3M (NYSE:MMM) Stock Holdings Lessened by Bay Colony Advisory Group Inc d b a Bay Colony Advisors

Bay Colony Advisory Group Inc d b a Bay Colony Advisors reduced its position in shares of 3M (NYSE:MMM) by 22.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 2,501 shares of the conglomerate’s stock after selling 727 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in 3M were worth $256,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in MMM. Tributary Capital Management LLC acquired a new stake in 3M during the 1st quarter valued at $25,000. Financial Synergies Wealth Advisors Inc. raised its stake in 3M by 419.1% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock valued at $26,000 after purchasing an additional 197 shares during the period. MFA Wealth Advisors LLC acquired a new stake in 3M during the 2nd quarter valued at $28,000. Northwest Investment Counselors LLC acquired a new stake in 3M during the 1st quarter valued at $32,000. Finally, TruNorth Capital Management LLC purchased a new position in shares of 3M during the 2nd quarter valued at $33,000. 65.25% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on MMM. Barclays boosted their price target on shares of 3M from $120.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Royal Bank of Canada upped their price objective on shares of 3M from $93.00 to $95.00 and gave the stock an “underperform” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upgraded shares of 3M from a “hold” rating to a “buy” rating and upped their price objective for the stock from $110.00 to $150.00 in a report on Monday, July 29th. Wolfe Research upgraded shares of 3M from a “peer perform” rating to an “outperform” rating and set a $125.00 price target for the company in a report on Thursday, June 13th. Finally, Bank of America upped their price target on shares of 3M from $120.00 to $143.00 and gave the company a “buy” rating in a report on Monday, July 29th. One 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 MarketBeat, the stock has an average rating of “Hold” and an average price target of $123.57.

3M Stock Up 1.5 %

Shares of MMM opened at $130.54 on Friday. The company has a 50-day simple moving average of $112.44 and a 200-day simple moving average of $102.27. The firm has a market capitalization of $72.24 billion, a P/E ratio of -10.26, a P/E/G ratio of 2.34 and a beta of 0.95. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.08 and a current ratio of 1.36. 3M has a 52 week low of $71.12 and a 52 week high of $130.65.

3M (NYSE:MMM) last posted its quarterly earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $6.26 billion during the quarter, compared to analyst estimates of $5.85 billion. During the same quarter in the prior year, the business posted $2.17 earnings per share. On average, equities research analysts expect that 3M will post 7.21 earnings per share for the current 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 paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Monday, August 26th. This represents a $2.80 annualized dividend and a yield of 2.14%. 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.