3M (NYSE:MMM) Shares Sold by Calamos Advisors LLC

Calamos Advisors LLC decreased its position in 3M (NYSE:MMM) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,183 shares of the conglomerate’s stock after selling 1,047 shares during the quarter. Calamos Advisors LLC’s holdings in 3M were worth $8,766,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of MMM. Markel Corp lifted its holdings in shares of 3M by 6.5% in the first quarter. Markel Corp now owns 269,750 shares of the conglomerate’s stock valued at $40,161,000 after buying an additional 16,550 shares during the period. Axiom Financial Strategies LLC lifted its holdings in shares of 3M by 5.3% in the first quarter. Axiom Financial Strategies LLC now owns 6,513 shares of the conglomerate’s stock valued at $942,000 after buying an additional 326 shares during the period. Dakota Wealth Management acquired a new stake in shares of 3M in the first quarter valued at $246,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in shares of 3M by 17.6% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,532 shares of the conglomerate’s stock valued at $972,000 after purchasing an additional 977 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in shares of 3M by 73.0% during the first quarter. Covestor Ltd now owns 1,275 shares of the conglomerate’s stock valued at $190,000 after purchasing an additional 538 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Insider Activity

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total transaction of $39,328.32. Following the transaction, the insider now owns 3,966 shares of the company’s stock, valued at approximately $366,141.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.34% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Citigroup upped their target price on 3M from $95.31 to $98.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Mizuho reaffirmed a “neutral” rating and set a $105.00 target price on shares of 3M in a report on Wednesday, March 27th. Barclays reduced their target price on 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a report on Tuesday, April 2nd. StockNews.com raised 3M from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Finally, Wells Fargo & Company dropped their price target on 3M from $112.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, 3M has an average rating of “Hold” and a consensus price target of $104.00.

3M Price Performance

Shares of MMM stock opened at $92.35 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 2.69. 3M has a fifty-two week low of $71.12 and a fifty-two week high of $95.67. The stock’s 50-day moving average is $95.76 and its two-hundred day moving average is $97.24.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.11. The business had revenue of $8.01 billion for the quarter, compared to analyst estimates of $7.69 billion. 3M had a positive return on equity of 62.45% and a negative net margin of 21.40%. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.28 EPS. As a group, analysts anticipate that 3M will post 8.79 earnings per share for the current year.

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th were issued a dividend of $1.51 per share. This is a positive change from 3M’s previous quarterly dividend of $1.50. The ex-dividend date was Thursday, February 15th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 6.54%. 3M’s dividend payout ratio is currently -47.82%.

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.