3M (NYSE:MMM) Shares Sold by Genesee Capital Advisors LLC

Genesee Capital Advisors LLC lowered its position in shares of 3M (NYSE:MMM) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,229 shares of the conglomerate’s stock after selling 177 shares during the quarter. Genesee Capital Advisors LLC’s holdings in 3M were worth $933,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in MMM. Stonegate Investment Group LLC grew its position in shares of 3M by 3.5% during the fourth quarter. Stonegate Investment Group LLC now owns 261,782 shares of the conglomerate’s stock worth $33,793,000 after buying an additional 8,935 shares in the last quarter. Perigon Wealth Management LLC increased its position in shares of 3M by 5.2% during the 4th quarter. Perigon Wealth Management LLC now owns 30,842 shares of the conglomerate’s stock valued at $4,293,000 after purchasing an additional 1,526 shares during the period. Hutchens & Kramer Investment Management Group LLC bought a new stake in 3M during the fourth quarter worth approximately $219,000. Griffin Asset Management Inc. raised its holdings in shares of 3M by 4.7% during the fourth quarter. Griffin Asset Management Inc. now owns 8,960 shares of the conglomerate’s stock valued at $1,157,000 after acquiring an additional 400 shares during the period. Finally, Baldwin Wealth Partners LLC MA boosted its position in 3M by 2.9% during the 4th quarter. Baldwin Wealth Partners LLC MA now owns 6,348 shares of the conglomerate’s stock worth $819,000 after acquiring an additional 180 shares during the period. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at 3M

In other news, insider Christian T. Goralski, Jr. sold 6,318 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $149.43, for a total transaction of $944,098.74. Following the completion of the transaction, the insider now owns 5,024 shares of the company’s stock, valued at approximately $750,736.32. This represents a 55.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kevin H. Rhodes sold 6,743 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $149.85, for a total value of $1,010,438.55. Following the sale, the executive vice president now owns 4,902 shares in the company, valued at $734,564.70. The trade was a 57.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,291 shares of company stock worth $9,339,786 in the last 90 days. Corporate insiders own 0.34% of the company’s stock.

3M Trading Down 0.1 %

NYSE MMM opened at $151.34 on Wednesday. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The firm has a market cap of $82.42 billion, a PE ratio of 20.05, a P/E/G ratio of 2.46 and a beta of 0.95. 3M has a one year low of $75.40 and a one year high of $152.96. The firm’s fifty day moving average is $133.26 and its two-hundred day moving average is $129.89.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) 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 the consensus estimate of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The company’s quarterly revenue was down 25.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.42 earnings per share. Analysts expect that 3M will post 7.66 earnings per share for the current year.

3M Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MMM. Mizuho upped their price target on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Citigroup increased their price target on shares of 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Melius Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a research report on Tuesday, October 22nd. Barclays upped their price objective on shares of 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Finally, Melius raised 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, 3M has a consensus rating of “Moderate Buy” and an average target price of $148.87.

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.