3M (NYSE:MMM) Shares Sold by Sargent Investment Group LLC

Sargent Investment Group LLC reduced its holdings in 3M (NYSE:MMM) by 22.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,506 shares of the conglomerate’s stock after selling 737 shares during the quarter. Sargent Investment Group LLC’s holdings in 3M were worth $337,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. James J. Burns & Company LLC acquired a new stake in 3M in the 4th quarter valued at approximately $1,235,000. Stephens Consulting LLC increased its position in 3M by 151.3% in the 4th quarter. Stephens Consulting LLC now owns 1,495 shares of the conglomerate’s stock valued at $193,000 after acquiring an additional 900 shares during the period. Brown Lisle Cummings Inc. increased its position in 3M by 4.6% in the 4th quarter. Brown Lisle Cummings Inc. now owns 8,050 shares of the conglomerate’s stock valued at $1,039,000 after acquiring an additional 352 shares during the period. Commonwealth Financial Services LLC increased its position in shares of 3M by 12.2% during the 4th quarter. Commonwealth Financial Services LLC now owns 2,453 shares of the conglomerate’s stock valued at $317,000 after purchasing an additional 267 shares during the period. Finally, Calamos Wealth Management LLC increased its position in shares of 3M by 4.9% during the 4th quarter. Calamos Wealth Management LLC now owns 2,194 shares of the conglomerate’s stock valued at $283,000 after purchasing an additional 103 shares during the period. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Stock Performance

Shares of 3M stock opened at $152.43 on Thursday. The stock has a market cap of $83.01 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 3.37 and a beta of 0.96. The business has a fifty day simple moving average of $135.98 and a 200-day simple moving average of $131.93. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. 3M has a 12 month low of $75.40 and a 12 month high of $155.00.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The business had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.77 billion. During the same period last year, the company earned $2.42 earnings per share. 3M’s quarterly revenue was down 25.0% compared to the same quarter last year. On average, sell-side analysts anticipate that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 14th will be issued a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 1.92%. This is a positive change from 3M’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, February 14th. 3M’s dividend payout ratio (DPR) is currently 37.09%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MMM. Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and lifted their price target for the company from $130.00 to $184.00 in a research report on Wednesday, November 13th. Barclays lifted their price target on 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of 3M in a research report on Saturday, February 1st. Finally, Royal Bank of Canada reiterated an “underperform” rating and set a $96.00 price target on shares of 3M in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $148.87.

Insider Buying and Selling

In other 3M news, insider Christian T. Goralski, Jr. sold 6,318 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was 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 in the company, valued at $750,736.32. This trade represents a 55.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of 3M stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $150.25, for a total value of $247,161.25. Following the completion of the transaction, the insider now owns 5,153 shares in the company, valued at $774,238.25. The trade was a 24.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,639 shares of company stock worth $17,163,446. Corporate insiders own 0.34% of the company’s stock.

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.