3M (NYSE:MMM) Shares Sold by Duncker Streett & Co. Inc.

Duncker Streett & Co. Inc. trimmed its position in 3M (NYSE:MMM) by 4.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,214 shares of the conglomerate’s stock after selling 261 shares during the period. Duncker Streett & Co. Inc.’s holdings in 3M were worth $673,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Financial Advocates Investment Management boosted its stake in 3M by 33.6% in the third quarter. Financial Advocates Investment Management now owns 5,645 shares of the conglomerate’s stock valued at $772,000 after acquiring an additional 1,421 shares during the period. Americana Partners LLC boosted its stake in 3M by 4.4% in the third quarter. Americana Partners LLC now owns 3,255 shares of the conglomerate’s stock valued at $445,000 after acquiring an additional 138 shares during the period. Lowe Brockenbrough & Co. Inc. boosted its stake in 3M by 7.6% in the third quarter. Lowe Brockenbrough & Co. Inc. now owns 24,583 shares of the conglomerate’s stock valued at $3,360,000 after acquiring an additional 1,733 shares during the period. Weatherly Asset Management L. P. boosted its stake in 3M by 3.3% in the third quarter. Weatherly Asset Management L. P. now owns 2,730 shares of the conglomerate’s stock valued at $373,000 after acquiring an additional 86 shares during the period. Finally, Chicago Partners Investment Group LLC boosted its stake in 3M by 10.5% in the third quarter. Chicago Partners Investment Group LLC now owns 5,569 shares of the conglomerate’s stock valued at $712,000 after acquiring an additional 531 shares during the period. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Price Performance

Shares of NYSE:MMM opened at $155.25 on Friday. 3M has a 12 month low of $75.40 and a 12 month high of $155.50. The stock has a market cap of $84.29 billion, a price-to-earnings ratio of 20.56, a PEG ratio of 3.30 and a beta of 0.96. The stock’s 50 day moving average price is $142.73 and its 200 day moving average price is $135.49. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.02. The company had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. The firm’s revenue was down 25.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.42 earnings per share. Equities research analysts anticipate that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th will be issued a $0.73 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.92 annualized dividend and a dividend yield of 1.88%. This is a boost from 3M’s previous quarterly dividend of $0.70. 3M’s dividend payout ratio is currently 38.68%.

Insider Buying and Selling at 3M

In other 3M news, EVP Victoria Clarke sold 1,750 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $154.22, for a total value of $269,885.00. Following the transaction, the executive vice president now owns 194 shares of the company’s stock, valued at approximately $29,918.68. This represents a 90.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the company’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $149.43, for a total value of $944,098.74. Following the completion of the transaction, the insider now directly owns 5,024 shares in the company, valued at $750,736.32. This represents a 55.70 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,639 shares of company stock valued at $17,163,446. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on MMM shares. Citigroup lifted their target price on 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Wells Fargo & Company raised 3M from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $140.00 to $170.00 in a report on Wednesday, January 22nd. UBS Group raised 3M from a “neutral” rating to a “buy” rating and lifted their price target for the company from $130.00 to $184.00 in a report on Wednesday, November 13th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $96.00 price target on shares of 3M in a report on Thursday. Finally, Bank of America lifted their price target on 3M from $160.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $148.87.

About 3M

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.