Edmp Inc. Trims Stock Holdings in 3M (NYSE:MMM)

Edmp Inc. trimmed its holdings in 3M (NYSE:MMM - Free Report) by 23.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,315 shares of the conglomerate's stock after selling 3,671 shares during the period. 3M accounts for 1.5% of Edmp Inc.'s holdings, making the stock its 27th largest position. Edmp Inc.'s holdings in 3M were worth $1,590,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Livforsakringsbolaget Skandia Omsesidigt lifted its position in 3M by 326.7% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,785 shares of the conglomerate's stock worth $517,000 after purchasing an additional 2,898 shares during the period. Gateway Investment Advisers LLC boosted its position in shares of 3M by 58.3% during the 3rd quarter. Gateway Investment Advisers LLC now owns 6,470 shares of the conglomerate's stock worth $884,000 after acquiring an additional 2,382 shares in the last quarter. Ritholtz Wealth Management increased its stake in 3M by 57.0% in the third quarter. Ritholtz Wealth Management now owns 7,628 shares of the conglomerate's stock valued at $1,043,000 after acquiring an additional 2,768 shares during the last quarter. Exchange Traded Concepts LLC raised its position in 3M by 1,450.6% during the third quarter. Exchange Traded Concepts LLC now owns 2,419 shares of the conglomerate's stock valued at $331,000 after purchasing an additional 2,263 shares in the last quarter. Finally, Sound Income Strategies LLC lifted its stake in 3M by 6.3% during the third quarter. Sound Income Strategies LLC now owns 3,006 shares of the conglomerate's stock worth $411,000 after purchasing an additional 179 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling at 3M

In other 3M news, CAO Theresa E. Reinseth sold 2,309 shares of the firm's stock in a transaction on Friday, January 24th. The shares were sold at an average price of $149.95, for a total value of $346,234.55. Following the transaction, the chief accounting officer now directly owns 4,417 shares of the company's stock, valued at approximately $662,329.15. This trade represents a 34.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Victoria Clarke sold 1,750 shares of 3M stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $154.22, for a total value of $269,885.00. Following the transaction, the executive vice president now owns 194 shares of the company's stock, valued at $29,918.68. This trade represents a 90.02 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,639 shares of company stock valued at $17,163,446. Corporate insiders own 0.34% of the company's stock.

3M Trading Up 0.2 %

MMM traded up $0.37 during trading on Tuesday, reaching $150.06. 2,187,693 shares of the stock traded hands, compared to its average volume of 4,238,418. The stock's 50-day moving average is $137.44 and its 200 day moving average is $133.25. 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 stock has a market capitalization of $81.47 billion, a PE ratio of 19.88, a P/E/G ratio of 3.37 and a beta of 0.96.

3M (NYSE:MMM - Get Free Report) last released its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping the consensus estimate of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The business had revenue of $6.01 billion during the quarter, compared to analysts' expectations of $5.77 billion. During the same quarter last year, the firm posted $2.42 earnings per share. The firm's revenue was down 25.0% on a year-over-year basis. Equities analysts anticipate that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th will be issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 1.95%. This is a boost from 3M's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, February 14th. 3M's dividend payout ratio (DPR) is presently 37.09%.

Wall Street Analysts Forecast Growth

MMM has been the subject of a number of research analyst reports. Royal Bank of Canada reissued an "underperform" rating and set a $96.00 price target on shares of 3M in a report on Wednesday, January 22nd. Citigroup boosted their target price on 3M from $142.00 to $152.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. lifted their price target on shares of 3M from $162.00 to $165.00 and gave the company an "overweight" rating in a report on Wednesday, January 22nd. Melius Research upgraded shares of 3M from a "hold" rating to a "buy" rating and set a $180.00 price objective for the company in a research report on Tuesday, October 22nd. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of 3M in a report on Saturday, February 1st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target 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.