3M (NYSE:MMM) Shares Sold by Focus Partners Advisor Solutions LLC

Focus Partners Advisor Solutions LLC decreased its position in 3M (NYSE:MMM) by 7.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 16,222 shares of the conglomerate’s stock after selling 1,272 shares during the period. Focus Partners Advisor Solutions LLC’s holdings in 3M were worth $2,094,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of MMM. Investors Asset Management of Georgia Inc. GA ADV boosted its position in 3M by 1.3% during the fourth quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,377 shares of the conglomerate’s stock worth $694,000 after purchasing an additional 67 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in 3M by 1.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 5,153 shares of the conglomerate’s stock valued at $665,000 after acquiring an additional 70 shares during the period. LaSalle St. Investment Advisors LLC increased its holdings in 3M by 2.5% in the 4th quarter. LaSalle St. Investment Advisors LLC now owns 2,951 shares of the conglomerate’s stock worth $381,000 after acquiring an additional 71 shares in the last quarter. Gilbert & Cook Inc. increased its holdings in 3M by 1.5% in the 4th quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate’s stock worth $659,000 after acquiring an additional 73 shares in the last quarter. Finally, Childress Capital Advisors LLC raised its position in 3M by 5.1% during the fourth quarter. Childress Capital Advisors LLC now owns 1,573 shares of the conglomerate’s stock worth $203,000 after acquiring an additional 76 shares during the period. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Royal Bank of Canada lifted their target price on shares of 3M from $98.00 to $100.00 and gave the company an “underperform” rating in a research report on Wednesday, April 23rd. Weiss Ratings reissued a “hold (c+)” rating on shares of 3M in a report on Saturday, May 10th. Citigroup lowered their price target on 3M from $152.00 to $142.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. increased their price objective on 3M from $140.00 to $167.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. Finally, Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $152.08.

3M Stock Performance

NYSE:MMM opened at $149.44 on Thursday. The company’s 50-day moving average is $141.82 and its two-hundred day moving average is $139.83. 3M has a 1-year low of $96.76 and a 1-year high of $156.35. 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 capitalization of $80.42 billion, a price-to-earnings ratio of 19.79, a PEG ratio of 3.30 and a beta of 1.02.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.11. The company had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.78 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. Analysts forecast that 3M will post 7.8 EPS for the current year.

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be issued a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 1.95%. 3M’s dividend payout ratio (DPR) is currently 36.87%.

Insider Buying and Selling at 3M

In related news, EVP Zoe L. Dickson sold 7,915 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $149.02, for a total transaction of $1,179,493.30. Following the transaction, the executive vice president now owns 6,127 shares of the company’s stock, valued at approximately $913,045.54. This represents a 56.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

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.