3M (NYSE:MMM) Shares Sold by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI cut its stake in 3M (NYSE:MMM - Free Report) by 49.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,456 shares of the conglomerate's stock after selling 34,618 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in 3M were worth $4,847,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of MMM. McClarren Financial Advisors Inc. raised its position in 3M by 118.6% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate's stock worth $30,000 after purchasing an additional 121 shares during the last quarter. Tributary Capital Management LLC bought a new stake in shares of 3M during the 1st quarter worth approximately $25,000. MFA Wealth Advisors LLC bought a new stake in shares of 3M during the second quarter worth $28,000. Meeder Asset Management Inc. increased its holdings in 3M by 689.7% in the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate's stock valued at $31,000 after purchasing an additional 269 shares during the period. Finally, TruNorth Capital Management LLC bought a new stake in 3M during the second quarter valued at $33,000. Institutional investors own 65.25% of the company's stock.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MMM. Bank of America boosted 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. Mizuho lifted 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. Royal Bank of Canada increased their price objective on 3M from $93.00 to $95.00 and gave the company an "underperform" rating in a research report on Monday, July 29th. Barclays boosted their price target on 3M from $160.00 to $165.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, Melius upgraded shares of 3M from a "hold" rating to a "buy" rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, 3M presently has an average rating of "Hold" and an average target price of $134.20.

3M Trading Down 2.1 %

Shares of NYSE:MMM opened at $128.92 on Wednesday. The firm has a market capitalization of $71.34 billion, a price-to-earnings ratio of -10.29, a price-to-earnings-growth ratio of 2.49 and a beta of 0.95. The business's 50 day moving average price is $133.03 and its 200-day moving average price is $113.46. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.36 and a quick ratio of 1.08. 3M has a 1 year low of $72.47 and a 1 year high of $141.34.

3M (NYSE:MMM - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, topping analysts' consensus estimates of $1.93 by $0.05. 3M had a return on equity of 112.92% and a net margin of 3.08%. The company had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.06 billion. During the same quarter in the previous year, the company posted $2.68 earnings per share. The firm's revenue for the quarter was down 24.3% compared to the same quarter last year. On average, equities research analysts forecast that 3M will post 7.24 earnings per share for the current fiscal year.

3M Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 26th were issued a $0.70 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.80 annualized dividend and a dividend yield of 2.17%. 3M's dividend payout ratio is presently -22.01%.

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.

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