Ameritas Advisory Services LLC Sells 478 Shares of 3M (NYSE:MMM)

Ameritas Advisory Services LLC reduced its position in 3M (NYSE:MMM) by 3.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,404 shares of the conglomerate’s stock after selling 478 shares during the period. Ameritas Advisory Services LLC’s holdings in 3M were worth $1,574,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tributary Capital Management LLC purchased a new stake in shares of 3M during the first quarter valued at $25,000. Financial Synergies Wealth Advisors Inc. raised its stake in shares of 3M by 419.1% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock worth $26,000 after buying an additional 197 shares during the period. MFA Wealth Advisors LLC acquired a new stake in shares of 3M in the second quarter valued at about $28,000. Northwest Investment Counselors LLC purchased a new stake in shares of 3M during the first quarter worth about $32,000. Finally, TruNorth Capital Management LLC acquired a new position in shares of 3M during the 2nd quarter worth about $33,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Price Performance

3M stock remained flat at $132.91 during mid-day trading on Friday. 1,274,232 shares of the company’s stock were exchanged, compared to its average volume of 5,196,066. The company has a current ratio of 1.36, a quick ratio of 1.08 and a debt-to-equity ratio of 2.95. 3M has a 12 month low of $71.12 and a 12 month high of $133.93. The firm has a market capitalization of $73.55 billion, a P/E ratio of -10.46, a P/E/G ratio of 2.34 and a beta of 0.95. The stock’s fifty day simple moving average is $114.29 and its two-hundred day simple moving average is $103.13.

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 analysts’ consensus estimates of $1.68 by $0.25. The company had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $5.85 billion. 3M had a return on equity of 112.92% and a net margin of 3.08%. During the same period last year, the firm earned $2.17 earnings per share. Equities research analysts expect that 3M will post 7.21 earnings per share for the current fiscal year.

3M Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Monday, August 26th will be paid a dividend of $0.70 per share. The ex-dividend date is Monday, August 26th. This represents a $2.80 annualized dividend and a yield of 2.11%. 3M’s dividend payout ratio is currently -22.01%.

Analysts Set New Price Targets

A number of brokerages have recently commented on MMM. HSBC upgraded shares of 3M from a “hold” rating to a “buy” rating and increased their target price for the company from $91.13 to $115.00 in a research report on Friday, May 10th. StockNews.com cut 3M from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Wolfe Research raised 3M from a “peer perform” rating to an “outperform” rating and set a $125.00 price target for the company in a report on Thursday, June 13th. Deutsche Bank Aktiengesellschaft raised shares of 3M from a “hold” rating to a “buy” rating and lifted their price target for the company from $110.00 to $150.00 in a research report on Monday, July 29th. Finally, Argus upgraded 3M from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $123.57.

Insider Activity at 3M

In other 3M news, Chairman Michael F. Roman sold 5,675 shares of 3M stock in a transaction that occurred 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 transaction, the chairman now owns 174,036 shares of the company’s stock, valued at $21,486,484.56. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Theresa E. Reinseth sold 2,100 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total value of $260,652.00. Following the completion of the sale, the chief financial officer now owns 4,364 shares in the company, valued at approximately $541,659.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $700,635.50. Following the transaction, the chairman now owns 174,036 shares in the company, valued at $21,486,484.56. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

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.