3M (NYSE:MMM) Shares Sold by Blair William & Co. IL

Blair William & Co. IL lessened its stake in 3M (NYSE:MMM) by 3.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 82,619 shares of the conglomerate’s stock after selling 2,869 shares during the period. Blair William & Co. IL’s holdings in 3M were worth $10,665,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MMM. Financial Life Planners purchased a new stake in shares of 3M in the 4th quarter valued at $25,000. Proficio Capital Partners LLC acquired a new stake in shares of 3M during the fourth quarter worth about $26,000. FSA Wealth Management LLC purchased a new position in shares of 3M in the third quarter valued at approximately $27,000. Daymark Wealth Partners LLC grew its holdings in shares of 3M by 9.0% in the fourth quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 19,552 shares in the last quarter. Finally, ORG Partners LLC increased its stake in 3M by 44.1% during the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after buying an additional 98 shares during the period. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Insiders Place Their Bets

In other 3M news, Chairman Michael F. Roman sold 45,276 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $150.01, for a total transaction of $6,791,852.76. Following the completion of the sale, the chairman now directly owns 175,718 shares of the company’s stock, valued at approximately $26,359,457.18. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Theresa E. Reinseth sold 2,309 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $149.95, for a total value of $346,234.55. Following the completion of the transaction, the chief accounting officer now directly owns 4,417 shares in the company, valued at approximately $662,329.15. The trade was a 34.33 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,639 shares of company stock valued at $17,163,446. Insiders own 0.34% of the company’s stock.

3M Stock Performance

Shares of MMM stock opened at $144.74 on Friday. The stock’s 50-day moving average is $149.60 and its two-hundred day moving average is $138.23. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. 3M has a 1 year low of $88.23 and a 1 year high of $156.35. The firm has a market cap of $78.58 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 3.30 and a beta of 0.97.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The firm had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.77 billion. During the same quarter last year, the business posted $2.42 EPS. The firm’s quarterly revenue was down 25.0% compared to the same quarter last year. Analysts predict that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were given a $0.73 dividend. This is an increase from 3M’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.92 annualized dividend and a yield of 2.02%. 3M’s dividend payout ratio is 38.68%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Barclays boosted their price target on shares of 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. boosted their target price on 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $96.00 price target on shares of 3M in a research report on Thursday, February 27th. Citigroup boosted their price objective on 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of 3M in a report on Saturday, March 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, 3M currently has an average rating of “Moderate Buy” and a consensus price target of $149.13.

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.