Laird Norton Wetherby Wealth Management LLC Sells 326 Shares of 3M (NYSE:MMM)

Laird Norton Wetherby Wealth Management LLC lessened its holdings in shares of 3M (NYSE:MMM) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,215 shares of the conglomerate’s stock after selling 326 shares during the quarter. Laird Norton Wetherby Wealth Management LLC’s holdings in 3M were worth $1,319,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Investors Asset Management of Georgia Inc. GA ADV raised its position in shares of 3M by 1.3% in the fourth quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,377 shares of the conglomerate’s stock valued at $694,000 after purchasing an additional 67 shares during the period. Parkside Financial Bank & Trust raised its position in shares of 3M by 1.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 5,153 shares of the conglomerate’s stock valued at $665,000 after purchasing an additional 70 shares during the period. LaSalle St. Investment Advisors LLC raised its position 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 during the period. Gilbert & Cook Inc. raised its position in shares of 3M by 1.5% in the fourth quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate’s stock valued at $659,000 after purchasing an additional 73 shares during the period. Finally, Childress Capital Advisors LLC raised its position in shares of 3M by 5.1% in the fourth quarter. Childress Capital Advisors LLC now owns 1,573 shares of the conglomerate’s stock valued at $203,000 after purchasing an additional 76 shares during the period. Institutional investors own 65.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MMM. Royal Bank of Canada lifted their price target on shares of 3M from $98.00 to $100.00 and gave the company an “underperform” rating in a research report on Wednesday, April 23rd. Weiss Ratings restated a “hold (c+)” rating on shares of 3M in a research note on Saturday. Citigroup lowered their price objective on shares of 3M from $152.00 to $142.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. lowered their price objective on shares of 3M from $165.00 to $140.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Finally, Barclays raised their price objective on shares of 3M from $160.00 to $164.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $149.29.

3M Stock Up 0.3%

MMM opened at $150.73 on Wednesday. 3M has a fifty-two week low of $96.76 and a fifty-two week high of $156.35. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The firm’s fifty day moving average price is $141.43 and its two-hundred day moving average price is $138.96. The company has a market capitalization of $81.12 billion, a P/E ratio of 19.96, a P/E/G ratio of 3.30 and a beta of 1.02.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.11. The company had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.78 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. On average, analysts anticipate that 3M will post 7.8 EPS for the current year.

3M Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.94%. 3M’s payout ratio is presently 36.87%.

3M 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.