Atria Investments Inc Sells 2,644 Shares of 3M (NYSE:MMM)

Atria Investments Inc lessened its holdings in shares of 3M (NYSE:MMM - Free Report) by 9.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,761 shares of the conglomerate's stock after selling 2,644 shares during the period. Atria Investments Inc's holdings in 3M were worth $3,196,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. D.A. Davidson & CO. lifted its stake in 3M by 16.2% in the 3rd quarter. D.A. Davidson & CO. now owns 146,333 shares of the conglomerate's stock valued at $20,004,000 after acquiring an additional 20,421 shares in the last quarter. Franklin Resources Inc. lifted its stake in 3M by 26.8% in the 3rd quarter. Franklin Resources Inc. now owns 845,401 shares of the conglomerate's stock valued at $114,770,000 after acquiring an additional 178,450 shares in the last quarter. Meyer Handelman Co. lifted its stake in 3M by 1.4% in the 4th quarter. Meyer Handelman Co. now owns 197,618 shares of the conglomerate's stock valued at $25,511,000 after acquiring an additional 2,678 shares in the last quarter. FMR LLC lifted its stake in 3M by 88.7% in the 3rd quarter. FMR LLC now owns 8,961,866 shares of the conglomerate's stock valued at $1,225,087,000 after acquiring an additional 4,212,409 shares in the last quarter. Finally, USA Financial Formulas acquired a new position in shares of 3M during the 4th quarter worth approximately $816,000. Institutional investors own 65.25% of the company's stock.

3M Stock Down 0.4 %

Shares of MMM stock traded down $0.59 during trading hours on Friday, reaching $146.36. The company had a trading volume of 5,891,015 shares, compared to its average volume of 4,315,292. 3M has a 12 month low of $78.14 and a 12 month high of $156.35. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The business has a fifty day simple moving average of $144.51 and a 200-day simple moving average of $136.23. The company has a market cap of $79.46 billion, a price-to-earnings ratio of 19.38, a price-to-earnings-growth ratio of 3.30 and a beta of 0.97.

Remove Ads

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. 3M had a return on equity of 100.77% and a net margin of 15.71%. The business had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.77 billion. During the same period last year, the company posted $2.42 earnings per share. 3M's quarterly revenue was down 25.0% compared to the same quarter last year. On average, research analysts expect that 3M will post 7.8 earnings per share for the current fiscal 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 given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 2.00%. This is a boost from 3M's previous quarterly dividend of $0.70. The ex-dividend date is Friday, February 14th. 3M's payout ratio is presently 38.68%.

Insider Buying and Selling

In other 3M news, EVP Victoria Clarke sold 1,750 shares of 3M stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $154.22, for a total transaction of $269,885.00. Following the completion of the sale, the executive vice president now owns 194 shares of the company's stock, valued at $29,918.68. The trade was a 90.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of 3M stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $149.43, for a total value of $944,098.74. Following the sale, the insider now directly owns 5,024 shares of the company's stock, valued at approximately $750,736.32. This trade represents a 55.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,639 shares of company stock worth $17,163,446 over the last ninety days. 0.34% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MMM. UBS Group raised 3M from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $130.00 to $184.00 in a report on Wednesday, November 13th. Bank of America increased their target price on 3M from $175.00 to $179.00 and gave the company a "buy" rating in a research report on Thursday. Wells Fargo & Company upgraded 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. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a research note on Friday. Finally, Barclays raised their target price on 3M from $161.00 to $165.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $149.13.

3M 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.