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

Mayflower Financial Advisors LLC decreased its position in 3M (NYSE:MMM) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,335 shares of the conglomerate’s stock after selling 74 shares during the quarter. Mayflower Financial Advisors LLC’s holdings in 3M were worth $560,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in MMM. State Street Corp raised its holdings in shares of 3M by 1.1% in the 3rd quarter. State Street Corp now owns 27,194,612 shares of the conglomerate’s stock valued at $3,717,503,000 after purchasing an additional 302,900 shares in the last quarter. FMR LLC increased its holdings in 3M by 88.7% in the third quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock valued at $1,225,087,000 after buying an additional 4,212,409 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in 3M by 1.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,815,625 shares of the conglomerate’s stock valued at $521,596,000 after buying an additional 43,942 shares in the last quarter. National Pension Service lifted its holdings in 3M by 14.5% during the 3rd quarter. National Pension Service now owns 1,268,003 shares of the conglomerate’s stock worth $173,336,000 after buying an additional 161,036 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of 3M by 11,601.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate’s stock worth $172,416,000 after acquiring an additional 1,250,491 shares in the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Insider Activity

In other news, insider Christian T. Goralski, Jr. sold 6,318 shares of the company’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $149.43, for a total transaction of $944,098.74. Following the transaction, the insider now directly owns 5,024 shares of the company’s stock, valued at $750,736.32. This represents a 55.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Theresa E. Reinseth sold 2,309 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $149.95, for a total transaction of $346,234.55. Following the sale, the chief accounting officer now directly owns 4,417 shares in the company, valued at approximately $662,329.15. This represents a 34.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,291 shares of company stock valued at $9,339,786 in the last three months. 0.34% of the stock is currently owned by company insiders.

3M Stock Performance

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

3M (NYSE:MMM) last issued its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.02. The business had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The business’s quarterly revenue was down 25.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.42 earnings per share. On average, sell-side analysts expect that 3M will post 7.66 EPS for the current year.

3M Announces Dividend

The firm also recently announced 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. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date was Friday, November 15th. 3M’s dividend payout ratio (DPR) is 37.09%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Melius raised 3M from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Bank of America raised their price objective on shares of 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Weiss Ratings restated a “hold (c)” rating on shares of 3M in a report on Saturday, January 18th. Citigroup lifted their price target on shares of 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Finally, Barclays upped their price objective on shares of 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a research note 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $148.87.

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.