3M (NYSE:MMM) Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co reduced its position in 3M (NYSE:MMM - Free Report) by 4.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,133 shares of the conglomerate's stock after selling 2,358 shares during the period. Elo Mutual Pension Insurance Co's holdings in 3M were worth $6,472,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Financial Life Planners purchased a new stake in shares of 3M in the 4th quarter worth about $25,000. Proficio Capital Partners LLC acquired a new stake in shares of 3M in the fourth quarter valued at approximately $26,000. FSA Wealth Management LLC acquired a new stake in shares of 3M in the third quarter valued at approximately $27,000. Daymark Wealth Partners LLC increased its stake 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 worth $31,000 after purchasing an additional 19,552 shares in the last quarter. Finally, ORG Partners LLC raised 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 worth $41,000 after purchasing an additional 98 shares during the last quarter. 65.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MMM. Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a research report on Saturday, March 22nd. Barclays lifted their price objective on 3M from $161.00 to $165.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 22nd. Citigroup boosted their target price 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. Wells Fargo & Company raised shares of 3M from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of 3M from $162.00 to $165.00 and gave the company 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. According to MarketBeat, 3M presently has an average rating of "Moderate Buy" and a consensus price target of $149.13.

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3M Trading Down 2.5 %

Shares of 3M stock traded down $3.70 during trading hours on Friday, reaching $144.74. The stock had a trading volume of 2,581,499 shares, compared to its average volume of 4,133,279. The firm has a market capitalization of $78.58 billion, a price-to-earnings ratio of 19.17, a P/E/G ratio of 3.30 and a beta of 0.97. 3M has a 1 year low of $88.23 and a 1 year high of $156.35. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. The firm has a 50 day simple moving average of $149.60 and a two-hundred day simple moving average of $138.23.

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

3M Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 2.02%. This is a boost from 3M's previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, February 14th. 3M's dividend payout ratio is 38.68%.

Insider Activity at 3M

In other 3M news, insider Christian T. Goralski, Jr. sold 6,318 shares of the company's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $149.43, for a total value of $944,098.74. Following the transaction, the insider now directly owns 5,024 shares of the company's stock, valued at $750,736.32. This represents a 55.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Michael F. Roman sold 45,276 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $150.01, for a total transaction of $6,791,852.76. Following the transaction, the chairman now directly owns 175,718 shares in the company, valued at $26,359,457.18. The trade was a 20.49 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 113,639 shares of company stock worth $17,163,446. Corporate insiders own 0.34% of the company's stock.

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.