3M (NYSE:MMM) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC decreased its position in 3M (NYSE:MMM) by 8.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 107,559 shares of the conglomerate’s stock after selling 9,507 shares during the quarter. Private Advisor Group LLC’s holdings in 3M were worth $14,715,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. CVA Family Office LLC increased its holdings in shares of 3M by 1.9% in the 3rd quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate’s stock valued at $571,000 after acquiring an additional 79 shares during the last quarter. Fortis Capital Advisors LLC boosted its holdings in 3M by 2.9% in the second quarter. Fortis Capital Advisors LLC now owns 3,001 shares of the conglomerate’s stock valued at $307,000 after purchasing an additional 84 shares in the last quarter. KMG Fiduciary Partners LLC increased its stake in 3M by 0.5% in the third quarter. KMG Fiduciary Partners LLC now owns 16,186 shares of the conglomerate’s stock valued at $2,213,000 after purchasing an additional 84 shares during the last quarter. Raleigh Capital Management Inc. raised its holdings in 3M by 2.9% during the third quarter. Raleigh Capital Management Inc. now owns 3,038 shares of the conglomerate’s stock worth $415,000 after purchasing an additional 87 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its position in shares of 3M by 0.4% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 22,613 shares of the conglomerate’s stock worth $2,311,000 after buying an additional 97 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Bank of America lifted their price target on shares of 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday. Melius upgraded 3M from a “hold” rating to a “buy” rating in a research report on Tuesday. Citigroup boosted their target price on 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Barclays raised their price target on 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft upgraded 3M from a “hold” rating to a “buy” rating and boosted their price objective for the company from $110.00 to $150.00 in a research note on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $135.67.

3M Stock Down 2.9 %

Shares of 3M stock opened at $127.91 on Thursday. The company has a market cap of $70.78 billion, a P/E ratio of -10.06, a PEG ratio of 2.49 and a beta of 0.95. The firm has a fifty day moving average of $133.07 and a two-hundred day moving average of $113.57. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.08 and a current ratio of 1.36. 3M has a one year low of $72.47 and a one year high of $141.34.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.05. 3M had a net margin of 3.08% and a return on equity of 112.92%. The firm had revenue of $6.29 billion during the quarter, compared to the consensus estimate of $6.06 billion. During the same quarter last year, the firm earned $2.68 earnings per share. The firm’s revenue was down 24.3% compared to the same quarter last year. On average, analysts forecast that 3M will post 7.24 earnings per share for the current year.

3M Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 26th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend was Monday, August 26th. 3M’s dividend payout ratio is presently -22.01%.

Insiders Place Their Bets

In other news, Chairman Michael F. Roman sold 5,675 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total transaction of $700,635.50. Following the transaction, the chairman now directly owns 174,036 shares of the company’s stock, valued at $21,486,484.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Theresa E. Reinseth sold 2,100 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total value of $260,652.00. Following the completion of the transaction, the chief financial officer now directly owns 4,364 shares of the company’s stock, valued at $541,659.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Michael F. Roman sold 5,675 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total value of $700,635.50. Following the sale, the chairman now owns 174,036 shares in the company, valued at approximately $21,486,484.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

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.