MAS Advisors LLC Cuts Holdings in 3M Company $MMM

MAS Advisors LLC trimmed its holdings in shares of 3M Company (NYSE:MMM) by 6.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,686 shares of the conglomerate’s stock after selling 170 shares during the period. MAS Advisors LLC’s holdings in 3M were worth $394,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Northern Trust Corp raised its stake in shares of 3M by 12.6% during the 4th quarter. Northern Trust Corp now owns 6,752,944 shares of the conglomerate’s stock worth $871,738,000 after buying an additional 755,155 shares in the last quarter. Invesco Ltd. raised its stake in shares of 3M by 0.7% during the 1st quarter. Invesco Ltd. now owns 4,498,809 shares of the conglomerate’s stock worth $660,695,000 after buying an additional 30,260 shares in the last quarter. Bank of America Corp DE raised its stake in shares of 3M by 4.2% during the 4th quarter. Bank of America Corp DE now owns 4,270,238 shares of the conglomerate’s stock worth $551,245,000 after buying an additional 172,815 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of 3M by 5.7% in the 4th quarter. Janus Henderson Group PLC now owns 3,624,933 shares of the conglomerate’s stock worth $467,944,000 after acquiring an additional 193,957 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in 3M by 6.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,122,020 shares of the conglomerate’s stock valued at $458,500,000 after purchasing an additional 199,944 shares in the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.

3M Trading Down 0.3%

NYSE:MMM opened at $154.3420 on Friday. 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 Company has a one year low of $121.98 and a one year high of $164.15. The business’s 50-day simple moving average is $151.67 and its 200 day simple moving average is $147.25. The stock has a market cap of $82.21 billion, a price-to-earnings ratio of 21.47, a price-to-earnings-growth ratio of 2.99 and a beta of 1.05.

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

3M Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Monday, August 25th will be issued a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 1.9%. 3M’s dividend payout ratio is currently 40.61%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MMM shares. JPMorgan Chase & Co. set a $167.00 price objective on 3M in a research note on Friday, July 18th. Barclays set a $170.00 price objective on 3M in a research note on Friday, July 18th. Citigroup increased their target price on 3M from $141.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, May 30th. Wells Fargo & Company reissued an “overweight” rating on shares of 3M in a research report on Friday, July 18th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of 3M in a research report on Thursday, August 14th. Seven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $158.10.

Insider Activity

In related news, insider Christian T. Goralski, Jr. sold 6,165 shares of the business’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $150.18, for a total value 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. The trade was a 68.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Theresa E. Reinseth sold 3,477 shares of the business’s stock in a transaction dated 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 approximately $385,763.43. This represents a 57.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by 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.