Charles Schwab Trust Co Has $454,000 Stock Holdings in 3M (NYSE:MMM)

Charles Schwab Trust Co lessened its holdings in shares of 3M (NYSE:MMM) by 13.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 4,282 shares of the conglomerate’s stock after selling 639 shares during the period. Charles Schwab Trust Co’s holdings in 3M were worth $454,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Financial Synergies Wealth Advisors Inc. raised its holdings in 3M by 419.1% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock valued at $26,000 after acquiring an additional 197 shares in the last quarter. Northwest Investment Counselors LLC acquired a new position in 3M in the 1st quarter valued at approximately $32,000. Livelsberger Financial Advisory acquired a new position in 3M in the 4th quarter valued at approximately $35,000. CGC Financial Services LLC raised its holdings in 3M by 89.9% in the 4th quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock valued at $37,000 after acquiring an additional 160 shares in the last quarter. Finally, VisionPoint Advisory Group LLC raised its holdings in 3M by 91.9% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate’s stock valued at $42,000 after acquiring an additional 215 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on MMM. Mizuho reaffirmed a “neutral” rating and issued a $105.00 price target on shares of 3M in a report on Wednesday, March 27th. Citigroup upped their price objective on 3M from $98.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Bank of America upgraded 3M from a “neutral” rating to a “buy” rating and upped their price objective for the company from $105.00 to $120.00 in a research note on Friday, June 7th. HSBC upgraded 3M from a “hold” rating to a “buy” rating and upped their price objective for the company from $91.13 to $115.00 in a research note on Friday, May 10th. Finally, UBS Group upped their price objective on 3M from $98.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, 3M has a consensus rating of “Hold” and a consensus target price of $111.58.

3M Stock Down 0.9 %

Shares of MMM opened at $102.04 on Wednesday. The company has a current ratio of 1.64, a quick ratio of 1.27 and a debt-to-equity ratio of 4.17. The business’s fifty day moving average price is $98.59 and its two-hundred day moving average price is $99.24. 3M has a 52 week low of $71.12 and a 52 week high of $106.04.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.29. The company had revenue of $8 billion for the quarter, compared to the consensus estimate of $7.64 billion. 3M had a positive return on equity of 95.80% and a negative net margin of 21.57%. During the same quarter in the prior year, the business posted $1.97 EPS. As a group, equities analysts forecast that 3M will post 7.09 EPS for the current year.

3M Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 24th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend was Thursday, May 23rd. 3M’s dividend payout ratio (DPR) is currently -22.01%.

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.