Edmp Inc. Has $1.59 Million Stock Holdings in 3M (NYSE:MMM)

Edmp Inc. reduced its stake in shares of 3M (NYSE:MMM) by 23.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,315 shares of the conglomerate’s stock after selling 3,671 shares during the quarter. 3M accounts for 1.5% of Edmp Inc.’s holdings, making the stock its 27th biggest holding. Edmp Inc.’s holdings in 3M were worth $1,590,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Gilbert & Cook Inc. increased its holdings in 3M by 1.5% in the 4th quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate’s stock valued at $659,000 after buying an additional 73 shares during the period. Childress Capital Advisors LLC increased its stake in 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 acquiring an additional 76 shares during the last quarter. Wynn Capital LLC raised its position in 3M by 0.7% during the fourth quarter. Wynn Capital LLC now owns 11,690 shares of the conglomerate’s stock valued at $1,509,000 after purchasing an additional 80 shares in the last quarter. Harbour Investments Inc. lifted its stake in 3M by 0.8% during the third quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate’s stock worth $1,443,000 after purchasing an additional 81 shares during the last quarter. Finally, William Allan Corp boosted its holdings in shares of 3M by 1.4% in the 4th quarter. William Allan Corp now owns 5,959 shares of the conglomerate’s stock valued at $769,000 after purchasing an additional 82 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.

3M Stock Performance

Shares of 3M stock opened at $149.59 on Tuesday. The company has a market cap of $81.21 billion, a P/E ratio of 19.81, a PEG ratio of 3.37 and a beta of 0.96. The business has a 50-day moving average price of $137.11 and a two-hundred day moving average price of $132.92. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. 3M has a 1-year low of $75.40 and a 1-year high of $155.00.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping the consensus estimate of $1.66 by $0.02. The company had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The company’s quarterly revenue was down 25.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.42 EPS. As a group, analysts anticipate that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

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

Wall Street Analyst Weigh In

MMM has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their price objective on 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Royal Bank of Canada restated an “underperform” rating and issued a $96.00 price target on shares of 3M in a research note on Wednesday, January 22nd. Barclays upped their price objective on shares of 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Weiss Ratings restated a “hold (c)” rating on shares of 3M in a research report on Saturday, February 1st. Finally, Melius upgraded shares of 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, 3M currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.87.

Insider Activity at 3M

In related news, EVP Victoria Clarke sold 1,750 shares of the firm’s 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 approximately $29,918.68. This trade represents a 90.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $149.43, for a total value of $944,098.74. Following the sale, the insider now directly owns 5,024 shares of the company’s stock, valued at $750,736.32. This represents a 55.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,639 shares of company stock valued at $17,163,446. 0.34% of the stock is owned by company insiders.

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.