Mather Group LLC. Decreases Stock Holdings in 3M (NYSE:MMM)

Mather Group LLC. reduced its position in shares of 3M (NYSE:MMMFree Report) by 72.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,402 shares of the conglomerate’s stock after selling 3,633 shares during the period. Mather Group LLC.’s holdings in 3M were worth $192,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Tributary Capital Management LLC bought a new stake in shares of 3M in the 1st quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. boosted its holdings in 3M by 419.1% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock valued at $26,000 after acquiring an additional 197 shares in the last quarter. MFA Wealth Advisors LLC purchased a new position in 3M during the 2nd quarter valued at $28,000. Meeder Asset Management Inc. raised its holdings in 3M by 689.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 269 shares in the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of 3M in the 1st quarter worth about $32,000. 65.25% of the stock is owned by institutional investors.

3M Stock Up 1.0 %

Shares of 3M stock opened at $134.75 on Friday. The company has a 50-day simple moving average of $131.53 and a two-hundred day simple moving average of $111.44. 3M has a 52-week low of $71.12 and a 52-week high of $140.72. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.08 and a current ratio of 1.36. The stock has a market capitalization of $74.57 billion, a PE ratio of -10.59, a price-to-earnings-growth ratio of 2.49 and a beta of 0.95.

3M (NYSE:MMMGet Free Report) last issued its earnings results on Friday, July 26th. The conglomerate reported $1.93 EPS for the quarter, beating the consensus estimate of $1.68 by $0.25. The business had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $5.85 billion. 3M had a return on equity of 112.92% and a net margin of 3.08%. During the same period last year, the business posted $2.17 EPS. On average, analysts anticipate that 3M will post 7.24 EPS for the current fiscal year.

3M Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 26th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend was Monday, August 26th. 3M’s dividend payout ratio (DPR) is -22.01%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Bank of America boosted their price target on shares of 3M from $120.00 to $143.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Morgan Stanley initiated coverage on 3M in a report on Friday, September 6th. They set an “underweight” rating and a $125.00 target price on the stock. Argus upgraded 3M from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised 3M from a “hold” rating to a “buy” rating and upped their price target for the stock from $110.00 to $150.00 in a research note on Monday, July 29th. Finally, Barclays raised their price objective on 3M from $145.00 to $160.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, 3M has a consensus rating of “Hold” and a consensus price target of $127.64.

Get Our Latest Analysis on 3M

Insider Buying and Selling at 3M

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

3M Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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