D.A. Davidson & CO. Has $16.94 Million Position in 3M (NYSE:MMM)

D.A. Davidson & CO. reduced its holdings in shares of 3M (NYSE:MMM - Free Report) by 10.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 131,212 shares of the conglomerate's stock after selling 15,121 shares during the quarter. D.A. Davidson & CO.'s holdings in 3M were worth $16,938,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Gilbert & Cook Inc. grew its position in 3M by 1.5% in the fourth quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate's stock valued at $659,000 after acquiring an additional 73 shares during the period. Childress Capital Advisors LLC grew its holdings in shares of 3M by 5.1% during the fourth quarter. Childress Capital Advisors LLC now owns 1,573 shares of the conglomerate's stock worth $203,000 after purchasing an additional 76 shares during the last quarter. Wynn Capital LLC grew its holdings in shares of 3M by 0.7% during the fourth quarter. Wynn Capital LLC now owns 11,690 shares of the conglomerate's stock worth $1,509,000 after purchasing an additional 80 shares during the last quarter. Harbour Investments Inc. grew its holdings in shares of 3M by 0.8% during the third quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate's stock worth $1,443,000 after purchasing an additional 81 shares during the last quarter. Finally, William Allan Corp grew its holdings in shares of 3M by 1.4% during the fourth quarter. William Allan Corp now owns 5,959 shares of the conglomerate's stock worth $769,000 after purchasing an additional 82 shares during the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

3M Stock Down 2.8 %

Shares of NYSE:MMM traded down $4.21 during mid-day trading on Friday, reaching $144.87. 4,278,493 shares of the stock were exchanged, compared to its average volume of 3,924,529. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The company has a market cap of $78.65 billion, a P/E ratio of 19.19, a P/E/G ratio of 3.32 and a beta of 0.96. 3M has a one year low of $75.40 and a one year high of $155.00. The stock's 50 day simple moving average is $140.32 and its 200-day simple moving average is $134.41.

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

3M Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th will be paid a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 2.02%. This is an increase from 3M's previous quarterly dividend of $0.70. The ex-dividend date is Friday, February 14th. 3M's dividend payout ratio (DPR) is currently 38.68%.

Insider Buying and Selling at 3M

In other 3M news, EVP Victoria Clarke sold 1,750 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $154.22, for a total value of $269,885.00. Following the completion of the transaction, the executive vice president now directly owns 194 shares in the company, valued at $29,918.68. This trade represents a 90.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the firm's stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $149.43, for a total value of $944,098.74. Following the completion of the transaction, the insider now owns 5,024 shares of the company's stock, valued at approximately $750,736.32. This represents a 55.70 % 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 worth $17,163,446 over the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on MMM shares. JPMorgan Chase & Co. increased their target price on 3M from $162.00 to $165.00 and gave the stock an "overweight" rating in a report on Wednesday, January 22nd. Wells Fargo & Company upgraded 3M from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $140.00 to $170.00 in a report on Wednesday, January 22nd. Bank of America increased their target price on 3M from $160.00 to $175.00 and gave the stock a "buy" rating in a report on Wednesday, January 22nd. Barclays upped their price target on 3M from $161.00 to $165.00 and gave the company an "overweight" rating in a research note on Wednesday, January 22nd. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of 3M in a research note on Wednesday. Two analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $148.87.

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.