3M (NYSE:MMM) Shares Sold by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC lowered its holdings in 3M (NYSE:MMM) by 1.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,367 shares of the conglomerate’s stock after selling 81 shares during the period. Mount Yale Investment Advisors LLC’s holdings in 3M were worth $855,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Balyasny Asset Management L.P. grew its position in shares of 3M by 313.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,650,961 shares of the conglomerate’s stock worth $289,803,000 after buying an additional 2,010,319 shares in the last quarter. Capital World Investors purchased a new stake in shares of 3M in the 1st quarter valued at approximately $165,986,000. National Bank of Canada FI raised its holdings in shares of 3M by 218.3% in the 1st quarter. National Bank of Canada FI now owns 1,489,351 shares of the conglomerate’s stock valued at $147,344,000 after purchasing an additional 1,021,440 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of 3M by 1,015.6% during the first quarter. Janus Henderson Group PLC now owns 888,564 shares of the conglomerate’s stock worth $94,247,000 after purchasing an additional 808,914 shares in the last quarter. Finally, Schroder Investment Management Group increased its holdings in 3M by 129.8% in the fourth quarter. Schroder Investment Management Group now owns 1,352,528 shares of the conglomerate’s stock valued at $147,858,000 after buying an additional 764,066 shares during the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at 3M

In other news, CFO Theresa E. Reinseth sold 2,100 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total value 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman Michael F. Roman sold 5,675 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total value of $700,635.50. Following the sale, the chairman now owns 174,036 shares in the company, valued at approximately $21,486,484.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Theresa E. Reinseth sold 2,100 shares of 3M stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total value of $260,652.00. Following the transaction, the chief financial officer now directly owns 4,364 shares of the company’s stock, valued at $541,659.68. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MMM. Deutsche Bank Aktiengesellschaft raised 3M from a “hold” rating to a “buy” rating and lifted their price target for the stock from $110.00 to $150.00 in a report on Monday, July 29th. Royal Bank of Canada upped their price target on 3M from $93.00 to $95.00 and gave the company an “underperform” rating in a report on Monday, July 29th. Wolfe Research raised shares of 3M from a “peer perform” rating to an “outperform” rating and set a $125.00 price objective on the stock in a report on Thursday, June 13th. Argus upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a report on Tuesday, July 30th. Finally, Bank of America lifted their price target on shares of 3M from $120.00 to $143.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $124.43.

3M Stock Up 0.6 %

3M stock opened at $135.64 on Tuesday. The stock has a 50 day moving average of $125.29 and a two-hundred day moving average of $108.32. 3M has a twelve month low of $71.12 and a twelve month high of $136.09. The stock has a market capitalization of $75.06 billion, a price-to-earnings ratio of -10.66, a PEG ratio of 2.41 and a beta of 0.95. 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 (NYSE:MMM) last posted its quarterly earnings data on Friday, July 26th. The conglomerate reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.25. The firm had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.85 billion. 3M had a net margin of 3.08% and a return on equity of 112.92%. During the same period last year, the firm posted $2.17 EPS. As a group, research analysts expect that 3M will post 7.22 earnings per share for the current 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 given a $0.70 dividend. The ex-dividend date was Monday, August 26th. This represents a $2.80 dividend on an annualized basis and a yield of 2.06%. 3M’s payout ratio is currently -22.01%.

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.