Claro Advisors LLC Sells 10,755 Shares of 3M (NYSE:MMM)

Claro Advisors LLC trimmed its stake in 3M (NYSE:MMM - Free Report) by 78.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,980 shares of the conglomerate's stock after selling 10,755 shares during the quarter. Claro Advisors LLC's holdings in 3M were worth $385,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FSA Wealth Management LLC bought a new stake in 3M in the 3rd quarter valued at about $27,000. Daymark Wealth Partners LLC grew its stake in 3M by 8.6% in the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate's stock valued at $30,000 after buying an additional 17,211 shares in the last quarter. McClarren Financial Advisors Inc. raised its holdings in 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. ORG Partners LLC lifted its position in shares of 3M by 44.1% during the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate's stock worth $41,000 after acquiring an additional 98 shares in the last quarter. Finally, True Wealth Design LLC boosted its holdings in shares of 3M by 2,466.7% in the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate's stock worth $42,000 after acquiring an additional 296 shares during the period. 65.25% of the stock is owned by institutional investors.

3M Trading Up 2.0 %

MMM stock opened at $137.35 on Wednesday. The company has a market capitalization of $74.80 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 2.15 and a beta of 0.95. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43. 3M has a one year low of $75.40 and a one year high of $141.34. The company's 50 day moving average price is $130.90 and its two-hundred day moving average price is $127.12.

3M (NYSE:MMM - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, topping analysts' consensus estimates of $1.93 by $0.05. 3M had a net margin of 15.37% and a return on equity of 104.66%. The company had revenue of $6.29 billion for the quarter, compared to analysts' expectations of $6.06 billion. During the same quarter last year, the company earned $2.68 EPS. The firm's revenue was down 24.3% compared to the same quarter last year. As a group, analysts predict that 3M will post 7.27 earnings per share for the current fiscal year.

3M Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.04%. The ex-dividend date was Friday, November 15th. 3M's dividend payout ratio is presently 35.35%.

Analyst Upgrades and Downgrades

MMM has been the subject of a number of recent analyst reports. Bank of America lifted their target price on 3M from $143.00 to $160.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Royal Bank of Canada decreased their target price on shares of 3M from $100.00 to $96.00 and set an "underperform" rating on the stock in a report on Friday, January 3rd. UBS Group raised shares of 3M from a "neutral" rating to a "buy" rating and raised their price target for the company from $130.00 to $184.00 in a report on Wednesday, November 13th. JPMorgan Chase & Co. boosted their price target on shares of 3M from $160.00 to $165.00 and gave the company an "overweight" rating in a research report on Monday, October 28th. Finally, Barclays dropped their price objective on 3M from $165.00 to $161.00 and set an "overweight" rating for the company in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $144.33.

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.