Centaurus Financial Inc. Sells 145 Shares of 3M (NYSE:MMM)

Centaurus Financial Inc. decreased its position in shares of 3M (NYSE:MMM) by 4.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,128 shares of the conglomerate’s stock after selling 145 shares during the quarter. Centaurus Financial Inc.’s holdings in 3M were worth $320,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Fortis Capital Advisors LLC boosted its position in shares of 3M by 2.9% during the second quarter. Fortis Capital Advisors LLC now owns 3,001 shares of the conglomerate’s stock worth $307,000 after purchasing an additional 84 shares in the last quarter. Brown Brothers Harriman & Co. lifted its holdings in 3M by 0.4% during the second quarter. Brown Brothers Harriman & Co. now owns 22,613 shares of the conglomerate’s stock worth $2,311,000 after acquiring an additional 97 shares in the last quarter. AMG National Trust Bank grew its stake in 3M by 3.1% in the second quarter. AMG National Trust Bank now owns 3,326 shares of the conglomerate’s stock valued at $340,000 after acquiring an additional 100 shares during the period. Platinum Investment Management Ltd. grew its stake in 3M by 11.4% in the first quarter. Platinum Investment Management Ltd. now owns 1,020 shares of the conglomerate’s stock valued at $108,000 after acquiring an additional 104 shares during the period. Finally, Geneos Wealth Management Inc. increased its holdings in shares of 3M by 2.0% in the first quarter. Geneos Wealth Management Inc. now owns 5,302 shares of the conglomerate’s stock worth $562,000 after acquiring an additional 105 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.

Insider Buying and Selling

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

3M Stock Up 0.4 %

MMM stock opened at $135.27 on Friday. The company has a market cap of $74.85 billion, a price-to-earnings ratio of -10.63, a P/E/G ratio of 2.51 and a beta of 0.95. 3M has a twelve month low of $71.12 and a twelve month high of $140.72. The business has a 50 day moving average price of $130.70 and a two-hundred day moving average price of $110.51. The company has a quick ratio of 1.08, a current ratio of 1.36 and a debt-to-equity ratio of 2.95.

3M (NYSE:MMM) last released its earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.25. 3M had a net margin of 3.08% and a return on equity of 112.92%. The business had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $5.85 billion. During the same period last year, the business earned $2.17 earnings per share. Analysts anticipate that 3M will post 7.22 EPS for the current fiscal year.

3M Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MMM shares. Argus upgraded 3M from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a research report on Tuesday, July 30th. Royal Bank of Canada upped their price target on shares of 3M from $93.00 to $95.00 and gave the company an “underperform” rating in a report on Monday, July 29th. Barclays raised their price objective on shares of 3M from $145.00 to $160.00 and gave the stock an “overweight” rating in a report on Wednesday. Bank of America upped their target price 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. Finally, Morgan Stanley initiated coverage on 3M in a research note on Friday, September 6th. They issued an “underweight” rating and a $125.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $125.50.

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.