Tradewinds LLC. Sells 188 Shares of 3M (NYSE:MMM)

Tradewinds LLC. reduced its stake in 3M (NYSE:MMM) by 7.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,434 shares of the conglomerate’s stock after selling 188 shares during the period. Tradewinds LLC.’s holdings in 3M were worth $314,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MMM. Financial Life Planners bought a new stake in 3M in the 4th quarter valued at about $25,000. Proficio Capital Partners LLC bought a new stake in shares of 3M during the fourth quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. acquired a new position in shares of 3M during the fourth quarter worth approximately $27,000. Daymark Wealth Partners LLC lifted its holdings in shares of 3M by 9.0% in the 4th quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 19,552 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its position in 3M by 230.1% in the 4th quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate’s stock valued at $40,000 after purchasing an additional 214 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Stock Performance

NYSE MMM opened at $147.74 on Wednesday. The company has a market capitalization of $79.68 billion, a PE ratio of 19.57, a price-to-earnings-growth ratio of 3.30 and a beta of 0.97. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. 3M has a 52-week low of $89.54 and a 52-week high of $156.35. The company has a 50-day simple moving average of $149.73 and a 200 day simple moving average of $138.49.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.02. 3M had a net margin of 15.71% and a return on equity of 100.77%. The company had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.77 billion. During the same quarter last year, the business posted $2.42 EPS. 3M’s quarterly revenue was down 25.0% compared to the same quarter last year. On average, research analysts predict that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th were paid a dividend of $0.73 per share. This is an increase from 3M’s previous quarterly dividend of $0.70. The ex-dividend date was Friday, February 14th. This represents a $2.92 annualized dividend and a dividend yield of 1.98%. 3M’s dividend payout ratio is presently 38.68%.

Analyst Ratings Changes

Several research analysts have weighed in on MMM shares. Bank of America upped their price objective on shares of 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Barclays raised their price target on shares of 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Citigroup boosted their price objective on 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Weiss Ratings restated a “hold (c+)” rating on shares of 3M in a report on Saturday, March 22nd. Finally, Royal Bank of Canada reiterated an “underperform” rating and set a $96.00 price target on shares of 3M in a report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, 3M has an average rating of “Moderate Buy” and a consensus target price of $149.13.

Insider Buying and Selling

In related news, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $150.25, for a total value of $247,161.25. Following the completion of the transaction, the insider now directly owns 5,153 shares of the company’s stock, valued at approximately $774,238.25. This trade represents a 24.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Theresa E. Reinseth sold 2,309 shares of the business’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $149.95, for a total transaction of $346,234.55. Following the sale, the chief accounting officer now directly owns 4,417 shares in the company, valued at $662,329.15. The trade was a 34.33 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,639 shares of company stock valued at $17,163,446. 0.34% of the stock is owned by insiders.

About 3M

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.