Baird Financial Group Inc. Has $26.05 Million Stock Holdings in 3M Company $MMM

Baird Financial Group Inc. decreased its holdings in shares of 3M Company (NYSE:MMM) by 6.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 171,094 shares of the conglomerate’s stock after selling 11,051 shares during the quarter. Baird Financial Group Inc.’s holdings in 3M were worth $26,047,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Farmers & Merchants Investments Inc. boosted its position in shares of 3M by 0.4% in the second quarter. Farmers & Merchants Investments Inc. now owns 16,920 shares of the conglomerate’s stock valued at $2,576,000 after acquiring an additional 72 shares during the period. Warwick Investment Management Inc. raised its stake in 3M by 2.3% during the 1st quarter. Warwick Investment Management Inc. now owns 3,573 shares of the conglomerate’s stock valued at $525,000 after purchasing an additional 80 shares during the last quarter. Pinnacle Wealth Planning Services Inc. raised its stake in 3M by 4.7% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 1,834 shares of the conglomerate’s stock valued at $269,000 after purchasing an additional 83 shares during the last quarter. McAdam LLC boosted its holdings in 3M by 1.9% in the 1st quarter. McAdam LLC now owns 4,722 shares of the conglomerate’s stock valued at $693,000 after purchasing an additional 87 shares during the period. Finally, AIMZ Investment Advisors LLC grew its position in 3M by 2.0% in the 1st quarter. AIMZ Investment Advisors LLC now owns 4,743 shares of the conglomerate’s stock worth $697,000 after purchasing an additional 95 shares during the last quarter. 65.25% of the stock is owned by institutional investors.

3M Stock Down 1.0%

Shares of NYSE MMM opened at $167.52 on Friday. 3M Company has a 52-week low of $121.98 and a 52-week high of $174.69. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.40 and a current ratio of 1.84. The business has a fifty day moving average of $163.39 and a two-hundred day moving average of $155.92. The stock has a market cap of $88.99 billion, a PE ratio of 26.76, a PEG ratio of 2.60 and a beta of 1.08.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, February 21st. The conglomerate reported $2.45 earnings per share (EPS) for the quarter. The firm had revenue of $8.38 billion during the quarter. 3M had a net margin of 13.70% and a return on equity of 98.47%. As a group, equities research analysts expect that 3M Company will post 7.8 earnings per share for the current fiscal year.

3M Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 14th will be given a dividend of $0.73 per share. The ex-dividend date is Friday, November 14th. This represents a $2.92 dividend on an annualized basis and a yield of 1.7%. 3M’s dividend payout ratio is 46.65%.

Wall Street Analysts Forecast Growth

MMM has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of 3M in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft upped their price target on 3M from $177.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. UBS Group lifted their price objective on 3M from $184.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Wolfe Research boosted their price objective on 3M from $187.00 to $197.00 and gave the company an “outperform” rating in a research report on Thursday, November 13th. Finally, Royal Bank Of Canada raised their target price on 3M from $120.00 to $130.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 22nd. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $176.10.

Insiders Place Their Bets

In other 3M news, EVP Zoe L. Dickson sold 13,826 shares of 3M stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $169.78, for a total value of $2,347,378.28. Following the completion of the transaction, the executive vice president owned 6,162 shares in the company, valued at approximately $1,046,184.36. The trade was a 69.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mark W. Murphy sold 19,061 shares of the stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $166.55, for a total value of $3,174,609.55. Following the sale, the executive vice president owned 6,594 shares in the company, valued at $1,098,230.70. The trade was a 74.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 46,516 shares of company stock valued at $7,836,465 over the last ninety days. Insiders own 0.34% of the company’s stock.

3M Company 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.