3M (NYSE:MMM) Shares Sold by Busey Bank

Busey Bank lowered its stake in 3M (NYSE:MMM) by 16.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,998 shares of the conglomerate’s stock after selling 3,167 shares during the quarter. Busey Bank’s holdings in 3M were worth $2,065,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. FSA Wealth Management LLC bought a new stake in 3M in the third quarter worth about $27,000. McClarren Financial Advisors Inc. raised its position in 3M by 118.6% in the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 121 shares in the last quarter. True Wealth Design LLC raised its position in 3M by 2,466.7% in the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock worth $42,000 after acquiring an additional 296 shares in the last quarter. ORG Partners LLC raised its position in 3M by 44.1% in the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after acquiring an additional 98 shares in the last quarter. Finally, Northwest Investment Counselors LLC bought a new stake in 3M in the third quarter worth about $57,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Trading Up 0.1 %

Shares of NYSE:MMM opened at $151.55 on Thursday. The firm has a fifty day moving average of $133.72 and a two-hundred day moving average of $130.23. The firm has a market capitalization of $82.53 billion, a P/E ratio of 20.07, a price-to-earnings-growth ratio of 2.46 and a beta of 0.95. 3M has a 12-month low of $75.40 and a 12-month high of $152.96. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. The business had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. 3M’s revenue for the quarter was down 25.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.42 EPS. On average, equities analysts expect that 3M will post 7.66 EPS for the current fiscal year.

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, November 15th. This represents a $2.80 annualized dividend and a dividend yield of 1.85%. 3M’s payout ratio is 37.09%.

Insider Transactions at 3M

In other news, EVP Kevin H. Rhodes sold 6,743 shares of 3M stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $149.85, for a total transaction of $1,010,438.55. Following the sale, the executive vice president now directly owns 4,902 shares in the company, valued at approximately $734,564.70. The trade was a 57.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of 3M stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $149.43, for a total transaction of $944,098.74. Following the sale, the insider now owns 5,024 shares in the company, valued at approximately $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. In the last 90 days, insiders have sold 62,291 shares of company stock worth $9,339,786. 0.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have commented on MMM shares. Barclays boosted their price target on shares of 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. 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 note on Tuesday, October 22nd. Mizuho lifted their target price on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Weiss Ratings restated a “hold (c)” rating on shares of 3M in a research report on Saturday, January 18th. Finally, Citigroup raised their price objective on shares of 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $148.87.

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.