3M (NYSE:MMM) Shares Sold by Mutual Advisors LLC

Mutual Advisors LLC trimmed its position in 3M (NYSE:MMM - Free Report) by 23.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,721 shares of the conglomerate's stock after selling 4,392 shares during the quarter. Mutual Advisors LLC's holdings in 3M were worth $1,862,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. MFA Wealth Advisors LLC bought a new position in 3M during the second quarter valued at $28,000. Daymark Wealth Partners LLC raised its position in 3M by 8.6% in the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate's stock worth $30,000 after purchasing an additional 17,211 shares during the period. McClarren Financial Advisors Inc. lifted its stake in 3M by 118.6% in the third 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. Meeder Asset Management Inc. grew its stake in shares of 3M by 689.7% during the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate's stock valued at $31,000 after buying an additional 269 shares during the last quarter. Finally, TruNorth Capital Management LLC purchased a new stake in shares of 3M in the second quarter worth approximately $33,000. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MMM. StockNews.com downgraded 3M from a "buy" rating to a "hold" rating in a research report on Monday, July 29th. Morgan Stanley started coverage on shares of 3M in a research note on Friday, September 6th. They issued an "underweight" rating and a $125.00 target price on the stock. Royal Bank of Canada boosted their price target on 3M from $99.00 to $100.00 and gave the company an "underperform" rating in a report on Wednesday, October 23rd. Citigroup lifted their target price on 3M from $100.00 to $133.00 and gave the company a "neutral" rating in a research report on Monday, July 29th. Finally, JPMorgan Chase & Co. raised their price target on 3M from $160.00 to $165.00 and gave the company an "overweight" rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $139.27.

3M Stock Performance

Shares of NYSE:MMM traded down $1.25 on Friday, hitting $127.22. 2,830,412 shares of the company were exchanged, compared to its average volume of 4,912,989. The stock's 50 day moving average price is $133.06 and its 200 day moving average price is $114.90. 3M has a 1-year low of $75.40 and a 1-year high of $141.34. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41. The firm has a market capitalization of $69.28 billion, a P/E ratio of 16.22, a price-to-earnings-growth ratio of 2.06 and a beta of 0.95.

3M (NYSE:MMM - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, beating analysts' consensus estimates of $1.93 by $0.05. The firm had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. 3M's revenue for the quarter was down 24.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.68 earnings per share. Sell-side analysts predict that 3M will post 7.28 EPS for the current year.

3M Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 26th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend was Monday, August 26th. 3M's dividend payout ratio is currently 35.35%.

Insider Buying and Selling at 3M

In other 3M news, Chairman Michael F. Roman sold 5,675 shares of the company's stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total value of $700,635.50. Following the sale, the chairman now owns 174,036 shares in the company, valued at approximately $21,486,484.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 transaction of $700,635.50. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Theresa E. Reinseth sold 2,100 shares of 3M stock in a transaction dated 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 of the company's stock, valued at approximately $541,659.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.34% of the company's stock.

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.