Members Trust Co Sells 148 Shares of 3M (NYSE:MMM)

Members Trust Co lessened its position in shares of 3M (NYSE:MMM) by 4.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,337 shares of the conglomerate’s stock after selling 148 shares during the period. Members Trust Co’s holdings in 3M were worth $431,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in MMM. Exchange Traded Concepts LLC lifted its holdings in shares of 3M by 1,450.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 2,419 shares of the conglomerate’s stock worth $331,000 after acquiring an additional 2,263 shares during the period. Creative Planning increased its position in 3M by 1.0% during the 3rd quarter. Creative Planning now owns 153,238 shares of the conglomerate’s stock worth $20,948,000 after purchasing an additional 1,475 shares in the last quarter. Cornerstone Wealth Management LLC increased its position in 3M by 12.0% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 10,606 shares of the conglomerate’s stock worth $1,450,000 after purchasing an additional 1,139 shares in the last quarter. Hengehold Capital Management LLC acquired a new position in 3M during the 3rd quarter worth approximately $228,000. Finally, Global Retirement Partners LLC increased its position in 3M by 104.0% during the 3rd quarter. Global Retirement Partners LLC now owns 12,754 shares of the conglomerate’s stock worth $1,743,000 after purchasing an additional 6,503 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Michael F. Roman sold 45,276 shares of the stock in a transaction on 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 transaction, the chairman now directly owns 175,718 shares of the company’s stock, valued at $26,359,457.18. This represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the firm’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 transaction, the insider now directly owns 5,024 shares in the company, valued at $750,736.32. This trade represents a 55.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,639 shares of company stock valued at $17,163,446 over the last ninety days. 0.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on MMM shares. UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $130.00 to $184.00 in a research report on Wednesday, November 13th. Royal Bank of Canada reiterated an “underperform” rating and set a $96.00 price objective on shares of 3M in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. upped their price objective on shares of 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Bank of America upped their price target on shares of 3M from $160.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Finally, Citigroup upped their price target on shares of 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $148.87.

3M Trading Down 0.0 %

NYSE:MMM opened at $148.65 on Friday. The firm’s fifty day moving average is $138.49 and its 200-day moving average is $133.62. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. 3M has a 52 week low of $75.40 and a 52 week high of $155.00. The firm has a market cap of $80.70 billion, a P/E ratio of 19.69, a P/E/G ratio of 3.37 and a beta of 0.96.

3M (NYSE:MMM) last posted its quarterly earnings data 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 net margin of 15.71% and a return on equity of 100.77%. The company had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.77 billion. During the same period in the prior year, the firm posted $2.42 EPS. The company’s quarterly revenue was down 25.0% on a year-over-year basis. Equities analysts expect that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 14th will be paid a dividend of $0.73 per share. The ex-dividend date is Friday, February 14th. This is a positive change from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a yield of 1.96%. 3M’s dividend payout ratio is currently 37.09%.

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.