Trillium Asset Management LLC Sells 78 Shares of 3M (NYSE:MMM)

Trillium Asset Management LLC lessened its position in 3M (NYSE:MMM) by 1.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,391 shares of the conglomerate’s stock after selling 78 shares during the period. Trillium Asset Management LLC’s holdings in 3M were worth $567,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MMM. Xponance Inc. increased its holdings in shares of 3M by 1.0% in the 4th quarter. Xponance Inc. now owns 96,536 shares of the conglomerate’s stock worth $12,462,000 after purchasing an additional 971 shares in the last quarter. Intech Investment Management LLC boosted its position in shares of 3M by 30.4% during the fourth quarter. Intech Investment Management LLC now owns 87,856 shares of the conglomerate’s stock valued at $11,341,000 after buying an additional 20,471 shares during the last quarter. Generali Asset Management SPA SGR purchased a new position in 3M in the 4th quarter worth about $5,107,000. Evoke Wealth LLC lifted its stake in 3M by 3.2% during the 4th quarter. Evoke Wealth LLC now owns 12,202 shares of the conglomerate’s stock valued at $1,575,000 after acquiring an additional 373 shares during the period. Finally, Kennondale Capital Management LLC purchased a new stake in shares of 3M during the 4th quarter valued at about $2,751,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Insider Buying and Selling

In other news, Chairman Michael F. Roman sold 49,598 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $152.30, for a total transaction of $7,553,775.40. Following the sale, the chairman now directly owns 180,895 shares of the company’s stock, valued at $27,550,308.50. This represents a 21.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the business’s stock in a transaction on Friday, January 24th. The stock was 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 owns 5,024 shares in the company, valued at $750,736.32. This represents a 55.70 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,639 shares of company stock worth $17,163,446. 0.34% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MMM shares. JPMorgan Chase & Co. boosted their price objective on shares of 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of 3M in a report on Friday, March 7th. Wells Fargo & Company raised 3M from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $140.00 to $170.00 in a report on Wednesday, January 22nd. Bank of America increased their target price on 3M from $175.00 to $179.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Finally, Royal Bank of Canada restated an “underperform” rating and set a $96.00 price target on shares of 3M in a research note on Thursday, February 27th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $149.13.

3M Trading Up 1.5 %

Shares of 3M stock opened at $153.20 on Thursday. 3M has a fifty-two week low of $85.62 and a fifty-two week high of $156.35. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The company has a market capitalization of $83.17 billion, a P/E ratio of 20.29, a P/E/G ratio of 3.30 and a beta of 0.97. The company has a fifty day moving average of $147.62 and a 200 day moving average of $137.26.

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

3M Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th were issued a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Friday, February 14th. This is an increase from 3M’s previous quarterly dividend of $0.70. 3M’s payout ratio is 38.68%.

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.