HBW Advisory Services LLC Sells 3,827 Shares of 3M (NYSE:MMM)

HBW Advisory Services LLC decreased its stake in shares of 3M (NYSE:MMM) by 15.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,774 shares of the conglomerate’s stock after selling 3,827 shares during the period. HBW Advisory Services LLC’s holdings in 3M were worth $2,840,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Rafferty Asset Management LLC boosted its holdings in 3M by 5.5% during the fourth quarter. Rafferty Asset Management LLC now owns 46,331 shares of the conglomerate’s stock worth $5,065,000 after purchasing an additional 2,421 shares during the last quarter. Public Employees Retirement Association of Colorado grew its holdings in shares of 3M by 423.3% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 81,995 shares of the conglomerate’s stock valued at $8,964,000 after acquiring an additional 66,327 shares in the last quarter. Morningstar Investment Services LLC purchased a new stake in shares of 3M during the fourth quarter valued at approximately $403,000. Vinva Investment Management Ltd bought a new stake in 3M during the fourth quarter worth $2,090,000. Finally, White Knight Strategic Wealth Advisors LLC boosted its position in 3M by 7.4% in the fourth quarter. White Knight Strategic Wealth Advisors LLC now owns 3,972 shares of the conglomerate’s stock worth $434,000 after purchasing an additional 275 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

Insider Activity at 3M

In other 3M news, CFO Theresa E. Reinseth sold 2,100 shares of the company’s stock in a transaction 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 directly owns 4,364 shares in the company, valued at approximately $541,659.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 3M news, Chairman Michael F. Roman sold 5,675 shares of the firm’s 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 completion of the transaction, the chairman now 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 sale was disclosed in a filing with the SEC, which can be accessed 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 transaction of $260,652.00. Following the transaction, the chief financial officer now directly owns 4,364 shares of the company’s stock, valued at approximately $541,659.68. 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 currently owned by company insiders.

Analyst Ratings Changes

MMM has been the topic of a number of recent analyst reports. Bank of America lifted their target price on 3M from $120.00 to $143.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Citigroup increased their price objective on 3M from $100.00 to $133.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Argus upgraded 3M from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a research report on Tuesday, July 30th. StockNews.com lowered shares of 3M from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Wells Fargo & Company boosted their target price on 3M from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, 3M has an average rating of “Hold” and an average target price of $125.50.

3M Trading Up 0.2 %

MMM stock traded up $0.27 during trading on Friday, hitting $135.05. 1,259,949 shares of the company traded hands, compared to its average volume of 5,008,370. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.08 and a current ratio of 1.36. The company has a 50-day moving average of $130.54 and a 200-day moving average of $110.26. The firm has a market capitalization of $74.73 billion, a PE ratio of -10.60, a P/E/G ratio of 2.51 and a beta of 0.95. 3M has a 1 year low of $71.12 and a 1 year high of $140.72.

3M (NYSE:MMM) last posted its quarterly earnings results on Friday, July 26th. The conglomerate reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.25. The company had revenue of $6.26 billion during 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 period in the prior year, the business posted $2.17 EPS. Analysts predict that 3M will post 7.22 earnings per share for the current fiscal year.

3M Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were given a $0.70 dividend. The ex-dividend date was Monday, August 26th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.07%. 3M’s dividend payout ratio is currently -22.01%.

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.