Trust Co. of Vermont Sells 311 Shares of 3M (NYSE:MMM)

Trust Co. of Vermont lessened its holdings in shares of 3M (NYSE:MMM) by 0.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,105 shares of the conglomerate’s stock after selling 311 shares during the quarter. Trust Co. of Vermont’s holdings in 3M were worth $6,986,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of MMM. Capital World Investors bought a new stake in shares of 3M during the 1st quarter valued at about $165,986,000. National Bank of Canada FI boosted its position in shares of 3M by 218.3% during the 1st quarter. National Bank of Canada FI now owns 1,489,351 shares of the conglomerate’s stock valued at $147,344,000 after acquiring an additional 1,021,440 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of 3M by 1,015.6% during the 1st quarter. Janus Henderson Group PLC now owns 888,564 shares of the conglomerate’s stock valued at $94,247,000 after acquiring an additional 808,914 shares during the last quarter. Electron Capital Partners LLC bought a new stake in shares of 3M during the 2nd quarter valued at about $76,732,000. Finally, Bank of New York Mellon Corp boosted its position in shares of 3M by 11.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,065,242 shares of the conglomerate’s stock valued at $517,617,000 after acquiring an additional 533,520 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

3M Price Performance

Shares of 3M stock opened at $135.75 on Friday. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.36 and a quick ratio of 1.08. The business’s 50 day simple moving average is $132.45 and its two-hundred day simple moving average is $112.30. The stock has a market capitalization of $75.12 billion, a P/E ratio of -10.67, a price-to-earnings-growth ratio of 2.49 and a beta of 0.95. 3M has a one year low of $71.12 and a one year high of $140.72.

3M (NYSE:MMM) last announced its quarterly earnings results on Friday, July 26th. The conglomerate reported $1.93 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $5.85 billion. During the same period in the previous year, the firm earned $2.17 EPS. Analysts forecast that 3M will post 7.24 EPS for the current year.

3M Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.80 annualized dividend and a dividend yield of 2.06%. 3M’s dividend payout ratio (DPR) is presently -22.01%.

Insider Activity

In other news, CFO Theresa E. Reinseth sold 2,100 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total transaction of $260,652.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Theresa E. Reinseth sold 2,100 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total transaction of $260,652.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Michael F. Roman sold 5,675 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total value of $700,635.50. Following the transaction, the chairman now directly owns 174,036 shares in the company, valued at $21,486,484.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Mizuho lifted their price target on 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research report on Thursday. Citigroup boosted their target price on 3M from $100.00 to $133.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Wells Fargo & Company boosted their target price on 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Bank of America boosted their target price on 3M from $120.00 to $143.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, Barclays boosted their target price on 3M from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, 3M has a consensus rating of “Hold” and an average target price of $130.57.

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.