3M (NYSE:MMM) Shares Sold by F M Investments LLC

F M Investments LLC decreased its holdings in shares of 3M (NYSE:MMM - Free Report) by 26.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,811 shares of the conglomerate's stock after selling 6,518 shares during the period. F M Investments LLC's holdings in 3M were worth $2,299,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of MMM. Financial Life Planners purchased a new position in 3M in the fourth quarter worth $25,000. Proficio Capital Partners LLC acquired a new stake in shares of 3M in the fourth quarter valued at about $26,000. Hazlett Burt & Watson Inc. purchased a new stake in 3M during the fourth quarter worth about $27,000. Daymark Wealth Partners LLC increased its holdings in 3M by 9.0% in the fourth quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate's stock valued at $31,000 after buying an additional 19,552 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its position in shares of 3M by 230.1% during the 4th quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate's stock valued at $40,000 after acquiring an additional 214 shares during the period. 65.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their price objective on 3M from $165.00 to $140.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Wells Fargo & Company upgraded shares of 3M from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Weiss Ratings reiterated a "hold (c+)" rating on shares of 3M in a research report on Tuesday, April 8th. Citigroup cut their price target on 3M from $152.00 to $142.00 and set a "neutral" rating for the company in a report on Monday. Finally, Royal Bank of Canada reaffirmed an "underperform" rating and set a $96.00 price target on shares of 3M in a research note on Thursday, February 27th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, 3M currently has a consensus rating of "Moderate Buy" and an average price target of $146.47.

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3M Trading Down 0.6 %

Shares of MMM stock traded down $0.77 during mid-day trading on Tuesday, reaching $135.24. The company's stock had a trading volume of 1,889,268 shares, compared to its average volume of 4,128,466. The company's 50 day simple moving average is $146.04 and its 200-day simple moving average is $138.38. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. 3M has a 12-month low of $90.17 and a 12-month high of $156.35. The firm has a market capitalization of $72.94 billion, a PE ratio of 17.91, a price-to-earnings-growth ratio of 3.30 and a beta of 1.01.

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

3M Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th were paid a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from 3M's previous quarterly dividend of $0.70. 3M's dividend payout ratio (DPR) is 38.68%.

Insiders Place Their Bets

In related news, insider Christian T. Goralski, Jr. sold 6,318 shares of the firm's stock in a transaction on Friday, January 24th. The stock was sold at an average price of $149.43, for a total transaction of $944,098.74. Following the transaction, the insider now directly owns 5,024 shares in the company, valued at $750,736.32. This trade represents a 55.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Michael F. Roman sold 49,598 shares of the firm's stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $152.30, for a total transaction of $7,553,775.40. Following the completion of the transaction, the chairman now owns 180,895 shares in the company, valued at approximately $27,550,308.50. The trade was a 21.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,639 shares of company stock worth $17,163,446 in the last three months. 0.34% of the stock is owned by insiders.

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.