Ridgewood Investments LLC Has $1.35 Million Stock Holdings in 3M Co (NYSE:MMM)

Ridgewood Investments LLC decreased its position in 3M Co (NYSE:MMM) by 2.8% during the 4th quarter, Holdings Channel reports. The firm owned 7,639 shares of the conglomerate’s stock after selling 218 shares during the quarter. 3M makes up 1.0% of Ridgewood Investments LLC’s investment portfolio, making the stock its 17th biggest holding. Ridgewood Investments LLC’s holdings in 3M were worth $1,348,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of MMM. Kempen Capital Management N.V. acquired a new stake in shares of 3M during the second quarter worth approximately $25,000. 1 North Wealth Services LLC bought a new position in shares of 3M in the third quarter valued at approximately $26,000. Atwater Malick LLC bought a new position in shares of 3M in the third quarter valued at approximately $30,000. Bridger Capital Management LLC acquired a new position in shares of 3M in the 3rd quarter worth approximately $33,000. Finally, Kessler Investment Group LLC acquired a new position in 3M in the fourth quarter worth $35,000. 66.53% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE MMM traded down $1.47 during mid-day trading on Wednesday, hitting $179.90. The company had a trading volume of 1,061,249 shares, compared to its average volume of 2,522,313. The company has a market capitalization of $103.78 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 1.97 and a beta of 1.10. The firm has a 50-day simple moving average of $173.91 and a two-hundred day simple moving average of $168.43. The company has a current ratio of 2.30, a quick ratio of 1.79 and a debt-to-equity ratio of 1.68. 3M Co has a one year low of $150.58 and a one year high of $219.75.

3M (NYSE:MMM) last released its earnings results on Thursday, October 24th. The conglomerate reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.09. 3M had a return on equity of 54.02% and a net margin of 15.48%. The business had revenue of $7.99 billion for the quarter, compared to analyst estimates of $8.20 billion. During the same quarter in the prior year, the company posted $2.58 earnings per share. 3M’s revenue was down 2.0% on a year-over-year basis. Sell-side analysts expect that 3M Co will post 9.05 earnings per share for the current fiscal year.

Several equities analysts recently issued reports on the company. UBS Group cut 3M from a “neutral” rating to a “sell” rating and decreased their price target for the company from $180.00 to $160.00 in a report on Thursday, December 12th. Citigroup cut 3M from a “buy” rating to a “neutral” rating and set a $180.00 price objective for the company. in a report on Monday, December 9th. Barclays dropped their price objective on 3M from $162.00 to $158.00 and set an “underweight” rating for the company in a report on Thursday, October 3rd. JPMorgan Chase & Co. upgraded shares of 3M from an “underweight” rating to a “neutral” rating and upped their target price for the company from $143.00 to $150.00 in a research report on Monday, December 23rd. Finally, Morgan Stanley reduced their target price on shares of 3M from $177.00 to $173.00 and set an “equal weight” rating on the stock in a research note on Friday, September 27th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $174.08.

In other news, SVP Eric D. Hammes sold 1,341 shares of 3M stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $174.25, for a total value of $233,669.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Julie L. Bushman sold 6,879 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $165.09, for a total transaction of $1,135,654.11. Insiders have sold a total of 13,216 shares of company stock worth $2,233,940 in the last ninety days. Insiders own 0.83% of the company’s stock.

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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