Wills Financial Group Inc. Has $2.65 Million Holdings in 3M Co (MMM)

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Wills Financial Group Inc. lessened its holdings in shares of 3M Co (NYSE:MMM) by 1.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 13,886 shares of the conglomerate’s stock after selling 245 shares during the period. 3M accounts for 2.0% of Wills Financial Group Inc.’s portfolio, making the stock its 19th largest position. Wills Financial Group Inc.’s holdings in 3M were worth $2,645,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Municipal Employees Retirement System of Michigan bought a new stake in 3M in the 4th quarter valued at $6,030,000. Alexandria Capital LLC lifted its position in 3M by 20.5% in the 4th quarter. Alexandria Capital LLC now owns 2,998 shares of the conglomerate’s stock valued at $572,000 after acquiring an additional 511 shares in the last quarter. Gotham Asset Management LLC lifted its position in 3M by 74.1% in the 4th quarter. Gotham Asset Management LLC now owns 227,695 shares of the conglomerate’s stock valued at $43,385,000 after acquiring an additional 96,874 shares in the last quarter. Miramar Capital LLC bought a new stake in 3M in the 4th quarter valued at $3,294,000. Finally, Sontag Advisory LLC bought a new stake in 3M in the 4th quarter valued at $117,000. 67.20% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts recently commented on the stock. Barclays cut their price objective on shares of 3M from $189.00 to $188.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 3rd. Zacks Investment Research cut shares of 3M from a “hold” rating to a “sell” rating in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. cut their price objective on shares of 3M from $158.00 to $154.00 and set an “underweight” rating on the stock in a research report on Friday, March 29th. Morgan Stanley cut their price target on shares of 3M from $201.00 to $199.00 and set an “equal weight” rating on the stock in a research report on Friday, March 22nd. Finally, reissued a “sell” rating on shares of 3M in a research report on Tuesday, February 12th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $205.50.

In other 3M news, Chairman Inge G. Thulin sold 13,499 shares of the business’s stock in a transaction dated Wednesday, January 30th. The shares were sold at an average price of $200.00, for a total transaction of $2,699,800.00. Following the sale, the chairman now directly owns 230,458 shares of the company’s stock, valued at approximately $46,091,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul A. Keel sold 9,410 shares of the business’s stock in a transaction dated Friday, February 8th. The stock was sold at an average price of $199.14, for a total transaction of $1,873,907.40. Following the transaction, the insider now owns 23,009 shares in the company, valued at $4,582,012.26. The disclosure for this sale can be found here. Insiders have sold a total of 77,414 shares of company stock worth $15,553,682 over the last three months. Insiders own 0.83% of the company’s stock.

Shares of NYSE:MMM opened at $218.88 on Monday. The company has a current ratio of 1.89, a quick ratio of 1.29 and a debt-to-equity ratio of 1.36. 3M Co has a one year low of $176.87 and a one year high of $220.28. The stock has a market cap of $126.03 billion, a price-to-earnings ratio of 20.93, a price-to-earnings-growth ratio of 2.05 and a beta of 1.05.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, January 29th. The conglomerate reported $2.31 EPS for the quarter, topping the consensus estimate of $2.28 by $0.03. 3M had a net margin of 16.33% and a return on equity of 57.70%. The firm had revenue of $7.95 billion for the quarter, compared to analysts’ expectations of $7.87 billion. During the same period in the previous year, the firm posted $2.10 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. As a group, equities analysts forecast that 3M Co will post 10.51 EPS for the current fiscal year.

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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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