Symphony Financial Ltd. Co. Sells 7,793 Shares of 3M (NYSE:MMM)

Symphony Financial Ltd. Co. decreased its holdings in 3M (NYSE:MMM - Free Report) by 74.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,678 shares of the conglomerate's stock after selling 7,793 shares during the quarter. Symphony Financial Ltd. Co.'s holdings in 3M were worth $284,000 at the end of the most recent quarter.

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Several other large investors have also added to or reduced their stakes in MMM. Financial Synergies Wealth Advisors Inc. increased its stake in 3M by 419.1% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate's stock valued at $26,000 after buying an additional 197 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in 3M in the 1st quarter valued at about $32,000. Livelsberger Financial Advisory purchased a new stake in 3M in the 4th quarter valued at about $35,000. CGC Financial Services LLC increased its stake in 3M by 89.9% in the 4th quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate's stock valued at $37,000 after buying an additional 160 shares during the last quarter. Finally, VisionPoint Advisory Group LLC increased its stake in shares of 3M by 91.9% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate's stock worth $42,000 after purchasing an additional 215 shares during the last quarter. Institutional investors own 65.25% of the company's stock.

3M Trading Down 0.9 %

3M stock traded down $0.98 during mid-day trading on Friday, hitting $102.19. The company's stock had a trading volume of 6,196,466 shares, compared to its average volume of 4,668,111. The company has a debt-to-equity ratio of 4.17, a current ratio of 1.64 and a quick ratio of 1.27. The stock has a market cap of $56.55 billion, a price-to-earnings ratio of -8.03, a price-to-earnings-growth ratio of 1.94 and a beta of 0.96. The business has a 50 day moving average price of $99.23 and a 200-day moving average price of $99.26. 3M has a 12 month low of $71.12 and a 12 month high of $106.04.

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3M Stock: Invest Now for Unmatched Quality and Growth Potential

3M (NYSE:MMM - Get Free Report) last released its quarterly earnings data on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.10 by $0.29. 3M had a negative net margin of 21.57% and a positive return on equity of 95.80%. The firm had revenue of $8 billion for the quarter, compared to analysts' expectations of $7.64 billion. During the same quarter in the previous year, the company earned $1.97 earnings per share. As a group, analysts forecast that 3M will post 7.09 EPS for the current year.

3M Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Friday, May 24th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend was Thursday, May 23rd. 3M's payout ratio is -22.01%.

Wall Street Analysts Forecast Growth

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MMM has been the subject of several research analyst reports. HSBC upgraded shares of 3M from a "hold" rating to a "buy" rating and raised their price target for the stock from $91.13 to $115.00 in a research note on Friday, May 10th. StockNews.com started coverage on shares of 3M in a research note on Thursday, June 6th. They issued a "buy" rating for the company. Barclays lifted their price objective on shares of 3M from $112.00 to $118.00 and gave the company an "overweight" rating in a research note on Tuesday, May 28th. JPMorgan Chase & Co. upgraded shares of 3M from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $110.00 to $111.00 in a research note on Wednesday, May 1st. Finally, UBS Group lifted their price objective on shares of 3M from $98.00 to $100.00 and gave the company a "neutral" rating in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, 3M has a consensus rating of "Hold" and an average target price of $111.58.

Read Our Latest Stock Analysis on 3M

3M Company Profile

(Free Report)

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.

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