Obermeyer Wood Investment Counsel Lllp Has $344,000 Holdings in 3M (NYSE:MMM)

Obermeyer Wood Investment Counsel Lllp lessened its position in shares of 3M (NYSE:MMM) by 10.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,151 shares of the conglomerate’s stock after selling 369 shares during the quarter. Obermeyer Wood Investment Counsel Lllp’s holdings in 3M were worth $344,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake 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 valued at $10,391,000 after buying an additional 14,775 shares in the last quarter. Cornerstone Wealth Group LLC acquired a new position in shares of 3M during the third quarter worth about $3,855,000. Shoker Investment Counsel Inc. boosted its position in 3M by 49.7% during the third quarter. Shoker Investment Counsel Inc. now owns 16,747 shares of the conglomerate’s stock valued at $1,568,000 after purchasing an additional 5,561 shares during the last quarter. Diversified Trust Co boosted its position in 3M by 1.4% during the fourth quarter. Diversified Trust Co now owns 18,487 shares of the conglomerate’s stock valued at $2,021,000 after purchasing an additional 263 shares during the last quarter. Finally, MWA Asset Management acquired a new stake in shares of 3M in the fourth quarter valued at approximately $1,723,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

Insider Transactions at 3M

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of 3M stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total transaction of $39,328.32. Following the sale, the insider now directly owns 3,966 shares in the company, valued at approximately $366,141.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on MMM shares. StockNews.com raised 3M from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Royal Bank of Canada lowered their price target on 3M from $84.00 to $78.00 and set an “underperform” rating for the company in a report on Tuesday, April 2nd. JPMorgan Chase & Co. lowered their price target on 3M from $118.00 to $110.00 and set a “neutral” rating for the company in a report on Wednesday. Bank of America reduced their price objective on 3M from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 2nd. Finally, Wells Fargo & Company reduced their price target on 3M from $112.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, 3M presently has an average rating of “Hold” and a consensus target price of $104.00.

3M Price Performance

Shares of NYSE:MMM traded up $0.42 during mid-day trading on Friday, hitting $91.90. The company had a trading volume of 434,646 shares, compared to its average volume of 5,826,414. The firm has a fifty day moving average price of $95.77 and a 200 day moving average price of $97.22. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.76 and a current ratio of 1.07. 3M has a one year low of $71.12 and a one year high of $95.67.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.11. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The firm had revenue of $8.01 billion for the quarter, compared to the consensus estimate of $7.69 billion. During the same quarter in the prior year, the company posted $2.28 earnings per share. The business’s revenue was down 1.1% on a year-over-year basis. Sell-side analysts anticipate that 3M will post 8.79 earnings per share for the current fiscal year.

3M Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 16th were given a dividend of $1.51 per share. This is a positive change from 3M’s previous quarterly dividend of $1.50. This represents a $6.04 dividend on an annualized basis and a dividend yield of 6.57%. The ex-dividend date was Thursday, February 15th. 3M’s dividend payout ratio (DPR) is presently -47.82%.

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.