Evergreen Capital Management LLC Has $1.42 Million Holdings in 3M (NYSE:MMM)

Evergreen Capital Management LLC decreased its stake in 3M (NYSE:MMM) by 2.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 13,863 shares of the conglomerate’s stock after selling 318 shares during the period. Evergreen Capital Management LLC’s holdings in 3M were worth $1,417,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Tributary Capital Management LLC acquired a new stake in shares of 3M in the 1st quarter valued at $25,000. Financial Synergies Wealth Advisors Inc. boosted its position in 3M by 419.1% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock valued at $26,000 after buying an additional 197 shares in the last quarter. MFA Wealth Advisors LLC bought a new stake in 3M during the second quarter worth about $28,000. Meeder Asset Management Inc. increased 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 worth $31,000 after buying an additional 269 shares in the last quarter. Finally, Northwest Investment Counselors LLC bought a new position in shares of 3M in the first quarter valued at approximately $32,000. 65.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other 3M news, Chairman Michael F. Roman sold 5,675 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chairman now owns 174,036 shares of the company’s stock, valued at $21,486,484.56. The sale was disclosed in a legal filing 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 business’s 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 completion of the transaction, the chairman now owns 174,036 shares of the company’s stock, valued at approximately $21,486,484.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Theresa E. Reinseth sold 2,100 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total value of $260,652.00. Following the sale, the chief financial officer now directly owns 4,364 shares in the company, valued at approximately $541,659.68. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

3M Stock Performance

MMM opened at $137.29 on Wednesday. The company has a fifty day moving average price of $125.97 and a two-hundred day moving average price of $108.63. 3M has a 52 week low of $71.12 and a 52 week high of $137.94. 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 data on Friday, July 26th. The conglomerate reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.25. 3M had a return on equity of 112.92% and a net margin of 3.08%. The business had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $5.85 billion. During the same period in the previous year, the firm earned $2.17 earnings per share. On average, sell-side analysts forecast that 3M will post 7.22 EPS for the current year.

3M Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 26th were given a $0.70 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.04%. 3M’s dividend payout ratio is -22.01%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MMM. Royal Bank of Canada lifted their price objective on 3M from $93.00 to $95.00 and gave the company an “underperform” rating in a research report on Monday, July 29th. Bank of America lifted their price target on 3M from $120.00 to $143.00 and gave the company a “buy” rating in a report on Monday, July 29th. Wells Fargo & Company increased their price objective on shares of 3M from $100.00 to $110.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 10th. Barclays boosted their target price on shares of 3M from $120.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Finally, Argus raised shares of 3M from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a research note on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $124.43.

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.