Brighton Jones LLC Has $961,000 Stock Holdings in 3M (NYSE:MMM)

Brighton Jones LLC trimmed its stake in 3M (NYSE:MMM) by 20.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,026 shares of the conglomerate’s stock after selling 1,830 shares during the quarter. Brighton Jones LLC’s holdings in 3M were worth $961,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of MMM. Tributary Capital Management LLC acquired a new stake in 3M in the first quarter worth $25,000. MFA Wealth Advisors LLC acquired a new position in shares of 3M during the second quarter valued at about $28,000. Daymark Wealth Partners LLC grew its holdings in shares of 3M by 8.6% during the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock valued at $30,000 after buying an additional 17,211 shares during the last quarter. McClarren Financial Advisors Inc. grew its holdings in shares of 3M by 118.6% during the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after buying an additional 121 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its holdings in shares of 3M by 689.7% during the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock valued at $31,000 after buying an additional 269 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MMM. Deutsche Bank Aktiengesellschaft upgraded shares of 3M from a “hold” rating to a “buy” rating and lifted their price objective for the company from $110.00 to $150.00 in a report on Monday, July 29th. Morgan Stanley initiated coverage on shares of 3M in a report on Friday, September 6th. They set an “underweight” rating and a $125.00 price objective for the company. Citigroup boosted their price target on shares of 3M from $100.00 to $133.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Mizuho upped their price objective on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Wells Fargo & Company upped their price objective on shares of 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $135.67.

Insiders Place Their Bets

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 value of $700,635.50. Following the transaction, the chairman now owns 174,036 shares of the company’s stock, valued at $21,486,484.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 value of $700,635.50. Following the transaction, the chairman now owns 174,036 shares of the company’s stock, valued at $21,486,484.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Theresa E. Reinseth sold 2,100 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total transaction 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 $541,659.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

3M Stock Down 1.1 %

3M stock opened at $126.44 on Friday. 3M has a twelve month low of $72.47 and a twelve month high of $141.34. The firm has a 50 day moving average price of $133.07 and a 200-day moving average price of $113.57. The company has a market capitalization of $69.97 billion, a P/E ratio of -9.94, a P/E/G ratio of 2.49 and a beta of 0.95. The company has a quick ratio of 1.08, a current ratio of 1.36 and a debt-to-equity ratio of 2.95.

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

3M Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 26th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date was Monday, August 26th. 3M’s payout ratio is currently -22.01%.

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.