Stephens Consulting LLC Lowers Stock Position in 3M (NYSE:MMM)

Stephens Consulting LLC reduced its stake in 3M (NYSE:MMM) by 62.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 595 shares of the conglomerate’s stock after selling 1,000 shares during the quarter. Stephens Consulting LLC’s holdings in 3M were worth $81,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in MMM. CVA Family Office LLC lifted its stake in 3M by 1.9% during the third quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate’s stock worth $571,000 after purchasing an additional 79 shares in the last quarter. Fortis Capital Advisors LLC lifted its stake in 3M by 2.9% during the 2nd quarter. Fortis Capital Advisors LLC now owns 3,001 shares of the conglomerate’s stock worth $307,000 after acquiring an additional 84 shares in the last quarter. KMG Fiduciary Partners LLC boosted its holdings in 3M by 0.5% during the 3rd quarter. KMG Fiduciary Partners LLC now owns 16,186 shares of the conglomerate’s stock valued at $2,213,000 after acquiring an additional 84 shares during the period. Brown Brothers Harriman & Co. boosted its holdings in 3M by 0.4% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 22,613 shares of the conglomerate’s stock valued at $2,311,000 after acquiring an additional 97 shares during the period. Finally, AMG National Trust Bank grew its position in 3M by 3.1% in the 2nd quarter. AMG National Trust Bank now owns 3,326 shares of the conglomerate’s stock valued at $340,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Insider Transactions at 3M

In related news, Chairman Michael F. Roman sold 5,675 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total transaction of $700,635.50. Following the transaction, the chairman now owns 174,036 shares in the company, valued at $21,486,484.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other 3M news, Chairman Michael F. Roman sold 5,675 shares of the business’s 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 owns 174,036 shares in the company, valued at approximately $21,486,484.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Theresa E. Reinseth sold 2,100 shares of the firm’s 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 transaction, the chief financial officer now owns 4,364 shares in the company, valued at approximately $541,659.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

3M Price Performance

MMM stock opened at $135.14 on Friday. The business has a 50 day moving average price of $132.67 and a 200 day moving average price of $112.73. The company has a quick ratio of 1.08, a current ratio of 1.36 and a debt-to-equity ratio of 2.95. The stock has a market cap of $74.78 billion, a price-to-earnings ratio of -10.62, a PEG ratio of 2.49 and a beta of 0.95. 3M has a fifty-two week low of $71.12 and a fifty-two week high of $140.72.

3M (NYSE:MMM) last issued its quarterly earnings data on Friday, July 26th. The conglomerate reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.25. The business had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $5.85 billion. 3M had a net margin of 3.08% and a return on equity of 112.92%. During the same quarter in the previous year, the firm earned $2.17 EPS. Equities research analysts anticipate that 3M will post 7.24 earnings per share for the current fiscal year.

3M Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 26th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Monday, August 26th. 3M’s payout ratio is -22.01%.

Analyst Ratings Changes

Several brokerages have recently issued reports on MMM. Mizuho increased their price target on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research report on Thursday. Bank of America increased their target price on shares of 3M from $120.00 to $143.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upgraded shares of 3M from a “hold” rating to a “buy” rating and boosted their price target for the stock from $110.00 to $150.00 in a research note on Monday, July 29th. Morgan Stanley assumed coverage on 3M in a research note on Friday, September 6th. They issued an “underweight” rating and a $125.00 price objective on the stock. Finally, Wells Fargo & Company lifted their target price on 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, 3M currently has an average rating of “Hold” and a consensus target price of $130.57.

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.