3M (NYSE:MMM) Stock Position Cut by Silvia Mccoll Wealth Management LLC

Silvia Mccoll Wealth Management LLC decreased its stake in shares of 3M (NYSE:MMM) by 5.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,833 shares of the conglomerate’s stock after selling 170 shares during the period. Silvia Mccoll Wealth Management LLC’s holdings in 3M were worth $387,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Balyasny Asset Management L.P. increased its position in shares of 3M by 313.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,650,961 shares of the conglomerate’s stock valued at $289,803,000 after purchasing an additional 2,010,319 shares during the period. Capital World Investors acquired a new position in 3M during the first quarter worth about $165,986,000. National Bank of Canada FI raised its position in 3M by 218.3% in the first quarter. National Bank of Canada FI now owns 1,489,351 shares of the conglomerate’s stock worth $147,344,000 after acquiring an additional 1,021,440 shares in the last quarter. Janus Henderson Group PLC raised its position in 3M by 1,015.6% in the first quarter. Janus Henderson Group PLC now owns 888,564 shares of the conglomerate’s stock worth $94,247,000 after acquiring an additional 808,914 shares in the last quarter. Finally, Schroder Investment Management Group lifted its holdings in 3M by 129.8% in the 4th quarter. Schroder Investment Management Group now owns 1,352,528 shares of the conglomerate’s stock valued at $147,858,000 after acquiring an additional 764,066 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors.

3M Price Performance

Shares of MMM opened at $134.78 on Friday. The business’s 50-day moving average is $130.54 and its 200-day moving average is $110.26. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.36 and a quick ratio of 1.08. The company has a market capitalization of $74.58 billion, a price-to-earnings ratio of -10.60, a P/E/G ratio of 2.51 and a beta of 0.95. 3M has a fifty-two week low of $71.12 and a fifty-two week high of $140.72.

3M (NYSE:MMM) last released its quarterly earnings data on Friday, July 26th. The conglomerate reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.25. The firm had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.85 billion. 3M had a net margin of 3.08% and a return on equity of 112.92%. During the same quarter in the prior year, the business earned $2.17 EPS. Equities research analysts expect that 3M will post 7.22 EPS 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 given a dividend of $0.70 per share. The ex-dividend date was Monday, August 26th. This represents a $2.80 dividend on an annualized basis and a yield of 2.08%. 3M’s payout ratio is -22.01%.

Analyst Upgrades and Downgrades

MMM has been the topic of a number of research reports. Wolfe Research upgraded shares of 3M from a “peer perform” rating to an “outperform” rating and set a $125.00 target price on the stock in a report on Thursday, June 13th. Morgan Stanley assumed coverage on 3M in a report on Friday, September 6th. They issued an “underweight” rating and a $125.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised 3M from a “hold” rating to a “buy” rating and raised their price objective for the stock from $110.00 to $150.00 in a research note on Monday, July 29th. Barclays boosted their target price on 3M from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Wells Fargo & Company lifted their price target on 3M from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued 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 $125.50.

Insider Buying and Selling at 3M

In other news, Chairman Michael F. Roman sold 5,675 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total transaction of $700,635.50. Following the completion of the sale, the chairman now directly owns 174,036 shares of the company’s stock, valued at approximately $21,486,484.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 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 transaction of $700,635.50. Following the transaction, the chairman now owns 174,036 shares in the company, valued at approximately $21,486,484.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Theresa E. Reinseth sold 2,100 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total transaction of $260,652.00. Following the transaction, the chief financial officer now owns 4,364 shares in the company, valued at approximately $541,659.68. The disclosure for this sale can be found here. Corporate 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.