3M Company $MMM Stock Holdings Decreased by Caitlin John LLC

Key Points

• Caitlin John LLC reduced its stake in 3M Company by 53.1% in the 1st quarter, now holding 3,161 shares valued at $464,000.
• 3M recently announced a quarterly dividend of $0.73 per share, resulting in an annualized yield of 1.8% and a payout ratio of 40.61%.
• Wall Street analysts maintain an average "Hold" rating for 3M, with price targets ranging from $160.00 to $170.00 issued by several firms.

Caitlin John LLC lowered its stake in 3M Company (NYSE:MMM - Free Report) by 53.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 3,161 shares of the conglomerate's stock after selling 3,579 shares during the period. Caitlin John LLC's holdings in 3M were worth $464,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. REAP Financial Group LLC increased its position in shares of 3M by 88.7% in the 4th quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate's stock worth $26,000 after purchasing an additional 94 shares during the last quarter. Pinney & Scofield Inc. bought a new position in 3M during the fourth quarter worth $28,000. Caitong International Asset Management Co. Ltd bought a new position in 3M during the first quarter worth $28,000. Curat Global LLC bought a new position in 3M during the first quarter worth $29,000. Finally, Intelligent Financial Strategies bought a new position in 3M during the first quarter worth $42,000. Institutional investors own 65.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a report on Thursday, August 14th. Citigroup lifted their price target on shares of 3M from $141.00 to $160.00 and gave the company a "neutral" rating in a report on Friday, May 30th. JPMorgan Chase & Co. set a $167.00 price target on shares of 3M in a report on Friday, July 18th. Barclays set a $170.00 price target on shares of 3M in a report on Friday, July 18th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating on shares of 3M in a report on Friday, July 18th. Seven analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, 3M has an average rating of "Hold" and an average price target of $158.10.

Insider Transactions at 3M

In other news, insider Christian T. Goralski, Jr. sold 6,165 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $150.18, for a total value of $925,859.70. Following the completion of the sale, the insider directly owned 2,900 shares of the company's stock, valued at approximately $435,522. This represents a 68.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Theresa E. Reinseth sold 3,477 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $150.63, for a total transaction of $523,740.51. Following the completion of the sale, the chief accounting officer directly owned 2,561 shares of the company's stock, valued at approximately $385,763.43. This represents a 57.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.34% of the company's stock.

3M Trading Up 2.7%

3M stock opened at $158.5790 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.72 and a debt-to-equity ratio of 2.87. The firm has a 50-day moving average price of $152.00 and a two-hundred day moving average price of $147.29. The firm has a market capitalization of $84.46 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 2.99 and a beta of 1.05. 3M Company has a 52-week low of $121.98 and a 52-week high of $164.15.

3M (NYSE:MMM - Get Free Report) last posted its earnings results on Friday, July 18th. The conglomerate reported $2.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.01 by $0.15. The firm had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.09 billion. 3M had a net margin of 16.01% and a return on equity of 96.48%. 3M's revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.93 EPS. Sell-side analysts expect that 3M Company will post 7.8 earnings per share for the current year.

3M Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Monday, August 25th will be paid a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 1.8%. 3M's payout ratio is 40.61%.

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.

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