Venture Visionary Partners LLC Trims Stock Position in 3M (NYSE:MMM)

Venture Visionary Partners LLC trimmed its stake in 3M (NYSE:MMM) by 4.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,766 shares of the conglomerate’s stock after selling 536 shares during the period. Venture Visionary Partners LLC’s holdings in 3M were worth $1,608,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of MMM. Western Financial Corp CA bought a new stake in 3M during the 3rd quarter valued at approximately $1,384,000. Northwest Investment Counselors LLC bought a new stake in shares of 3M during the third quarter valued at approximately $57,000. 1858 Wealth Management LLC purchased a new stake in 3M in the third quarter worth $276,000. Crew Capital Management Ltd. purchased a new position in 3M during the third quarter valued at $229,000. Finally, Arlington Partners LLC boosted its holdings in shares of 3M by 9.5% during the 3rd quarter. Arlington Partners LLC now owns 34,148 shares of the conglomerate’s stock valued at $4,668,000 after buying an additional 2,961 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.

3M Price Performance

NYSE MMM opened at $134.83 on Tuesday. The company has a 50-day moving average price of $132.90 and a 200-day moving average price of $113.18. 3M has a 52 week low of $71.12 and a 52 week high of $140.72. The company has a quick ratio of 1.08, a current ratio of 1.36 and a debt-to-equity ratio of 2.95. The firm has a market capitalization of $74.61 billion, a P/E ratio of -10.60, a PEG ratio of 2.49 and a beta of 0.95.

3M (NYSE:MMM) last released its quarterly earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.25. The business had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $5.85 billion. 3M had a net margin of 3.08% and a return on equity of 112.92%. During the same period last year, the firm earned $2.17 earnings per share. Equities research analysts anticipate that 3M will post 7.24 earnings per share for the current year.

3M Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend was Monday, August 26th. 3M’s dividend payout ratio (DPR) is presently -22.01%.

Analyst Upgrades and Downgrades

MMM has been the topic of several research reports. Argus raised shares of 3M from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a research note on Tuesday, July 30th. Royal Bank of Canada raised 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. Mizuho boosted their target price on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Barclays raised their price target on 3M from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of 3M from a “hold” rating to a “buy” rating and raised their price objective for the company from $110.00 to $150.00 in a research note on Monday, July 29th. Two equities 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 company. Based on data from MarketBeat, 3M currently has a consensus rating of “Hold” and an average target price of $130.57.

Insider Activity

In other news, Chairman Michael F. Roman sold 5,675 shares of the company’s 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 sale, the chairman now directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other 3M news, CFO Theresa E. Reinseth sold 2,100 shares of the business’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 $541,659.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 owns 174,036 shares of the company’s stock, valued at $21,486,484.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company 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.