Signition LP Buys Shares of 1,615 3M Co (NYSE:MMM)

Signition LP purchased a new stake in shares of 3M Co (NYSE:MMM) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,615 shares of the conglomerate’s stock, valued at approximately $380,000.

Other institutional investors also recently made changes to their positions in the company. Lenox Wealth Advisors Inc. raised its position in 3M by 16,300.0% during the 4th quarter. Lenox Wealth Advisors Inc. now owns 492 shares of the conglomerate’s stock valued at $116,000 after purchasing an additional 489 shares in the last quarter. Horan Capital Management bought a new position in shares of 3M in the 4th quarter worth $123,000. Sawyer & Company Inc bought a new position in shares of 3M in the 4th quarter worth $138,000. Field & Main Bank purchased a new position in 3M during the 4th quarter worth $140,000. Finally, Mascoma Wealth Management LLC grew its stake in 3M by 87.5% during the 3rd quarter. Mascoma Wealth Management LLC now owns 750 shares of the conglomerate’s stock worth $157,000 after buying an additional 350 shares during the last quarter. Hedge funds and other institutional investors own 66.89% of the company’s stock.

3M Co (NYSE MMM) traded down $3.28 during midday trading on Wednesday, hitting $234.29. The company had a trading volume of 2,238,531 shares, compared to its average volume of 2,830,000. 3M Co has a 52-week low of $188.62 and a 52-week high of $259.77. The stock has a market capitalization of $139,520.00, a price-to-earnings ratio of 25.55, a P/E/G ratio of 2.23 and a beta of 1.10. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.33 and a current ratio of 1.86.

3M (NYSE:MMM) last posted its quarterly earnings results on Thursday, January 25th. The conglomerate reported $2.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.03 by $0.07. The company had revenue of $7.99 billion during the quarter, compared to the consensus estimate of $7.85 billion. 3M had a net margin of 15.35% and a return on equity of 48.34%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period last year, the firm earned $1.88 EPS. equities analysts forecast that 3M Co will post 10.59 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 12th. Stockholders of record on Friday, February 16th were paid a dividend of $1.36 per share. The ex-dividend date of this dividend was Thursday, February 15th. This is a boost from 3M’s previous quarterly dividend of $0.01. This represents a $5.44 annualized dividend and a dividend yield of 2.32%. 3M’s payout ratio is currently 59.32%.

Several brokerages recently weighed in on MMM. Zacks Investment Research downgraded 3M from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Barclays assumed coverage on 3M in a research note on Thursday, February 15th. They issued an “underweight” rating and a $235.00 target price on the stock. Citigroup upped their price target on 3M from $268.00 to $278.00 and gave the stock a “buy” rating in a report on Tuesday, January 16th. UBS Group initiated coverage on 3M in a report on Tuesday, January 23rd. They set a “neutral” rating and a $262.00 target price for the company. Finally, Vetr upgraded 3M from a “hold” rating to a “buy” rating and set a $250.06 price target for the company in a research report on Monday, February 5th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $254.02.

In related news, EVP Frank R. Jr. Little sold 3,133 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $236.85, for a total transaction of $742,051.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Ippocratis Vrohidis sold 225 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $249.68, for a total transaction of $56,178.00. The disclosure for this sale can be found here. Insiders have sold a total of 52,806 shares of company stock valued at $13,162,628 over the last three months. Corporate insiders own 0.58% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This news story was posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The correct version of this news story can be read at

About 3M

3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, , appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.

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

Receive News & Ratings for 3M Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 3M and related companies with's FREE daily email newsletter.

Leave a Reply