3M (NYSE:MMM) Position Lessened by Nichols & Pratt Advisers LLP MA

Nichols & Pratt Advisers LLP MA lowered its stake in shares of 3M (NYSE:MMM) by 35.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,390 shares of the conglomerate’s stock after selling 8,840 shares during the quarter. Nichols & Pratt Advisers LLP MA’s holdings in 3M were worth $1,675,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. RWA Wealth Partners LLC increased its holdings in shares of 3M by 436.0% in the 4th quarter. RWA Wealth Partners LLC now owns 28,740 shares of the conglomerate’s stock worth $3,142,000 after acquiring an additional 23,378 shares during the period. Harvest Fund Management Co. Ltd raised its holdings in shares of 3M by 505.9% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 1,242 shares of the conglomerate’s stock valued at $136,000 after buying an additional 1,037 shares during the last quarter. Alaska Permanent Fund Corp acquired a new position in shares of 3M during the fourth quarter worth approximately $446,000. Wynn Capital LLC bought a new position in 3M in the 4th quarter worth approximately $1,245,000. Finally, Disciplined Equity Management Inc. increased its position in 3M by 1.2% in the 4th quarter. Disciplined Equity Management Inc. now owns 15,058 shares of the conglomerate’s stock valued at $1,646,000 after acquiring an additional 180 shares during the period. 65.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. HSBC raised 3M from a “hold” rating to a “buy” rating and increased their price target for the stock from $91.13 to $115.00 in a research note on Friday, May 10th. Barclays increased their target price on shares of 3M from $120.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. StockNews.com downgraded shares of 3M from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Citigroup upped their price target on shares of 3M from $100.00 to $133.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Finally, JPMorgan Chase & Co. upgraded shares of 3M from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $110.00 to $111.00 in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $123.57.

3M Trading Up 1.5 %

Shares of 3M stock traded up $1.95 during trading on Friday, hitting $130.55. The stock had a trading volume of 2,618,842 shares, compared to its average volume of 5,267,496. 3M has a 1 year low of $71.12 and a 1 year high of $130.65. The stock has a 50 day simple moving average of $112.44 and a 200 day simple moving average of $102.33. The company has a quick ratio of 1.08, a current ratio of 1.36 and a debt-to-equity ratio of 2.95. The company has a market capitalization of $72.24 billion, a PE ratio of -10.26, a P/E/G ratio of 2.34 and a beta of 0.95.

3M (NYSE:MMM) last posted its quarterly earnings data on Friday, July 26th. The conglomerate reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.25. 3M had a net margin of 3.08% and a return on equity of 112.92%. The firm had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $5.85 billion. During the same period in the previous year, the company posted $2.17 EPS. On average, research analysts expect that 3M will post 7.21 EPS for the current fiscal year.

3M Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Monday, August 26th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.14%. The ex-dividend date is Monday, August 26th. 3M’s payout ratio is -22.01%.

Insiders Place Their Bets

In other 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 transaction, the chief financial officer now owns 4,364 shares in the company, valued at approximately $541,659.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other 3M news, CFO Theresa E. Reinseth sold 2,100 shares of 3M stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total transaction of $260,652.00. Following the completion of the sale, the chief financial officer now owns 4,364 shares of the company’s stock, valued at approximately $541,659.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Michael F. Roman sold 5,675 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was 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 disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

3M 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.