3M Company $MMM Stock Holdings Decreased by First National Bank & Trust Co. of Newtown

First National Bank & Trust Co. of Newtown cut its holdings in 3M Company (NYSE:MMM) by 4.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 11,987 shares of the conglomerate’s stock after selling 575 shares during the period. First National Bank & Trust Co. of Newtown’s holdings in 3M were worth $1,825,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of MMM. Brighton Jones LLC boosted its holdings in shares of 3M by 26.6% in the 4th quarter. Brighton Jones LLC now owns 8,898 shares of the conglomerate’s stock valued at $1,149,000 after buying an additional 1,872 shares during the period. Bison Wealth LLC boosted its stake in 3M by 10.2% during the 4th quarter. Bison Wealth LLC now owns 2,751 shares of the conglomerate’s stock valued at $355,000 after purchasing an additional 255 shares during the period. Merit Financial Group LLC boosted its stake in 3M by 43.8% during the 1st quarter. Merit Financial Group LLC now owns 25,887 shares of the conglomerate’s stock valued at $3,802,000 after purchasing an additional 7,883 shares during the period. RFG Advisory LLC boosted its stake in 3M by 177.7% during the 1st quarter. RFG Advisory LLC now owns 8,324 shares of the conglomerate’s stock valued at $1,223,000 after purchasing an additional 5,326 shares during the period. Finally, Peak Financial Advisors LLC boosted its stake in 3M by 0.4% during the 1st quarter. Peak Financial Advisors LLC now owns 22,486 shares of the conglomerate’s stock valued at $3,302,000 after purchasing an additional 90 shares during the period. 65.25% of the stock is owned by institutional investors and hedge funds.

3M Stock Performance

Shares of MMM opened at $155.90 on Thursday. The company’s 50 day moving average price is $154.06 and its 200 day moving average price is $148.52. 3M Company has a 52 week low of $121.98 and a 52 week high of $164.15. The company has a market capitalization of $83.04 billion, a PE ratio of 21.68, a PEG ratio of 2.82 and a beta of 1.05. The company has a debt-to-equity ratio of 2.87, a quick ratio of 1.20 and a current ratio of 1.72.

3M (NYSE:MMM) last announced its quarterly earnings data on Friday, July 18th. The conglomerate reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.15. The firm had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.09 billion. 3M had a net margin of 16.01% and a return on equity of 96.48%. The firm’s revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.93 earnings per share. Research analysts expect that 3M Company will post 7.8 EPS for the current fiscal year.

3M Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Monday, August 25th were given a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Monday, August 25th. 3M’s payout ratio is currently 40.61%.

Analysts Set New Price Targets

A number of research analysts have issued reports on MMM shares. Wells Fargo & Company reissued an “overweight” rating on shares of 3M in a research note on Friday, July 18th. Weiss Ratings upgraded shares of 3M from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday, September 27th. Barclays set a $170.00 price target on shares of 3M in a research report on Friday, July 18th. Finally, JPMorgan Chase & Co. set a $167.00 price target on shares of 3M in a research report on Friday, July 18th. Seven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $161.78.

Insider Activity at 3M

In other 3M news, CAO Theresa E. Reinseth sold 3,477 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $150.63, for a total value of $523,740.51. Following the completion of the sale, the chief accounting officer directly owned 2,561 shares of the company’s stock, valued at $385,763.43. The trade was a 57.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Christian T. Goralski, Jr. sold 6,165 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $150.18, for a total transaction of $925,859.70. Following the completion of the sale, the insider directly owned 2,900 shares of the company’s stock, valued at $435,522. This represents a 68.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.