OneDigital Investment Advisors LLC Trims Holdings in 3M (NYSE:MMM)

OneDigital Investment Advisors LLC lowered its stake in 3M (NYSE:MMM - Free Report) by 8.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,447 shares of the conglomerate's stock after selling 1,956 shares during the period. OneDigital Investment Advisors LLC's holdings in 3M were worth $2,639,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Transce3nd LLC purchased a new stake in shares of 3M in the fourth quarter worth about $71,000. Sharpepoint LLC acquired a new position in shares of 3M in the 4th quarter valued at $1,048,000. MML Investors Services LLC boosted its holdings in 3M by 34.1% during the fourth quarter. MML Investors Services LLC now owns 122,063 shares of the conglomerate's stock worth $15,757,000 after buying an additional 31,044 shares in the last quarter. MetLife Investment Management LLC grew its holdings in 3M by 0.7% in the fourth quarter. MetLife Investment Management LLC now owns 148,580 shares of the conglomerate's stock valued at $19,180,000 after purchasing an additional 997 shares during the period. Finally, Natixis raised its stake in shares of 3M by 5.1% during the 4th quarter. Natixis now owns 53,039 shares of the conglomerate's stock worth $6,847,000 after buying an additional 2,592 shares during the period. 65.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on MMM shares. Royal Bank of Canada raised their target price on shares of 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a research note on Wednesday. Wells Fargo & Company raised 3M from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a report on Thursday. JPMorgan Chase & Co. reduced their target price on shares of 3M from $165.00 to $140.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Finally, Citigroup dropped their price target on shares of 3M from $152.00 to $142.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $147.00.

3M Stock Down 1.1 %

Shares of NYSE:MMM traded down $1.58 during trading on Friday, hitting $137.30. The company's stock had a trading volume of 2,141,243 shares, compared to its average volume of 4,172,344. The company has a market capitalization of $74.05 billion, a PE ratio of 18.19, a P/E/G ratio of 3.30 and a beta of 1.01. The business has a 50 day moving average price of $143.38 and a two-hundred day moving average price of $138.19. 3M has a fifty-two week low of $90.65 and a fifty-two week high of $156.35. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41.

3M (NYSE:MMM - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.77 by $0.11. 3M had a return on equity of 100.77% and a net margin of 15.71%. The company had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.78 billion. As a group, research analysts expect that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th were issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 2.13%. This is a positive change from 3M's previous quarterly dividend of $0.70. The ex-dividend date was Friday, February 14th. 3M's dividend payout ratio (DPR) is presently 38.68%.

Insider Transactions at 3M

In other news, EVP Kevin H. Rhodes sold 6,743 shares of the business's stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $149.85, for a total transaction of $1,010,438.55. Following the completion of the sale, the executive vice president now owns 4,902 shares in the company, valued at approximately $734,564.70. The trade was a 57.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Michael F. Roman sold 49,598 shares of the stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $152.30, for a total transaction of $7,553,775.40. Following the completion of the transaction, the chairman now directly owns 180,895 shares in the company, valued at $27,550,308.50. This trade represents a 21.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 59,736 shares of company stock valued at $9,081,260. 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.