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

Mayflower Financial Advisors LLC lowered its position in 3M (NYSE:MMM) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing 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.

Other hedge funds and other institutional investors have also made changes to their positions in the company. NewEdge Advisors LLC increased its holdings in 3M by 15.1% during the 2nd quarter. NewEdge Advisors LLC now owns 62,500 shares of the conglomerate’s stock valued at $6,387,000 after acquiring an additional 8,220 shares in the last quarter. EP Wealth Advisors LLC raised its position in shares of 3M by 1.0% during the 2nd quarter. EP Wealth Advisors LLC now owns 14,487 shares of the conglomerate’s stock worth $1,480,000 after purchasing an additional 143 shares during the last quarter. Cetera Investment Advisers raised its position in shares of 3M by 10.7% during the 2nd quarter. Cetera Investment Advisers now owns 183,925 shares of the conglomerate’s stock worth $18,795,000 after purchasing an additional 17,793 shares during the last quarter. Dana Investment Advisors Inc. raised its position in shares of 3M by 6.1% during the 2nd quarter. Dana Investment Advisors Inc. now owns 14,275 shares of the conglomerate’s stock worth $1,459,000 after purchasing an additional 820 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in 3M during the 2nd quarter valued at $43,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MMM. Bank of America boosted their price target on 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Barclays boosted their target price 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. Weiss Ratings restated a “hold (c)” rating on shares of 3M in a report on Saturday, January 18th. JPMorgan Chase & Co. boosted their price objective on shares of 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Finally, Mizuho upped their price objective on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $148.87.

Insider Activity

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the company’s stock in a transaction that occurred on 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. This represents a 24.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of 3M stock in a transaction that occurred 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 sale, the insider now owns 5,024 shares in the company, valued at $750,736.32. This represents a 55.70 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,291 shares of company stock valued at $9,339,786. Company insiders own 0.34% of the company’s stock.

3M Price Performance

Shares of 3M stock opened at $151.55 on Thursday. The business’s fifty day moving average price is $133.72 and its 200 day moving average price is $130.23. 3M has a twelve month low of $75.40 and a twelve month high of $152.96. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. The stock has a market capitalization of $82.53 billion, a P/E ratio of 20.07, a PEG ratio of 2.46 and a beta of 0.95.

3M (NYSE:MMM) last released its quarterly earnings data 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 analyst estimates of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. The company’s revenue was down 25.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.42 EPS. As a group, research analysts anticipate that 3M will post 7.66 earnings per share for the current year.

3M Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend was Friday, November 15th. 3M’s payout ratio is currently 37.09%.

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.