SRH Advisors LLC Sells 2,000 Shares of 3M (NYSE:MMM)

SRH Advisors LLC trimmed its position in 3M (NYSE:MMM - Free Report) by 50.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,000 shares of the conglomerate's stock after selling 2,000 shares during the period. SRH Advisors LLC's holdings in 3M were worth $258,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Financial Life Planners bought a new position in shares of 3M during the 4th quarter valued at approximately $25,000. FSA Wealth Management LLC bought a new position in shares of 3M during the 3rd quarter valued at approximately $27,000. McClarren Financial Advisors Inc. grew its position in shares of 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 during the period. Daymark Wealth Partners LLC grew its position in shares of 3M by 9.0% during the 4th quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate's stock valued at $31,000 after acquiring an additional 19,552 shares during the period. Finally, ORG Partners LLC grew its position in shares of 3M by 44.1% during the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate's stock valued at $41,000 after acquiring an additional 98 shares during the period. 65.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MMM. Wells Fargo & Company raised shares of 3M from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. upped their price target on shares of 3M from $162.00 to $165.00 and gave the company an "overweight" rating in a research note on Wednesday, January 22nd. Barclays upped their price target on shares of 3M from $161.00 to $165.00 and gave the company an "overweight" rating in a research note on Wednesday, January 22nd. Royal Bank of Canada restated an "underperform" rating and set a $96.00 price target on shares of 3M in a research note on Wednesday, January 22nd. Finally, Citigroup upped their price target on shares of 3M from $142.00 to $152.00 and gave the company a "neutral" rating in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $148.87.

Insider Activity at 3M

In related news, CAO Theresa E. Reinseth sold 2,309 shares of the stock in a transaction on Friday, January 24th. The shares were sold at an average price of $149.95, for a total transaction of $346,234.55. Following the transaction, the chief accounting officer now owns 4,417 shares of the company's stock, valued at approximately $662,329.15. This trade represents a 34.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Victoria Clarke sold 1,750 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $154.22, for a total transaction of $269,885.00. Following the transaction, the executive vice president now directly owns 194 shares in the company, valued at approximately $29,918.68. This represents a 90.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,639 shares of company stock valued at $17,163,446. Insiders own 0.34% of the company's stock.

3M Price Performance

Shares of NYSE:MMM traded down $0.07 during trading on Friday, reaching $148.65. The company had a trading volume of 2,388,343 shares, compared to its average volume of 4,440,606. The company has a fifty day moving average of $138.80 and a two-hundred day moving average of $133.79. The stock has a market capitalization of $80.70 billion, a P/E ratio of 19.69, a price-to-earnings-growth ratio of 3.37 and a beta of 0.96. 3M has a 12 month low of $75.40 and a 12 month high of $155.00. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping analysts' consensus estimates of $1.66 by $0.02. The firm had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The business's revenue for the quarter was down 25.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.42 EPS. Equities research analysts forecast that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 14th will be issued a dividend of $0.73 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.92 annualized dividend and a dividend yield of 1.96%. This is a positive change from 3M's previous quarterly dividend of $0.70. 3M's dividend payout ratio (DPR) is currently 37.09%.

About 3M

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.