Boston Trust Walden Corp Has $2.61 Million Position in 3M (NYSE:MMM)

Boston Trust Walden Corp reduced its position in shares of 3M (NYSE:MMM) by 2.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,065 shares of the conglomerate’s stock after selling 385 shares during the quarter. Boston Trust Walden Corp’s holdings in 3M were worth $2,606,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. raised its stake in 3M by 118.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 121 shares during the period. Tributary Capital Management LLC acquired a new stake in 3M during the 1st quarter valued at $25,000. MFA Wealth Advisors LLC acquired a new stake in 3M during the 2nd quarter valued at $28,000. Meeder Asset Management Inc. raised its stake in 3M by 689.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 269 shares during the period. Finally, TruNorth Capital Management LLC acquired a new stake in 3M during the 2nd quarter valued at $33,000. 65.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, 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 value 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Theresa E. Reinseth sold 2,100 shares of 3M 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 of the company’s stock, valued at $541,659.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Michael F. Roman sold 5,675 shares of 3M stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total value of $700,635.50. Following the sale, the chairman now directly owns 174,036 shares in the company, valued at approximately $21,486,484.56. This trade 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 currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MMM. Mizuho upped their price target on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Citigroup upped their price target on shares of 3M from $100.00 to $133.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Melius Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research note on Tuesday, October 22nd. StockNews.com downgraded shares of 3M from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft raised shares of 3M from a “hold” rating to a “buy” rating and upped their price target for the stock 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 assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $135.67.

3M Trading Down 1.4 %

Shares of NYSE:MMM opened at $124.75 on Monday. The company has a market cap of $69.03 billion, a P/E ratio of -9.81, a P/E/G ratio of 2.42 and a beta of 0.95. The stock’s 50-day moving average is $133.00 and its 200-day moving average is $114.18. 3M has a 52-week low of $72.47 and a 52-week high of $141.34. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.05. The company had revenue of $6.29 billion for the quarter, compared to the consensus estimate of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. The firm’s revenue was down 24.3% compared to the same quarter last year. During the same period last year, the business posted $2.68 earnings per share. Equities research analysts predict that 3M will post 7.26 earnings per share for the current year.

3M Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Monday, August 26th. 3M’s dividend payout ratio is currently -22.01%.

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.