3M (NYSE:MMM) Shares Sold by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. lowered its stake in shares of 3M (NYSE:MMM - Free Report) by 14.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,277 shares of the conglomerate's stock after selling 2,322 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in 3M were worth $1,843,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. FSA Wealth Management LLC acquired a new position in 3M during the 3rd quarter valued at approximately $27,000. Daymark Wealth Partners LLC grew its holdings in shares of 3M by 8.6% during the third 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 during the last quarter. McClarren Financial Advisors Inc. increased its position in shares of 3M by 118.6% in 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 raised its stake in 3M by 44.1% in the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate's stock worth $41,000 after acquiring an additional 98 shares during the last quarter. Finally, True Wealth Design LLC lifted its position in 3M by 2,466.7% during the 3rd 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 hedge funds and other institutional investors.

3M Price Performance

NYSE MMM traded up $1.84 during trading hours on Friday, reaching $141.02. The company's stock had a trading volume of 5,717,193 shares, compared to its average volume of 2,528,391. The firm has a market capitalization of $76.80 billion, a price-to-earnings ratio of 17.81, a P/E/G ratio of 2.01 and a beta of 0.95. The company's 50-day moving average is $131.24 and its two-hundred day moving average is $127.56. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.43 and a quick ratio of 1.08. 3M has a 1-year low of $75.40 and a 1-year high of $141.66.

3M (NYSE:MMM - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.05. 3M had a return on equity of 104.66% and a net margin of 15.37%. The business had revenue of $6.29 billion during the quarter, compared to the consensus estimate of $6.06 billion. During the same period in the prior year, the company posted $2.68 EPS. The business's quarterly revenue was down 24.3% on a year-over-year basis. On average, equities analysts predict that 3M will post 7.27 EPS for the current year.

3M Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were given a $0.70 dividend. The ex-dividend date was Friday, November 15th. This represents a $2.80 annualized dividend and a dividend yield of 1.99%. 3M's dividend payout ratio (DPR) is 35.35%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MMM. UBS Group raised 3M from a "neutral" rating to a "buy" rating and increased their price objective for the company from $130.00 to $184.00 in a report on Wednesday, November 13th. Mizuho increased their price target on shares of 3M from $105.00 to $146.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. Wells Fargo & Company raised their price target on shares of 3M from $130.00 to $140.00 and gave the stock an "equal weight" rating in a research report on Monday, October 7th. Royal Bank of Canada dropped their price objective 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. Finally, JPMorgan Chase & Co. reduced their target price on shares of 3M from $165.00 to $162.00 and set an "overweight" rating for the company in a report on Wednesday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $144.13.

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.