3M (NYSE:MMM) Stock Holdings Lessened by Calton & Associates Inc.

Calton & Associates Inc. cut its stake in shares of 3M (NYSE:MMM) by 18.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,207 shares of the conglomerate’s stock after selling 500 shares during the period. Calton & Associates Inc.’s holdings in 3M were worth $226,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of MMM. Octavia Wealth Advisors LLC purchased a new stake in shares of 3M in the 4th quarter valued at approximately $205,000. Rakuten Securities Inc. purchased a new position in shares of 3M during the fourth quarter valued at $159,000. Telos Capital Management Inc. raised its position in 3M by 133.2% during the fourth quarter. Telos Capital Management Inc. now owns 6,838 shares of the conglomerate’s stock valued at $748,000 after buying an additional 3,906 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its position in 3M by 4.4% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 8,287 shares of the conglomerate’s stock worth $906,000 after acquiring an additional 346 shares during the period. Finally, HF Advisory Group LLC grew its stake in 3M by 6.7% during the 4th quarter. HF Advisory Group LLC now owns 2,328 shares of the conglomerate’s stock valued at $255,000 after acquiring an additional 146 shares in the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at 3M

In related news, CFO Theresa E. Reinseth sold 2,100 shares of the firm’s stock in a transaction dated 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 owns 4,364 shares in the company, valued at $541,659.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other 3M news, CFO Theresa E. Reinseth sold 2,100 shares of 3M 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 owns 4,364 shares of the company’s stock, valued at approximately $541,659.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Michael F. Roman sold 5,675 shares of 3M stock in a transaction 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 directly owns 174,036 shares of the company’s stock, valued at $21,486,484.56. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Citigroup increased their price target on shares of 3M from $100.00 to $133.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. StockNews.com cut shares of 3M from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Wells Fargo & Company upped their price target on shares of 3M from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft raised 3M from a “hold” rating to a “buy” rating and boosted their price target for the company from $110.00 to $150.00 in a research note on Monday, July 29th. Finally, Barclays increased their price target on 3M from $120.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $123.57.

3M Price Performance

MMM stock traded down $0.11 during trading on Friday, hitting $127.05. 3,812,693 shares of the stock traded hands, compared to its average volume of 5,347,996. The company has a current ratio of 1.36, a quick ratio of 1.08 and a debt-to-equity ratio of 2.95. The stock has a market cap of $70.30 billion, a price-to-earnings ratio of -9.99, a P/E/G ratio of 2.34 and a beta of 0.95. 3M has a one year low of $71.12 and a one year high of $128.65. The company has a 50 day simple moving average of $109.69 and a 200 day simple moving average of $101.13.

3M (NYSE:MMM) last posted 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. The company had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.85 billion. 3M had a return on equity of 112.92% and a net margin of 3.08%. During the same quarter in the previous year, the firm earned $2.17 earnings per share. Equities analysts expect that 3M will post 7.21 EPS for the current fiscal year.

3M Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Monday, August 26th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.20%. 3M’s dividend payout ratio is -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.