3M (NYSE:MMM) Stock Holdings Lessened by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. reduced its holdings in 3M (NYSE:MMM) by 2.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 34,822 shares of the conglomerate’s stock after selling 773 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in 3M were worth $4,760,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. RFG Advisory LLC lifted its position in 3M by 86.9% in the 1st quarter. RFG Advisory LLC now owns 6,765 shares of the conglomerate’s stock valued at $718,000 after purchasing an additional 3,145 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in 3M in the 1st quarter valued at about $32,000. Global Assets Advisory LLC bought a new stake in 3M in the 1st quarter valued at about $1,480,000. G&S Capital LLC lifted its position in 3M by 6.3% in the 1st quarter. G&S Capital LLC now owns 10,499 shares of the conglomerate’s stock valued at $1,114,000 after purchasing an additional 625 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC lifted its position in 3M by 20.7% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 15,988 shares of the conglomerate’s stock valued at $1,696,000 after purchasing an additional 2,741 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors.

3M Trading Down 0.2 %

Shares of NYSE:MMM opened at $134.83 on Tuesday. The stock has a market capitalization of $74.61 billion, a PE ratio of -10.60, a P/E/G ratio of 2.49 and a beta of 0.95. 3M has a 1 year low of $71.12 and a 1 year high of $140.72. The firm has a fifty day moving average price of $132.90 and a 200 day moving average price of $113.18. The company has a current ratio of 1.36, a quick ratio of 1.08 and a debt-to-equity ratio of 2.95.

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

3M Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend was Monday, August 26th. 3M’s dividend payout ratio is currently -22.01%.

Insider Activity

In other news, CFO Theresa E. Reinseth sold 2,100 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were 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 owns 4,364 shares of the company’s stock, valued at approximately $541,659.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other 3M news, Chairman Michael F. Roman sold 5,675 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were 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 approximately $21,486,484.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Theresa E. Reinseth sold 2,100 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total transaction of $260,652.00. Following the sale, the chief financial officer now directly owns 4,364 shares in the company, valued at $541,659.68. This 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 company insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on MMM shares. 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 research report on Monday, July 29th. Barclays lifted their price objective on shares of 3M from $145.00 to $160.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Morgan Stanley started coverage on shares of 3M in a research report on Friday, September 6th. They set an “underweight” rating and a $125.00 price target on the stock. Argus upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a research report on Tuesday, July 30th. Finally, StockNews.com downgraded shares of 3M from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $130.57.

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.