Flagship Harbor Advisors LLC Has $615,000 Stake in 3M (NYSE:MMM)

Flagship Harbor Advisors LLC cut its stake in 3M (NYSE:MMM) by 13.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,761 shares of the conglomerate’s stock after selling 716 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in 3M were worth $615,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of MMM. State Street Corp raised its position in 3M by 1.1% in the 3rd quarter. State Street Corp now owns 27,194,612 shares of the conglomerate’s stock valued at $3,717,503,000 after buying an additional 302,900 shares during the last quarter. FMR LLC raised its holdings in shares of 3M by 88.7% in the third quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock valued at $1,225,087,000 after purchasing an additional 4,212,409 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of 3M by 1.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,815,625 shares of the conglomerate’s stock valued at $521,596,000 after purchasing an additional 43,942 shares in the last quarter. National Pension Service boosted its holdings in 3M by 14.5% during the third quarter. National Pension Service now owns 1,268,003 shares of the conglomerate’s stock worth $173,336,000 after purchasing an additional 161,036 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in 3M by 11,601.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate’s stock worth $172,416,000 after purchasing an additional 1,250,491 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.

3M Stock Up 1.3 %

Shares of NYSE MMM opened at $151.44 on Tuesday. The firm’s fifty day moving average is $132.83 and its 200 day moving average is $129.55. 3M has a 52 week low of $75.40 and a 52 week high of $152.08. The company has a market cap of $82.47 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 2.46 and a beta of 0.95. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86.

3M (NYSE:MMM) last announced its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The company had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5,770,390 billion. During the same quarter in the prior year, the company earned $2.42 earnings per share. The firm’s revenue for the quarter was down 25.0% on a year-over-year basis. On average, equities research analysts expect that 3M will post 7.66 earnings per share for the current year.

3M Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were given a dividend of $0.70 per share. The ex-dividend date was Friday, November 15th. This represents a $2.80 annualized dividend and a dividend yield of 1.85%. 3M’s dividend payout ratio is presently 37.09%.

Insider Transactions at 3M

In other 3M news, Chairman Michael F. Roman sold 45,276 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $150.01, for a total transaction of $6,791,852.76. Following the completion of the sale, the chairman now directly owns 175,718 shares in the company, valued at approximately $26,359,457.18. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was 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. The trade was a 55.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 53,903 shares of company stock valued at $8,082,186 in the last three months. 0.34% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. UBS Group raised 3M from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $130.00 to $184.00 in a research report on Wednesday, November 13th. Melius Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a report on Tuesday, October 22nd. Bank of America upped their price target on 3M from $160.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Royal Bank of Canada reiterated an “underperform” rating and issued a $96.00 price objective on shares of 3M in a research report on Wednesday, January 22nd. Finally, Mizuho lifted their target price on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $148.87.

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.