3M (NYSE:MMM) Shares Sold by ORG Partners LLC

ORG Partners LLC decreased its holdings in 3M (NYSE:MMM) by 93.8% in the third quarter, Holdings Channel reports. The firm owned 222 shares of the conglomerate’s stock after selling 3,362 shares during the period. ORG Partners LLC’s holdings in 3M were worth $30,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tributary Capital Management LLC acquired a new stake in 3M in the first quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. boosted its stake in 3M by 419.1% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock worth $26,000 after purchasing an additional 197 shares in the last quarter. MFA Wealth Advisors LLC purchased a new stake in 3M during the 2nd quarter worth approximately $28,000. Daymark Wealth Partners LLC increased its stake in 3M by 8.6% during the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 17,211 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its holdings in shares of 3M by 689.7% in the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock worth $31,000 after buying an additional 269 shares during the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

3M Trading Up 0.5 %

Shares of 3M stock opened at $136.39 on Thursday. The firm has a 50-day simple moving average of $132.24 and a two-hundred day simple moving average of $112.14. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.08 and a current ratio of 1.36. 3M has a fifty-two week low of $71.12 and a fifty-two week high of $140.72. The company has a market cap of $75.47 billion, a P/E ratio of -10.72, a price-to-earnings-growth ratio of 2.49 and a beta of 0.95.

3M (NYSE:MMM) last announced its quarterly earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 112.92% and a net margin of 3.08%. During the same quarter in the previous year, the business earned $2.17 EPS. As a group, equities analysts predict that 3M will post 7.24 earnings per share for the current fiscal year.

3M Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 26th were paid a $0.70 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.80 dividend on an annualized basis and a yield of 2.05%. 3M’s dividend payout ratio is currently -22.01%.

Analyst Ratings Changes

Several research firms recently issued reports on MMM. Argus raised 3M from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a research report on Tuesday, July 30th. Royal Bank of Canada increased their price objective on 3M from $93.00 to $95.00 and gave the company an “underperform” rating in a report on Monday, July 29th. Citigroup lifted their target price on 3M from $100.00 to $133.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Bank of America increased their price target on shares of 3M from $120.00 to $143.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, Wells Fargo & Company upped their price objective on shares of 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Two investment 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 currently has a consensus rating of “Hold” and a consensus target price of $127.64.

Insider Buying and Selling

In other 3M news, Chairman Michael F. Roman sold 5,675 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total transaction of $700,635.50. Following the transaction, the chairman now directly owns 174,036 shares of the company’s stock, valued at $21,486,484.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other 3M news, CFO Theresa E. Reinseth sold 2,100 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was 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 $541,659.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal 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 that occurred on Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total value of $700,635.50. Following the completion of the sale, the chairman now directly owns 174,036 shares in the company, valued at $21,486,484.56. 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 insiders.

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.