Jamison Private Wealth Management Inc. Sells 134 Shares of 3M (NYSE:MMM)

Jamison Private Wealth Management Inc. trimmed its stake in shares of 3M (NYSE:MMM) by 4.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,230 shares of the conglomerate’s stock after selling 134 shares during the quarter. Jamison Private Wealth Management Inc.’s holdings in 3M were worth $441,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Tributary Capital Management LLC acquired a new stake in shares of 3M during the 1st quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. lifted its position in 3M by 419.1% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock worth $26,000 after acquiring an additional 197 shares during the last quarter. MFA Wealth Advisors LLC bought a new stake in shares of 3M during the second quarter worth approximately $28,000. Northwest Investment Counselors LLC acquired a new position in shares of 3M in the first quarter valued at approximately $32,000. Finally, Meeder Asset Management Inc. increased its stake in shares of 3M by 689.7% during the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 269 shares during the period. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other 3M news, CFO Theresa E. Reinseth sold 2,100 shares of the 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 completion of the transaction, the chief financial officer now directly owns 4,364 shares in the company, valued at approximately $541,659.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other 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 transaction, the chief financial officer now owns 4,364 shares in the company, valued at approximately $541,659.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Michael F. Roman sold 5,675 shares of the stock in a transaction 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 completion of the sale, the chairman now owns 174,036 shares of the company’s stock, valued at $21,486,484.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on MMM. Citigroup boosted their price target on 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft upgraded shares of 3M from a “hold” rating to a “buy” rating and upped their price target for the company from $110.00 to $150.00 in a research note on Monday, July 29th. Wells Fargo & Company lifted their price objective on shares of 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Royal Bank of Canada increased their target price on shares of 3M from $93.00 to $95.00 and gave the stock an “underperform” rating in a research report on Monday, July 29th. Finally, Morgan Stanley started coverage on shares of 3M in a research report on Friday, September 6th. They issued an “underweight” rating and a $125.00 price target for the company. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, 3M has an average rating of “Hold” and an average target price of $127.64.

3M Price Performance

3M stock opened at $135.75 on Wednesday. The stock has a fifty day moving average of $131.97 and a 200-day moving average of $111.97. 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. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.08 and a current ratio of 1.36. 3M has a 52 week low of $71.12 and a 52 week high of $140.72.

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 the consensus estimate of $5.85 billion. 3M had a net margin of 3.08% and a return on equity of 112.92%. During the same period last year, the company posted $2.17 EPS. On average, sell-side analysts expect that 3M will post 7.24 earnings per share for the current fiscal year.

3M Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date was Monday, August 26th. 3M’s payout ratio is -22.01%.

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.