LLC

Welch & Forbes LLC decreased its stake in 3M (NYSE:MMM) by 3.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,865 shares of the conglomerate’s stock after selling 1,802 shares during the period. Welch & Forbes LLC’s holdings in 3M were worth $5,889,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in 3M by 15.4% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 110,988 shares of the conglomerate’s stock worth $10,391,000 after purchasing an additional 14,775 shares during the last quarter. Shoker Investment Counsel Inc. boosted its position in shares of 3M by 49.7% in the third quarter. Shoker Investment Counsel Inc. now owns 16,747 shares of the conglomerate’s stock worth $1,568,000 after buying an additional 5,561 shares during the period. MWA Asset Management purchased a new position in 3M during the 4th quarter valued at about $1,723,000. Diversified Trust Co lifted its position in 3M by 1.4% in the 4th quarter. Diversified Trust Co now owns 18,487 shares of the conglomerate’s stock worth $2,021,000 after buying an additional 263 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of 3M during the 3rd quarter valued at about $11,908,000. 65.25% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total transaction of $39,328.32. Following the transaction, the insider now owns 3,966 shares in the company, valued at $366,141.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.38% of the stock is currently owned by insiders.

3M Stock Performance

Shares of NYSE:MMM traded down $1.04 during trading on Tuesday, hitting $95.55. The company’s stock had a trading volume of 4,408,683 shares, compared to its average volume of 5,865,751. The company has a 50-day moving average of $96.30 and a 200-day moving average of $97.84. The firm has a market cap of $52.87 billion, a price-to-earnings ratio of -7.51, a P/E/G ratio of 1.79 and a beta of 1.00. The company has a debt-to-equity ratio of 4.17, a current ratio of 1.64 and a quick ratio of 1.27. 3M has a 12 month low of $71.12 and a 12 month high of $99.70.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.29. The firm had revenue of $8 billion for the quarter, compared to analysts’ expectations of $7.64 billion. 3M had a negative net margin of 21.57% and a positive return on equity of 95.80%. During the same quarter last year, the business posted $1.97 earnings per share. On average, sell-side analysts expect that 3M will post 7.23 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MMM. Wells Fargo & Company reduced their price objective on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 24th. StockNews.com upgraded 3M from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 25th. Citigroup raised their price target on 3M from $98.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. UBS Group raised their price objective on shares of 3M from $98.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Finally, Mizuho restated a “neutral” rating and set a $105.00 price objective on shares of 3M in a research note on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $103.70.

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.