3M Company (NYSE:MMM) Stock Position Increased by Wilkins Investment Counsel Inc.

Key Points

• Wilkins Investment Counsel Inc. increased its position in 3M Company by 1.2%, now owning 151,470 shares valued at approximately $22.2 million, making it the 9th largest holding in their portfolio.
• Analysts have mixed ratings for 3M stock, with an average rating of "Moderate Buy" and a consensus target price of $156.33.
• The company recently declared a quarterly dividend of $0.73, representing a 1.95% yield and a payout ratio of 40.61%.

Wilkins Investment Counsel Inc. boosted its holdings in 3M Company (NYSE:MMM - Free Report) by 1.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 151,470 shares of the conglomerate's stock after buying an additional 1,790 shares during the period. 3M makes up 3.2% of Wilkins Investment Counsel Inc.'s investment portfolio, making the stock its 9th biggest holding. Wilkins Investment Counsel Inc.'s holdings in 3M were worth $22,245,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC lifted its holdings in 3M by 26.6% during the 4th quarter. Brighton Jones LLC now owns 8,898 shares of the conglomerate's stock worth $1,149,000 after purchasing an additional 1,872 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of 3M during the fourth quarter valued at about $202,000. American Century Companies Inc. lifted its holdings in shares of 3M by 12.0% in the fourth quarter. American Century Companies Inc. now owns 102,773 shares of the conglomerate's stock worth $13,267,000 after buying an additional 11,032 shares in the last quarter. Sei Investments Co. boosted its position in shares of 3M by 13.3% in the fourth quarter. Sei Investments Co. now owns 147,942 shares of the conglomerate's stock valued at $19,099,000 after acquiring an additional 17,330 shares during the period. Finally, Congress Wealth Management LLC DE boosted its position in shares of 3M by 6.8% in the fourth quarter. Congress Wealth Management LLC DE now owns 10,101 shares of the conglomerate's stock valued at $1,304,000 after acquiring an additional 641 shares during the period. Institutional investors own 65.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MMM shares. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a report on Saturday, July 12th. Barclays set a $170.00 price target on shares of 3M in a report on Friday, July 18th. Royal Bank Of Canada lifted their price objective on 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research note on Wednesday, April 23rd. Wells Fargo & Company restated an "overweight" rating on shares of 3M in a research report on Friday, July 18th. Finally, Citigroup raised their price target on 3M from $141.00 to $160.00 and gave the company a "neutral" rating in a report on Friday, May 30th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, 3M has an average rating of "Moderate Buy" and a consensus target price of $156.33.

Insider Activity

In other news, EVP Zoe L. Dickson sold 7,915 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $149.02, for a total transaction of $1,179,493.30. Following the transaction, the executive vice president directly owned 6,127 shares of the company's stock, valued at approximately $913,045.54. This trade represents a 56.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John Patrick Banovetz sold 7,759 shares of the business's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $148.37, for a total value of $1,151,202.83. Following the completion of the sale, the executive vice president directly owned 31,372 shares of the company's stock, valued at approximately $4,654,663.64. This trade represents a 19.83% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company's stock.

3M Stock Performance

Shares of NYSE MMM opened at $149.40 on Friday. The stock's 50-day moving average is $150.03 and its 200 day moving average is $146.02. The stock has a market cap of $79.57 billion, a price-to-earnings ratio of 20.78, a P/E/G ratio of 3.04 and a beta of 1.02. 3M Company has a 1-year low of $101.77 and a 1-year high of $164.15. The company has a current ratio of 1.72, a quick ratio of 1.20 and a debt-to-equity ratio of 2.87.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings results on Friday, July 18th. The conglomerate reported $2.16 EPS for the quarter, beating analysts' consensus estimates of $2.01 by $0.15. The business had revenue of $6.16 billion for the quarter, compared to analysts' expectations of $6.09 billion. 3M had a net margin of 16.01% and a return on equity of 96.48%. The business's quarterly revenue was up 1.4% on a year-over-year basis. During the same period last year, the business earned $1.93 earnings per share. On average, sell-side analysts anticipate that 3M Company will post 7.8 EPS for the current fiscal year.

3M Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were paid a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 1.95%. 3M's dividend payout ratio is presently 40.61%.

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.

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