Signaturefd LLC Has $1.16 Million Stake in 3M (NYSE:MMM)

Signaturefd LLC trimmed its holdings in 3M (NYSE:MMM) by 9.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,511 shares of the conglomerate’s stock after selling 877 shares during the period. Signaturefd LLC’s holdings in 3M were worth $1,164,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. McClarren Financial Advisors Inc. lifted its position in shares of 3M by 118.6% in the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after buying an additional 121 shares during the last quarter. Tributary Capital Management LLC acquired a new stake in 3M during the 1st quarter worth approximately $25,000. MFA Wealth Advisors LLC acquired a new stake in 3M during the 2nd quarter worth approximately $28,000. Meeder Asset Management Inc. lifted its holdings in 3M by 689.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 269 shares during the last quarter. Finally, TruNorth Capital Management LLC acquired a new stake in 3M during the 2nd quarter worth approximately $33,000. 65.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other 3M news, CFO Theresa E. Reinseth sold 2,100 shares of the company’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 completion of the transaction, the chief financial officer now owns 4,364 shares of the company’s stock, valued at $541,659.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other 3M news, Chairman Michael F. Roman sold 5,675 shares of the company’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. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Theresa E. Reinseth sold 2,100 shares of the company’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 completion of the transaction, the chief financial officer now directly owns 4,364 shares of the company’s stock, valued at approximately $541,659.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Melius Research raised 3M from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a report on Tuesday. StockNews.com cut 3M from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Barclays lifted their price target on 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday. Mizuho lifted their price target on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Melius upgraded 3M from a “hold” rating to a “buy” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $135.67.

3M Trading Down 2.9 %

Shares of MMM opened at $127.91 on Thursday. 3M has a 52-week low of $72.47 and a 52-week high of $141.34. The business’s fifty day moving average is $133.07 and its 200-day moving average is $113.57. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.08 and a current ratio of 1.36. The firm has a market cap of $70.78 billion, a price-to-earnings ratio of -10.06, a PEG ratio of 2.49 and a beta of 0.95.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.05. 3M had a return on equity of 112.92% and a net margin of 3.08%. The company had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.06 billion. During the same quarter last year, the company posted $2.68 EPS. The company’s revenue for the quarter was down 24.3% compared to the same quarter last year. Equities analysts anticipate that 3M will post 7.24 EPS for the current fiscal year.

3M Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were paid a $0.70 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.80 annualized dividend and a dividend yield of 2.19%. 3M’s payout ratio is -22.01%.

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.