Venture Visionary Partners LLC Trims Holdings in 3M (NYSE:MMM)

Venture Visionary Partners LLC trimmed its holdings in shares of 3M (NYSE:MMM) by 4.4% in the 3rd quarter, Holdings Channel reports. The firm owned 11,766 shares of the conglomerate’s stock after selling 536 shares during the quarter. Venture Visionary Partners LLC’s holdings in 3M were worth $1,608,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Tributary Capital Management LLC purchased a new stake in 3M in the 1st quarter valued at about $25,000. MFA Wealth Advisors LLC purchased a new stake in shares of 3M in the second quarter valued at approximately $28,000. Daymark Wealth Partners LLC increased its holdings in 3M by 8.6% during the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 17,211 shares during the period. McClarren Financial Advisors Inc. raised its position in 3M by 118.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 121 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its holdings in shares of 3M by 689.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock worth $31,000 after buying an additional 269 shares during the period. 65.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MMM shares. Argus upgraded 3M from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised shares of 3M from a “hold” rating to a “buy” rating and upped their price target for the stock from $110.00 to $150.00 in a research report on Monday, July 29th. StockNews.com lowered 3M from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Mizuho lifted their price target on 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, Morgan Stanley began coverage on 3M in a research report on Friday, September 6th. They issued an “underweight” rating and a $125.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $130.57.

3M Trading Down 0.2 %

NYSE:MMM opened at $134.83 on Tuesday. The company has a current ratio of 1.36, a quick ratio of 1.08 and a debt-to-equity ratio of 2.95. The firm has a fifty day simple moving average of $132.90 and a 200-day simple moving average of $113.18. 3M has a 12 month low of $71.12 and a 12 month high of $140.72. The company has a market capitalization of $74.61 billion, a P/E ratio of -10.60, a PEG ratio of 2.49 and a beta of 0.95.

3M (NYSE:MMM) last posted its quarterly earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.25. 3M had a return on equity of 112.92% and a net margin of 3.08%. The business had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $5.85 billion. During the same quarter in the previous year, the business earned $2.17 EPS. On average, equities research analysts anticipate that 3M will post 7.24 earnings per share for the current year.

3M Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Monday, August 26th. 3M’s dividend payout ratio (DPR) is currently -22.01%.

Insider Transactions at 3M

In related news, Chairman Michael F. Roman sold 5,675 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total transaction of $700,635.50. Following the completion of the transaction, the chairman now directly owns 174,036 shares in the company, valued at $21,486,484.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Chairman Michael F. Roman sold 5,675 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total value of $700,635.50. Following the completion of the transaction, the chairman now owns 174,036 shares of the company’s stock, valued at $21,486,484.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Theresa E. Reinseth sold 2,100 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total value of $260,652.00. Following the sale, the chief financial officer now directly owns 4,364 shares in the company, valued at approximately $541,659.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

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.