Strategic Planning Group LLC lessened its holdings in 3M (NYSE:MMM - Free Report) by 49.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,599 shares of the conglomerate's stock after selling 27,521 shares during the period. Strategic Planning Group LLC's holdings in 3M were worth $3,692,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently bought and sold shares of the company. NewEdge Advisors LLC boosted its stake in shares of 3M by 15.1% in the second quarter. NewEdge Advisors LLC now owns 62,500 shares of the conglomerate's stock worth $6,387,000 after acquiring an additional 8,220 shares during the last quarter. EP Wealth Advisors LLC raised its position in shares of 3M by 1.0% in the second quarter. EP Wealth Advisors LLC now owns 14,487 shares of the conglomerate's stock valued at $1,480,000 after buying an additional 143 shares during the last quarter. Cetera Investment Advisers lifted its stake in shares of 3M by 10.7% in the second quarter. Cetera Investment Advisers now owns 183,925 shares of the conglomerate's stock worth $18,795,000 after buying an additional 17,793 shares in the last quarter. Dana Investment Advisors Inc. boosted its position in 3M by 6.1% during the second quarter. Dana Investment Advisors Inc. now owns 14,275 shares of the conglomerate's stock worth $1,459,000 after acquiring an additional 820 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of 3M during the 2nd quarter valued at approximately $43,000. Institutional investors and hedge funds own 65.25% of the company's stock.
Insiders Place Their Bets
In other 3M news, CAO Theresa E. Reinseth sold 2,309 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $149.95, for a total transaction of $346,234.55. Following the completion of the sale, the chief accounting officer now directly owns 4,417 shares of the company's stock, valued at approximately $662,329.15. This trade represents a 34.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the business's stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $149.43, for a total value of $944,098.74. Following the completion of the transaction, the insider now directly owns 5,024 shares in the company, valued at approximately $750,736.32. The trade was a 55.70 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 62,291 shares of company stock valued at $9,339,786. 0.34% of the stock is currently owned by insiders.
3M Stock Up 1.8 %
Shares of MMM traded up $2.77 during mid-day trading on Thursday, reaching $154.31. The company's stock had a trading volume of 3,938,601 shares, compared to its average volume of 4,677,350. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. 3M has a 12-month low of $75.40 and a 12-month high of $154.65. The stock has a market cap of $84.03 billion, a PE ratio of 20.44, a price-to-earnings-growth ratio of 2.46 and a beta of 0.95. The company's 50 day moving average is $134.20 and its 200 day moving average is $130.37.
3M (NYSE:MMM - Get Free Report) last released its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping analysts' consensus estimates of $1.66 by $0.02. 3M had a net margin of 15.71% and a return on equity of 100.77%. The company had revenue of $6.01 billion for the quarter, compared to analysts' expectations of $5.77 billion. During the same quarter last year, the company earned $2.42 earnings per share. The firm's revenue for the quarter was down 25.0% on a year-over-year basis. Equities analysts anticipate that 3M will post 7.66 EPS for the current fiscal year.
3M Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were paid a $0.70 dividend. The ex-dividend date was Friday, November 15th. This represents a $2.80 annualized dividend and a yield of 1.81%. 3M's dividend payout ratio is presently 37.09%.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on MMM shares. Mizuho lifted their target price on 3M from $105.00 to $146.00 and gave the company a "neutral" rating in a research report on Thursday, October 17th. Citigroup boosted their target price on 3M from $142.00 to $152.00 and gave the company a "neutral" rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. lifted their price objective on 3M from $162.00 to $165.00 and gave the company an "overweight" rating in a research note on Wednesday, January 22nd. Royal Bank of Canada restated an "underperform" rating and set a $96.00 target price on shares of 3M in a report on Wednesday, January 22nd. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of 3M in a research note on Saturday, January 18th. Two research 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's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $148.87.
Get Our Latest Stock Analysis on MMM
About 3M
(
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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