YHB Investment Advisors Inc. Has $690,000 Stake in 3M (NYSE:MMM)

YHB Investment Advisors Inc. cut its stake in 3M (NYSE:MMM) by 3.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,044 shares of the conglomerate’s stock after selling 167 shares during the quarter. YHB Investment Advisors Inc.’s holdings in 3M were worth $690,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. McClarren Financial Advisors Inc. lifted its stake in 3M by 118.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 121 shares in the last quarter. Tributary Capital Management LLC bought a new position in shares of 3M during the first quarter valued at about $25,000. MFA Wealth Advisors LLC purchased a new position in 3M during the second quarter worth about $28,000. Meeder Asset Management Inc. increased its stake in 3M by 689.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock valued at $31,000 after buying an additional 269 shares during the last quarter. Finally, TruNorth Capital Management LLC bought a new position in shares of 3M during the 2nd quarter worth approximately $33,000. Institutional investors own 65.25% of the company’s stock.

Insider Activity at 3M

In related news, Chairman Michael F. Roman sold 5,675 shares of 3M stock in a transaction on Wednesday, August 7th. The shares were 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 $21,486,484.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Chairman Michael F. Roman sold 5,675 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total value of $700,635.50. Following the completion of the sale, the chairman now directly owns 174,036 shares of the company’s stock, valued at approximately $21,486,484.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Theresa E. Reinseth sold 2,100 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total transaction of $260,652.00. Following the transaction, the chief financial officer now owns 4,364 shares in the company, valued at $541,659.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently commented on MMM shares. Melius raised 3M from a “hold” rating to a “buy” rating in a research report on Tuesday. Royal Bank of Canada lifted their target price on 3M from $99.00 to $100.00 and gave the stock an “underperform” rating in a research note on Wednesday. Barclays increased their price target on shares of 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday. Morgan Stanley assumed coverage on shares of 3M in a research report on Friday, September 6th. They issued an “underweight” rating and a $125.00 price objective on the stock. Finally, Citigroup increased their target price on shares of 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $135.67.

3M Trading Down 1.1 %

Shares of MMM opened at $126.44 on Friday. 3M has a fifty-two week low of $72.47 and a fifty-two week high of $141.34. The firm has a market cap of $69.97 billion, a price-to-earnings ratio of -9.94, a PEG ratio of 2.49 and a beta of 0.95. The firm has a 50 day moving average price of $133.07 and a 200-day moving average price 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 (NYSE:MMM) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.05. The business had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.06 billion. 3M had a return on equity of 112.92% and a net margin of 3.08%. 3M’s revenue for the quarter was down 24.3% compared to the same quarter last year. During the same period last year, the company earned $2.68 EPS. As a group, equities research analysts forecast that 3M will post 7.24 earnings per share for the current year.

3M Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were given a $0.70 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.21%. 3M’s dividend payout ratio is currently -22.01%.

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.