Etesian Wealth Advisors Inc. Sells 1,667 Shares of 3M (NYSE:MMM)

Etesian Wealth Advisors Inc. lowered its stake in 3M (NYSE:MMM) by 26.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,728 shares of the conglomerate’s stock after selling 1,667 shares during the period. Etesian Wealth Advisors Inc.’s holdings in 3M were worth $646,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Tributary Capital Management LLC purchased a new position in 3M in the 1st quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. increased its stake in shares of 3M by 419.1% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock worth $26,000 after buying an additional 197 shares during the period. MFA Wealth Advisors LLC bought a new stake in 3M during the 2nd quarter valued at $28,000. Daymark Wealth Partners LLC boosted its position in 3M by 8.6% during the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock valued at $30,000 after buying an additional 17,211 shares during the period. Finally, Meeder Asset Management Inc. grew its holdings in 3M by 689.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 269 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

3M Stock Performance

Shares of NYSE:MMM traded down $0.54 during midday trading on Friday, reaching $135.14. 2,791,646 shares of the company’s stock traded hands, compared to its average volume of 4,893,641. 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 one year low of $71.12 and a one year high of $140.72. The company has a market cap of $74.78 billion, a price-to-earnings ratio of -10.62, a P/E/G ratio of 2.49 and a beta of 0.95. The stock has a 50 day moving average of $132.67 and a 200 day moving average of $112.59.

3M (NYSE:MMM) last announced its quarterly earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.25. 3M had a net margin of 3.08% and a return on equity of 112.92%. The firm had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $5.85 billion. During the same quarter last year, the firm posted $2.17 EPS. As a group, equities research analysts anticipate that 3M will post 7.24 EPS for the current fiscal year.

3M Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 26th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Monday, August 26th. 3M’s payout ratio is currently -22.01%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Bank of America upped their price objective on shares of 3M from $120.00 to $143.00 and gave the company a “buy” 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 boosted their price target for the company from $110.00 to $150.00 in a research report on Monday, July 29th. StockNews.com cut 3M from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Royal Bank of Canada increased their price target on shares of 3M from $93.00 to $95.00 and gave the stock an “underperform” rating in a research note on Monday, July 29th. Finally, Morgan Stanley started coverage on shares of 3M in a research note on Friday, September 6th. They set an “underweight” rating and a $125.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $130.57.

Insider Activity at 3M

In other 3M news, Chairman Michael F. Roman sold 5,675 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total value of $700,635.50. Following the transaction, the chairman now directly owns 174,036 shares of the company’s stock, valued at approximately $21,486,484.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Chairman Michael F. Roman sold 5,675 shares of 3M stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total transaction of $700,635.50. Following the transaction, the chairman now directly owns 174,036 shares in the company, valued at approximately $21,486,484.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Theresa E. Reinseth sold 2,100 shares of 3M 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 transaction, the chief financial officer now directly owns 4,364 shares in the company, valued at $541,659.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

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.