Calamos Wealth Management LLC Sells 925 Shares of 3M (NYSE:MMM)

Calamos Wealth Management LLC cut its stake in 3M (NYSE:MMM) by 28.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,311 shares of the conglomerate’s stock after selling 925 shares during the period. Calamos Wealth Management LLC’s holdings in 3M were worth $253,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MMM. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in 3M by 15.4% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 110,988 shares of the conglomerate’s stock valued at $10,391,000 after buying an additional 14,775 shares during the period. Cornerstone Wealth Group LLC acquired a new position in shares of 3M during the third quarter worth approximately $3,855,000. Shoker Investment Counsel Inc. raised its position in shares of 3M by 49.7% during the third quarter. Shoker Investment Counsel Inc. now owns 16,747 shares of the conglomerate’s stock worth $1,568,000 after purchasing an additional 5,561 shares during the period. Diversified Trust Co raised its position in shares of 3M by 1.4% during the fourth quarter. Diversified Trust Co now owns 18,487 shares of the conglomerate’s stock worth $2,021,000 after purchasing an additional 263 shares during the period. Finally, MWA Asset Management acquired a new position in shares of 3M during the fourth quarter worth approximately $1,723,000. 65.25% of the stock is currently owned by institutional investors.

3M Trading Up 0.9 %

NYSE MMM opened at $92.27 on Monday. The firm has a market capitalization of $51.06 billion, a P/E ratio of -7.31, a PEG ratio of 1.63 and a beta of 1.02. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 2.69. The business has a fifty day simple moving average of $95.76 and a 200 day simple moving average of $97.36. 3M has a 12 month low of $71.12 and a 12 month high of $95.67.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.11. The firm had revenue of $8.01 billion during the quarter, compared to the consensus estimate of $7.69 billion. 3M had a positive return on equity of 62.45% and a negative net margin of 21.40%. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.28 EPS. On average, analysts predict that 3M will post 8.79 EPS for the current fiscal year.

3M Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 6.55%. The ex-dividend date of this dividend was Thursday, February 15th. This is an increase from 3M’s previous quarterly dividend of $1.50. 3M’s dividend payout ratio is -47.82%.

Wall Street Analyst Weigh In

MMM has been the topic of a number of research reports. Barclays lowered their target price on 3M from $126.00 to $107.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 2nd. Bank of America lowered their target price on 3M from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. lowered their target price on 3M from $118.00 to $110.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. StockNews.com raised 3M from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 16th. Finally, Royal Bank of Canada lowered their price target on 3M from $84.00 to $78.00 and set an “underperform” rating for the company in a research report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $104.00.

Insider Buying and Selling at 3M

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total transaction of $39,328.32. Following the completion of the transaction, the insider now owns 3,966 shares in the company, valued at approximately $366,141.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.38% 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.