Jade Capital Advisors LLC Lowers Position in 3M (NYSE:MMM)

Jade Capital Advisors LLC cut its position in 3M (NYSE:MMM - Free Report) by 44.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,000 shares of the conglomerate's stock after selling 20,000 shares during the period. 3M accounts for about 2.2% of Jade Capital Advisors LLC's investment portfolio, making the stock its 10th biggest position. Jade Capital Advisors LLC's holdings in 3M were worth $3,418,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. RFG Advisory LLC raised its stake in shares of 3M by 86.9% in the first quarter. RFG Advisory LLC now owns 6,765 shares of the conglomerate's stock worth $718,000 after acquiring an additional 3,145 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in shares of 3M in the first quarter worth about $32,000. Global Assets Advisory LLC bought a new position in shares of 3M in the first quarter worth about $1,480,000. G&S Capital LLC raised its stake in shares of 3M by 6.3% in the first quarter. G&S Capital LLC now owns 10,499 shares of the conglomerate's stock worth $1,114,000 after acquiring an additional 625 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC raised its stake in shares of 3M by 20.7% in the first quarter. Wealthcare Advisory Partners LLC now owns 15,988 shares of the conglomerate's stock worth $1,696,000 after acquiring an additional 2,741 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at 3M

In other 3M news, Chairman Michael F. Roman sold 5,675 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total value of $700,635.50. Following the completion of the sale, the chairman now owns 174,036 shares in the company, valued at $21,486,484.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Chairman Michael F. Roman sold 5,675 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total value of $700,635.50. Following the transaction, the chairman now directly owns 174,036 shares of the company's stock, valued at $21,486,484.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Theresa E. Reinseth sold 2,100 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total transaction of $260,652.00. Following the completion of the transaction, the chief financial officer now directly owns 4,364 shares in the company, valued at $541,659.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of 3M from a "hold" rating to a "buy" rating and boosted their price target for the stock from $110.00 to $150.00 in a research note on Monday, July 29th. Melius raised shares of 3M from a "hold" rating to a "buy" rating in a research note on Tuesday. Bank of America upped their target price on shares of 3M from $120.00 to $143.00 and gave the company a "buy" rating in a research note on Monday, July 29th. Melius Research raised shares of 3M from a "hold" rating to a "buy" rating and set a $180.00 target price for the company in a research note on Tuesday. Finally, Mizuho upped their target price on shares of 3M from $105.00 to $146.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $133.87.

3M Stock Down 2.3 %

MMM traded down $3.11 during trading hours on Tuesday, hitting $131.73. 13,031,580 shares of the company's stock were exchanged, compared to its average volume of 4,938,824. 3M has a 1-year low of $71.12 and a 1-year high of $141.34. The stock's 50-day moving average is $132.90 and its two-hundred day moving average is $113.18. The stock has a market cap of $72.89 billion, a price-to-earnings ratio of -10.39, a PEG ratio of 2.49 and a beta of 0.95. The company has a quick ratio of 1.08, a current ratio of 1.36 and a debt-to-equity ratio of 2.95.

3M (NYSE:MMM - Get Free Report) last announced its earnings results on Friday, July 26th. The conglomerate reported $1.93 EPS for the quarter, topping the consensus estimate of $1.68 by $0.25. 3M had a net margin of 3.08% and a return on equity of 112.92%. The business had revenue of $6.26 billion during the quarter, compared to analysts' expectations of $5.85 billion. During the same quarter in the prior year, the company posted $2.17 earnings per share. Sell-side analysts predict that 3M will post 7.24 earnings per share for the current fiscal year.

3M Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 26th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend was Monday, August 26th. 3M's dividend payout ratio is currently -22.01%.

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.