Watts Gwilliam & Co. LLC Sells 195 Shares of 3M Company $MMM

Watts Gwilliam & Co. LLC trimmed its stake in shares of 3M Company (NYSE:MMM) by 9.8% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 1,791 shares of the conglomerate’s stock after selling 195 shares during the quarter. Watts Gwilliam & Co. LLC’s holdings in 3M were worth $263,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd bought a new stake in shares of 3M during the 1st quarter worth $28,000. REAP Financial Group LLC lifted its position in shares of 3M by 88.7% during the 4th quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate’s stock worth $26,000 after buying an additional 94 shares during the last quarter. Curat Global LLC bought a new stake in shares of 3M during the 1st quarter worth $29,000. Pinney & Scofield Inc. bought a new stake in shares of 3M during the 4th quarter worth $28,000. Finally, Intelligent Financial Strategies bought a new stake in shares of 3M during the 1st quarter worth $42,000. 65.25% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, major shareholder Co 3M sold 8,800,000 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $73.45, for a total transaction of $646,360,000.00. Following the completion of the sale, the insider owned 25,569,190 shares of the company’s stock, valued at $1,878,057,005.50. This trade represents a 25.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Theresa E. Reinseth sold 3,477 shares of the firm’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $150.63, for a total value of $523,740.51. Following the sale, the chief accounting officer directly owned 2,561 shares of the company’s stock, valued at $385,763.43. This represents a 57.59% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,817,401 shares of company stock worth $648,960,803. Company insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Barclays set a $170.00 price objective on 3M in a research report on Friday, July 18th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of 3M in a report on Friday, July 18th. Citigroup upped their target price on 3M from $141.00 to $160.00 and gave the stock a “neutral” rating in a report on Friday, May 30th. JPMorgan Chase & Co. set a $167.00 target price on 3M in a report on Friday, July 18th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of 3M in a report on Thursday, August 14th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $158.10.

3M Trading Up 0.3%

Shares of MMM stock opened at $152.86 on Tuesday. The stock has a market cap of $81.42 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 2.95 and a beta of 1.05. The stock has a 50-day moving average of $151.14 and a 200-day moving average of $147.12. The company has a current ratio of 1.72, a quick ratio of 1.20 and a debt-to-equity ratio of 2.87. 3M Company has a 1-year low of $121.98 and a 1-year high of $164.15.

3M (NYSE:MMM) last issued its quarterly earnings results on Friday, July 18th. The conglomerate reported $2.16 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.15. The company had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $6.09 billion. 3M had a return on equity of 96.48% and a net margin of 16.01%. The business’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.93 earnings per share. On average, equities research analysts forecast that 3M Company will post 7.8 earnings per share for the current year.

3M Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Monday, August 25th will be paid a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 1.9%. 3M’s dividend payout ratio is currently 40.61%.

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.