Camelot Portfolios LLC Sells 4,030 Shares of 3M (NYSE:MMM)

Camelot Portfolios LLC decreased its stake in shares of 3M (NYSE:MMM - Free Report) by 40.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,850 shares of the conglomerate's stock after selling 4,030 shares during the period. Camelot Portfolios LLC's holdings in 3M were worth $755,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Financial Life Planners bought a new position in shares of 3M during the fourth quarter worth about $25,000. FSA Wealth Management LLC bought a new position in 3M in the 3rd quarter valued at about $27,000. Daymark Wealth Partners LLC increased its stake in shares of 3M by 9.0% during the fourth 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. ORG Partners LLC lifted its holdings in shares of 3M by 44.1% in the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate's stock valued at $41,000 after buying an additional 98 shares during the period. Finally, True Wealth Design LLC grew its stake in shares of 3M by 2,466.7% in the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate's stock worth $42,000 after purchasing an additional 296 shares during the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at 3M

In related news, CAO Theresa E. Reinseth sold 2,309 shares of 3M stock in a transaction on Friday, January 24th. The stock was sold at an average price of $149.95, for a total transaction of $346,234.55. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the firm's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $150.25, for a total value of $247,161.25. Following the transaction, the insider now directly owns 5,153 shares in the company, valued at approximately $774,238.25. This represents a 24.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,639 shares of company stock valued at $17,163,446 over the last ninety days. 0.34% of the stock is currently owned by insiders.

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Analysts Set New Price Targets

MMM has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of 3M in a research note on Wednesday, February 19th. Barclays raised their price objective on shares of 3M from $161.00 to $165.00 and gave the company an "overweight" rating in a research report on Wednesday, January 22nd. Royal Bank of Canada reissued an "underperform" rating and issued a $96.00 price objective on shares of 3M in a research note on Wednesday, January 22nd. Citigroup boosted their target price on shares of 3M from $142.00 to $152.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of 3M from $162.00 to $165.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $148.87.

3M Price Performance

NYSE MMM traded up $0.85 during trading on Wednesday, hitting $147.39. 5,782,180 shares of the company's stock were exchanged, compared to its average volume of 3,973,578. 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 has a fifty-two week low of $75.40 and a fifty-two week high of $155.00. The company has a market cap of $80.02 billion, a PE ratio of 19.52, a P/E/G ratio of 3.30 and a beta of 0.96. The stock's 50 day moving average price is $141.31 and its two-hundred day moving average price is $135.01.

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

3M Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th will be given a dividend of $0.73 per share. The ex-dividend date is Friday, February 14th. This is an increase from 3M's previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a dividend yield of 1.98%. 3M's payout ratio is presently 38.68%.

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.