Arlington Partners LLC Has $4.61 Million Stake in 3M Company (NYSE:MMM)

Arlington Partners LLC trimmed its holdings in shares of 3M Company (NYSE:MMM - Free Report) by 8.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,370 shares of the conglomerate's stock after selling 3,000 shares during the period. 3M accounts for approximately 1.8% of Arlington Partners LLC's holdings, making the stock its 11th largest holding. Arlington Partners LLC's holdings in 3M were worth $4,607,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MMM. Parkside Financial Bank & Trust increased its position in 3M by 1.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 5,153 shares of the conglomerate's stock valued at $665,000 after acquiring an additional 70 shares in the last quarter. LaSalle St. Investment Advisors LLC increased its holdings in shares of 3M by 2.5% in the fourth quarter. LaSalle St. Investment Advisors LLC now owns 2,951 shares of the conglomerate's stock valued at $381,000 after purchasing an additional 71 shares in the last quarter. Capital Advisors Ltd. LLC increased its stake in shares of 3M by 5.3% in the 4th quarter. Capital Advisors Ltd. LLC now owns 1,519 shares of the conglomerate's stock valued at $196,000 after buying an additional 77 shares during the period. NBT Bank N A NY increased its stake in shares of 3M by 0.8% in the 1st quarter. NBT Bank N A NY now owns 9,744 shares of the conglomerate's stock valued at $1,431,000 after buying an additional 79 shares during the period. Finally, Cherry Creek Investment Advisors Inc. increased its stake in shares of 3M by 0.8% in the 1st quarter. Cherry Creek Investment Advisors Inc. now owns 10,775 shares of the conglomerate's stock valued at $1,582,000 after buying an additional 83 shares during the period. 65.25% of the stock is owned by institutional investors and hedge funds.

3M Trading Up 1.6%

NYSE MMM opened at $149.92 on Wednesday. The company has a market cap of $80.68 billion, a PE ratio of 18.93, a PEG ratio of 3.06 and a beta of 1.03. The company has a current ratio of 1.66, a quick ratio of 1.25 and a debt-to-equity ratio of 2.72. The stock has a 50 day moving average of $143.64 and a 200-day moving average of $142.44. 3M Company has a 12 month low of $98.26 and a 12 month high of $156.35.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.11. 3M had a net margin of 17.79% and a return on equity of 96.19%. The firm had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.78 billion. On average, equities research analysts anticipate that 3M Company will post 7.8 EPS for the current fiscal year.

3M Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were issued a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 1.95%. 3M's dividend payout ratio is presently 36.87%.

Insider Activity at 3M

In other 3M news, EVP Zoe L. Dickson sold 7,915 shares of the company's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $149.02, for a total value of $1,179,493.30. Following the completion of the transaction, the executive vice president now owns 6,127 shares of the company's stock, valued at $913,045.54. This represents a 56.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John Patrick Banovetz sold 7,759 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $148.37, for a total transaction of $1,151,202.83. Following the completion of the transaction, the executive vice president now owns 31,372 shares of the company's stock, valued at approximately $4,654,663.64. This trade represents a 19.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Bank of America lifted their price target on shares of 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a report on Wednesday, June 11th. Barclays lifted their price objective on 3M from $160.00 to $164.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 23rd. Royal Bank Of Canada boosted their target price on 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a research report on Wednesday, April 23rd. Finally, Citigroup boosted their target price on 3M from $141.00 to $160.00 and gave the stock a "neutral" rating in a research 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 issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $155.83.

About 3M

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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