3M (NYSE:MMM) Stock Position Cut by USAdvisors Wealth Management LLC

USAdvisors Wealth Management LLC trimmed its stake in shares of 3M (NYSE:MMM) by 1.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,174 shares of the conglomerate’s stock after selling 493 shares during the quarter. 3M comprises 1.1% of USAdvisors Wealth Management LLC’s holdings, making the stock its 27th biggest position. USAdvisors Wealth Management LLC’s holdings in 3M were worth $3,507,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. D.A. Davidson & CO. grew its holdings in 3M by 16.2% during the third quarter. D.A. Davidson & CO. now owns 146,333 shares of the conglomerate’s stock worth $20,004,000 after acquiring an additional 20,421 shares during the period. Franklin Resources Inc. grew its stake in shares of 3M by 26.8% in the 3rd quarter. Franklin Resources Inc. now owns 845,401 shares of the conglomerate’s stock worth $114,770,000 after purchasing an additional 178,450 shares during the last quarter. Meyer Handelman Co. raised its holdings in shares of 3M by 1.4% in the 4th quarter. Meyer Handelman Co. now owns 197,618 shares of the conglomerate’s stock worth $25,511,000 after purchasing an additional 2,678 shares in the last quarter. Ballentine Partners LLC raised its holdings in shares of 3M by 40.1% in the 3rd quarter. Ballentine Partners LLC now owns 18,217 shares of the conglomerate’s stock worth $2,490,000 after purchasing an additional 5,210 shares in the last quarter. Finally, Stonegate Investment Group LLC lifted its stake in 3M by 5.6% during the third quarter. Stonegate Investment Group LLC now owns 252,847 shares of the conglomerate’s stock valued at $34,564,000 after purchasing an additional 13,473 shares during the last quarter. 65.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MMM. Mizuho upped their price target on 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. UBS Group raised 3M from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $130.00 to $184.00 in a research report on Wednesday, November 13th. Citigroup increased their price target on 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Bank of America boosted their price objective on 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, Royal Bank of Canada reiterated an “underperform” rating and issued a $96.00 target price on shares of 3M in a report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.87.

Insider Activity

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 transaction, the chairman now owns 175,718 shares in the company, valued at $26,359,457.18. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kevin H. Rhodes sold 6,743 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $149.85, for a total transaction of $1,010,438.55. Following the completion of the sale, the executive vice president now owns 4,902 shares of the company’s stock, valued at $734,564.70. The trade was a 57.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,291 shares of company stock worth $9,339,786. 0.34% of the stock is owned by corporate insiders.

3M Price Performance

Shares of NYSE:MMM opened at $151.55 on Thursday. The firm has a market cap of $82.53 billion, a price-to-earnings ratio of 20.07, a P/E/G ratio of 2.46 and a beta of 0.95. 3M has a 1 year low of $75.40 and a 1 year high of $152.96. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. The business has a fifty day simple moving average of $133.72 and a 200 day simple moving average of $130.23.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. The company had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. The business’s quarterly revenue was down 25.0% on a year-over-year basis. During the same period last year, the business earned $2.42 EPS. As a group, sell-side analysts predict that 3M will post 7.66 earnings per share for the current fiscal year.

3M Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were paid a dividend of $0.70 per share. The ex-dividend date was Friday, November 15th. This represents a $2.80 annualized dividend and a dividend yield of 1.85%. 3M’s dividend payout ratio (DPR) is 37.09%.

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.