3M (NYSE:MMM) Holdings Decreased by Baxter Bros Inc.

Baxter Bros Inc. cut its position in shares of 3M (NYSE:MMM) by 1.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,616 shares of the conglomerate’s stock after selling 408 shares during the quarter. Baxter Bros Inc.’s holdings in 3M were worth $3,775,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. grew its position in shares of 3M by 13.2% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 13,712 shares of the conglomerate’s stock valued at $1,454,000 after buying an additional 1,601 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of 3M by 5.2% during the first quarter. Daiwa Securities Group Inc. now owns 129,654 shares of the conglomerate’s stock valued at $13,752,000 after purchasing an additional 6,412 shares during the last quarter. Summit Financial Wealth Advisors LLC grew its holdings in shares of 3M by 6.5% during the first quarter. Summit Financial Wealth Advisors LLC now owns 84,949 shares of the conglomerate’s stock valued at $9,011,000 after purchasing an additional 5,167 shares during the last quarter. Hudock Inc. raised its position in shares of 3M by 20.2% during the 1st quarter. Hudock Inc. now owns 8,641 shares of the conglomerate’s stock worth $917,000 after purchasing an additional 1,453 shares during the period. Finally, Mutual Advisors LLC lifted its holdings in shares of 3M by 33.4% in the 1st quarter. Mutual Advisors LLC now owns 16,461 shares of the conglomerate’s stock worth $1,746,000 after purchasing an additional 4,122 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Chairman Michael F. Roman sold 5,675 shares of the firm’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 transaction of $700,635.50. Following the completion of the sale, the chairman now directly owns 174,036 shares in the company, valued at approximately $21,486,484.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Chairman Michael F. Roman sold 5,675 shares of the 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 sale, the chairman now owns 174,036 shares in the company, valued at approximately $21,486,484.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Theresa E. Reinseth sold 2,100 shares of the 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 sale, the chief financial officer now owns 4,364 shares of the company’s stock, valued at $541,659.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on MMM shares. Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. upped their price target on shares of 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. StockNews.com downgraded shares of 3M from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Mizuho upped their target price on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada raised their price target on shares of 3M from $99.00 to $100.00 and gave the company an “underperform” rating in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, 3M currently has a consensus rating of “Hold” and an average price target of $139.27.

3M Stock Performance

Shares of NYSE MMM opened at $127.22 on Friday. 3M has a 1 year low of $75.40 and a 1 year high of $141.34. The firm has a market cap of $69.28 billion, a P/E ratio of 16.06, a PEG ratio of 2.07 and a beta of 0.95. The stock has a fifty day moving average price of $133.00 and a two-hundred day moving average price of $115.31. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43.

3M (NYSE:MMM) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.05. The business had revenue of $6.29 billion during the quarter, compared to analysts’ expectations of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. The company’s quarterly revenue was down 24.3% on a year-over-year basis. During the same quarter last year, the business posted $2.68 earnings per share. Research analysts forecast that 3M will post 7.28 EPS for the current fiscal year.

3M Dividend Announcement

The firm also recently disclosed 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 was Monday, August 26th. This represents a $2.80 annualized dividend and a dividend yield of 2.20%. 3M’s dividend payout ratio is currently 35.35%.

About 3M

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.