HHM Wealth Advisors LLC Sells 153 Shares of 3M (NYSE:MMM)

HHM Wealth Advisors LLC lowered its holdings in shares of 3M (NYSE:MMM) by 36.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 263 shares of the conglomerate’s stock after selling 153 shares during the quarter. HHM Wealth Advisors LLC’s holdings in 3M were worth $34,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. D.A. Davidson & CO. boosted its position in 3M by 16.2% during the 3rd quarter. D.A. Davidson & CO. now owns 146,333 shares of the conglomerate’s stock worth $20,004,000 after acquiring an additional 20,421 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of 3M by 26.8% during the 3rd quarter. Franklin Resources Inc. now owns 845,401 shares of the conglomerate’s stock worth $114,770,000 after buying an additional 178,450 shares during the period. Meyer Handelman Co. grew its position in shares of 3M by 1.4% in the fourth quarter. Meyer Handelman Co. now owns 197,618 shares of the conglomerate’s stock valued at $25,511,000 after purchasing an additional 2,678 shares during the last quarter. Ballentine Partners LLC grew its holdings in 3M by 40.1% in the 3rd quarter. Ballentine Partners LLC now owns 18,217 shares of the conglomerate’s stock valued at $2,490,000 after buying an additional 5,210 shares in the last quarter. Finally, Stonegate Investment Group LLC increased its position in 3M by 5.6% during the third quarter. Stonegate Investment Group LLC now owns 252,847 shares of the conglomerate’s stock worth $34,564,000 after acquiring an additional 13,473 shares during the period. Institutional investors own 65.25% of the company’s stock.

Insider Activity at 3M

In related news, insider Christian T. Goralski, Jr. sold 6,318 shares of the company’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $149.43, for a total transaction of $944,098.74. Following the completion of the sale, the insider now directly owns 5,024 shares in the company, valued at $750,736.32. This represents a 55.70 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Theresa E. Reinseth sold 2,309 shares of 3M stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $149.95, for a total value of $346,234.55. Following the completion of the sale, the chief accounting officer now owns 4,417 shares in the company, valued at approximately $662,329.15. This represents a 34.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,639 shares of company stock valued at $17,163,446 over the last three months. 0.38% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MMM. Melius upgraded 3M from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Citigroup upped their target price on 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of 3M in a research note on Saturday. Royal Bank of Canada restated an “underperform” rating and set a $96.00 price target on shares of 3M in a report on Wednesday, January 22nd. Finally, Barclays boosted their price objective on 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, 3M has a consensus rating of “Moderate Buy” and an average target price of $148.87.

3M Price Performance

Shares of NYSE:MMM opened at $150.13 on Tuesday. 3M has a 12 month low of $75.40 and a 12 month high of $155.00. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. The stock has a market cap of $81.76 billion, a P/E ratio of 19.89, a P/E/G ratio of 3.37 and a beta of 0.96. The company has a 50 day moving average of $135.21 and a 200 day moving average of $131.26.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.02. The firm had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The business’s quarterly revenue was down 25.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.42 earnings per share. As a group, sell-side analysts forecast that 3M will post 7.8 EPS for the current fiscal year.

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.