3M (NYSE:MMM) Shares Sold by UMB Bank n.a.

UMB Bank n.a. lowered its stake in 3M (NYSE:MMM) by 6.0% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,237 shares of the conglomerate’s stock after selling 1,303 shares during the quarter. UMB Bank n.a.’s holdings in 3M were worth $2,766,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Biltmore Family Office LLC lifted its holdings in 3M by 1.9% in the 4th quarter. Biltmore Family Office LLC now owns 14,977 shares of the conglomerate’s stock valued at $1,637,000 after purchasing an additional 275 shares in the last quarter. Bontempo Ohly Capital Mgmt LLC raised its position in shares of 3M by 10.1% in the fourth quarter. Bontempo Ohly Capital Mgmt LLC now owns 19,759 shares of the conglomerate’s stock valued at $2,160,000 after buying an additional 1,818 shares during the last quarter. Gallagher Fiduciary Advisors LLC lifted its stake in shares of 3M by 10.4% during the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 24,288 shares of the conglomerate’s stock valued at $2,655,000 after buying an additional 2,279 shares during the period. Grayhawk Investment Strategies Inc. acquired a new stake in 3M during the fourth quarter worth approximately $319,000. Finally, Financial Network Wealth Advisors LLC purchased a new stake in 3M in the 4th quarter worth approximately $399,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MMM shares. StockNews.com lowered 3M from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Barclays increased their target price on 3M from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Argus upgraded 3M from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised shares of 3M from a “hold” rating to a “buy” rating and upped their price objective for the company from $110.00 to $150.00 in a research note on Monday, July 29th. Finally, Morgan Stanley began coverage on shares of 3M in a report on Friday, September 6th. They issued an “underweight” rating and a $125.00 target price for the company. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, 3M has an average rating of “Hold” and an average price target of $127.64.

3M Stock Performance

NYSE:MMM opened at $133.46 on Friday. The firm’s fifty day simple moving average is $131.20 and its 200 day simple moving average is $111.08. The company has a current ratio of 1.36, a quick ratio of 1.08 and a debt-to-equity ratio of 2.95. 3M has a twelve month low of $71.12 and a twelve month high of $140.72. The firm has a market capitalization of $73.32 billion, a price-to-earnings ratio of 78.51, a PEG ratio of 2.49 and a beta of 0.95.

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

3M Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.10%. 3M’s dividend payout ratio is currently 164.71%.

Insider Transactions at 3M

In related news, CFO Theresa E. Reinseth sold 2,100 shares of the firm’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 4,364 shares of the company’s stock, valued at approximately $541,659.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Chairman Michael F. Roman sold 5,675 shares of the business’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 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 legal filing with the SEC, which can be accessed through this link. Also, CFO Theresa E. Reinseth sold 2,100 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total value of $260,652.00. Following the sale, the chief financial officer now owns 4,364 shares of the company’s stock, valued at approximately $541,659.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

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.