Signaturefd LLC Has $1.16 Million Position in 3M (NYSE:MMM)

Signaturefd LLC lowered its holdings in 3M (NYSE:MMM) by 9.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,511 shares of the conglomerate’s stock after selling 877 shares during the quarter. Signaturefd LLC’s holdings in 3M were worth $1,164,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Global Assets Advisory LLC acquired a new position in shares of 3M during the first quarter valued at $1,480,000. Wealthcare Advisory Partners LLC lifted its stake in shares of 3M by 20.7% during the first quarter. Wealthcare Advisory Partners LLC now owns 15,988 shares of the conglomerate’s stock valued at $1,696,000 after acquiring an additional 2,741 shares during the period. Buckley Wealth Management LLC lifted its stake in shares of 3M by 36.7% during the first quarter. Buckley Wealth Management LLC now owns 29,889 shares of the conglomerate’s stock valued at $3,170,000 after acquiring an additional 8,020 shares during the period. Hennessy Advisors Inc. lifted its stake in shares of 3M by 60.4% during the first quarter. Hennessy Advisors Inc. now owns 66,400 shares of the conglomerate’s stock valued at $7,043,000 after acquiring an additional 25,000 shares during the period. Finally, Fifth Third Wealth Advisors LLC lifted its stake in shares of 3M by 17.5% during the first quarter. Fifth Third Wealth Advisors LLC now owns 4,243 shares of the conglomerate’s stock valued at $450,000 after acquiring an additional 631 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Michael F. Roman sold 5,675 shares of the 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 transaction, the chairman now directly owns 174,036 shares in the company, valued at approximately $21,486,484.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Chairman Michael F. Roman sold 5,675 shares of the stock in a transaction that occurred 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 directly owns 174,036 shares of the company’s stock, valued at approximately $21,486,484.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Theresa E. Reinseth sold 2,100 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 4,364 shares of the company’s stock, valued at $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 owned by corporate insiders.

3M Stock Down 2.9 %

Shares of 3M stock opened at $127.91 on Thursday. 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 $70.78 billion, a P/E ratio of -10.06, a price-to-earnings-growth ratio of 2.49 and a beta of 0.95. 3M has a 1 year low of $72.47 and a 1 year high of $141.34. The business has a 50-day moving average of $133.07 and a two-hundred day moving average of $113.57.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.05. The business had revenue of $6.29 billion during the quarter, compared to the consensus estimate of $6.06 billion. 3M had a return on equity of 112.92% and a net margin of 3.08%. 3M’s quarterly revenue was down 24.3% on a year-over-year basis. During the same period last year, the company earned $2.68 earnings per share. As a group, equities analysts predict that 3M will post 7.24 EPS for the current year.

3M Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 26th were issued 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 dividend yield of 2.19%. 3M’s payout ratio is presently -22.01%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Royal Bank of Canada upped their price target on 3M from $99.00 to $100.00 and gave the company an “underperform” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft upgraded 3M from a “hold” rating to a “buy” rating and upped their price objective for the company from $110.00 to $150.00 in a report on Monday, July 29th. Morgan Stanley initiated coverage on 3M in a report on Friday, September 6th. They issued an “underweight” rating and a $125.00 price objective for the company. Citigroup upped their price objective on 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Finally, Wells Fargo & Company upped their price objective on 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $135.67.

3M 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.