Mycio Wealth Partners LLC grew its stake in 3M Co (NYSE:MMM) by 1.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 5,214 shares of the conglomerate’s stock after buying an additional 80 shares during the quarter. Mycio Wealth Partners LLC’s holdings in 3M were worth $904,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in MMM. Lederer & Associates Investment Counsel CA lifted its stake in 3M by 2.1% in the first quarter. Lederer & Associates Investment Counsel CA now owns 2,410 shares of the conglomerate’s stock valued at $501,000 after buying an additional 50 shares during the last quarter. Shine Investment Advisory Services Inc. lifted its stake in 3M by 35.2% in the first quarter. Shine Investment Advisory Services Inc. now owns 192 shares of the conglomerate’s stock valued at $40,000 after buying an additional 50 shares during the last quarter. Peoples Financial Services CORP. lifted its stake in 3M by 0.3% in the first quarter. Peoples Financial Services CORP. now owns 16,027 shares of the conglomerate’s stock valued at $3,330,000 after buying an additional 50 shares during the last quarter. Bfsg LLC lifted its stake in 3M by 0.4% in the first quarter. Bfsg LLC now owns 14,084 shares of the conglomerate’s stock valued at $2,926,000 after buying an additional 55 shares during the last quarter. Finally, Nwam LLC lifted its stake in 3M by 1.0% in the first quarter. Nwam LLC now owns 5,853 shares of the conglomerate’s stock valued at $1,216,000 after buying an additional 57 shares during the last quarter. Institutional investors and hedge funds own 66.84% of the company’s stock.

In related news, insider John Patrick Banovetz sold 1,040 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $170.40, for a total transaction of $177,216.00. Following the transaction, the insider now owns 5,974 shares of the company’s stock, valued at $1,017,969.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.83% of the company’s stock.

A number of brokerages have weighed in on MMM. Citigroup reduced their price objective on 3M from $221.00 to $197.00 and set a “buy” rating for the company in a research note on Monday, June 3rd. Royal Bank of Canada set a $179.00 target price on 3M and gave the company a “hold” rating in a report on Friday, July 26th. Argus lowered 3M from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Morgan Stanley boosted their target price on 3M from $172.00 to $177.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Finally, Wolfe Research set a $174.00 target price on 3M and gave the company a “sell” rating in a report on Friday, April 26th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $182.54.

Shares of NYSE:MMM traded up $0.65 during trading on Wednesday, reaching $161.66. The company had a trading volume of 83,690 shares, compared to its average volume of 3,281,698. The firm has a market capitalization of $92.91 billion, a price-to-earnings ratio of 15.43, a price-to-earnings-growth ratio of 1.83 and a beta of 1.09. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.93 and a quick ratio of 1.34. The stock’s fifty day moving average price is $169.71 and its 200 day moving average price is $186.79. 3M Co has a fifty-two week low of $155.63 and a fifty-two week high of $219.75.

3M (NYSE:MMM) last announced its quarterly earnings data on Thursday, July 25th. The conglomerate reported $2.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.04 by $0.16. 3M had a return on equity of 55.05% and a net margin of 15.27%. The firm had revenue of $8.17 billion for the quarter, compared to analyst estimates of $8.10 billion. During the same quarter in the prior year, the company posted $2.59 earnings per share. 3M’s quarterly revenue was down 2.6% on a year-over-year basis. On average, equities analysts anticipate that 3M Co will post 9.28 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Friday, August 16th will be issued a dividend of $1.44 per share. This represents a $5.76 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend is Thursday, August 15th. 3M’s dividend payout ratio is presently 55.07%.

About 3M

3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, abrasion-resistant films, and paint finishing and detailing products.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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