Hills Bank & Trust Co Sells 395 Shares of 3M (NYSE:MMM)

Hills Bank & Trust Co cut its stake in 3M (NYSE:MMM) by 14.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,304 shares of the conglomerate’s stock after selling 395 shares during the quarter. Hills Bank & Trust Co’s holdings in 3M were worth $315,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Mission Wealth Management LP raised its holdings in 3M by 58.2% in the first quarter. Mission Wealth Management LP now owns 7,422 shares of the conglomerate’s stock worth $787,000 after purchasing an additional 2,731 shares in the last quarter. StoneX Group Inc. bought a new position in shares of 3M during the 1st quarter worth approximately $1,162,000. PDS Planning Inc raised its stake in shares of 3M by 12.3% during the 1st quarter. PDS Planning Inc now owns 3,287 shares of the conglomerate’s stock worth $349,000 after acquiring an additional 359 shares in the last quarter. Sippican Capital Advisors lifted its position in 3M by 73.8% during the first quarter. Sippican Capital Advisors now owns 21,046 shares of the conglomerate’s stock valued at $2,232,000 after acquiring an additional 8,936 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its stake in 3M by 13.2% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 13,712 shares of the conglomerate’s stock valued at $1,454,000 after acquiring an additional 1,601 shares in the last quarter. 65.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MMM. StockNews.com lowered 3M from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Mizuho increased their price target on 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. raised their price target on 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Wells Fargo & Company upped their price objective on shares of 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Finally, 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 research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $139.27.

3M Stock Down 1.0 %

MMM stock opened at $127.22 on Friday. The company has a market capitalization of $69.28 billion, a P/E ratio of 16.06, a price-to-earnings-growth ratio of 2.06 and a beta of 0.95. 3M has a 12 month low of $75.40 and a 12 month high of $141.34. The firm’s fifty day simple moving average is $133.00 and its 200-day simple moving average is $115.14. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.43 and a quick ratio of 1.08.

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

3M Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 26th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.20%. The ex-dividend date was Monday, August 26th. 3M’s dividend payout ratio is currently 35.35%.

Insider Buying and Selling at 3M

In other news, CFO Theresa E. Reinseth sold 2,100 shares of the firm’s stock in a transaction that occurred 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, 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 transaction of $260,652.00. Following the sale, the chief financial officer now directly owns 4,364 shares of the company’s stock, valued at approximately $541,659.68. This 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 this hyperlink. Also, Chairman Michael F. Roman sold 5,675 shares of the firm’s stock in a transaction 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 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 disclosure for this sale can be found here. 0.34% of the stock is currently 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.