3M (NYSE:MMM) Shares Sold by Mather Group LLC.

Mather Group LLC. decreased its stake in shares of 3M (NYSE:MMM) by 96.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 5,035 shares of the conglomerate’s stock after selling 120,510 shares during the period. Mather Group LLC.’s holdings in 3M were worth $534,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Jade Capital Advisors LLC acquired a new position in shares of 3M in the 4th quarter worth approximately $4,373,000. Scarborough Advisors LLC acquired a new position in shares of 3M in the 4th quarter worth approximately $978,000. KMG Fiduciary Partners LLC grew its stake in shares of 3M by 2.2% in the 1st quarter. KMG Fiduciary Partners LLC now owns 14,769 shares of the conglomerate’s stock worth $1,567,000 after purchasing an additional 311 shares during the last quarter. Norden Group LLC grew its stake in shares of 3M by 1,381.0% in the 1st quarter. Norden Group LLC now owns 65,341 shares of the conglomerate’s stock worth $6,930,000 after purchasing an additional 60,929 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in shares of 3M by 6.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 187,719 shares of the conglomerate’s stock worth $20,521,000 after purchasing an additional 11,528 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Citigroup lifted their price objective on shares of 3M from $100.00 to $133.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Wells Fargo & Company raised their target price on shares of 3M from $100.00 to $110.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 10th. Wolfe Research upgraded shares of 3M from a “peer perform” rating to an “outperform” rating and set a $125.00 target price for the company in a report on Thursday, June 13th. Vertical Research upgraded shares of 3M from a “hold” rating to a “buy” rating and raised their target price for the stock from $92.00 to $140.00 in a report on Thursday, May 16th. Finally, Bank of America raised their target price on shares of 3M from $120.00 to $143.00 and gave the stock a “buy” rating in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $123.57.

3M Stock Up 0.2 %

Shares of MMM stock traded up $0.28 during trading on Tuesday, hitting $124.89. 4,333,467 shares of the company were exchanged, compared to its average volume of 5,462,141. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.08 and a current ratio of 1.36. The firm has a market capitalization of $69.11 billion, a price-to-earnings ratio of -9.87, a P/E/G ratio of 2.34 and a beta of 0.95. The business’s 50-day simple moving average is $104.99 and its 200 day simple moving average is $99.47. 3M has a twelve month low of $71.12 and a twelve month high of $128.65.

3M (NYSE:MMM) last issued its quarterly earnings data 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. 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 quarter last year, the firm earned $2.17 earnings per share. As a group, analysts forecast that 3M will post 7.21 EPS for the current fiscal year.

3M Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Friday, May 24th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend was Thursday, May 23rd. 3M’s payout ratio is presently -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.