3M Company (NYSE:MMM) Shares Sold by Diversified Trust Co

Diversified Trust Co trimmed its position in shares of 3M Company (NYSE:MMM - Free Report) by 30.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,269 shares of the conglomerate's stock after selling 7,027 shares during the period. Diversified Trust Co's holdings in 3M were worth $2,389,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC increased its holdings in shares of 3M by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 11,574,414 shares of the conglomerate's stock worth $1,493,655,000 after buying an additional 280,048 shares during the last quarter. Northern Trust Corp increased its holdings in shares of 3M by 12.6% during the 4th quarter. Northern Trust Corp now owns 6,752,944 shares of the conglomerate's stock worth $871,738,000 after buying an additional 755,155 shares during the last quarter. Capital World Investors increased its holdings in 3M by 25.4% in the 4th quarter. Capital World Investors now owns 6,153,924 shares of the conglomerate's stock valued at $794,410,000 after purchasing an additional 1,248,093 shares in the last quarter. Norges Bank acquired a new stake in 3M in the 4th quarter valued at $636,767,000. Finally, Invesco Ltd. increased its holdings in 3M by 51.6% in the 4th quarter. Invesco Ltd. now owns 4,468,549 shares of the conglomerate's stock valued at $576,845,000 after purchasing an additional 1,520,619 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Stock Performance

Shares of MMM stock opened at $152.19 on Friday. The company has a debt-to-equity ratio of 2.72, a quick ratio of 1.25 and a current ratio of 1.66. 3M Company has a one year low of $98.26 and a one year high of $156.35. The company's 50-day simple moving average is $144.83 and its 200-day simple moving average is $142.76. The stock has a market capitalization of $81.90 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 3.13 and a beta of 1.03.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 EPS for the quarter, topping the consensus estimate of $1.77 by $0.11. 3M had a net margin of 17.79% and a return on equity of 96.19%. The business had revenue of $5.80 billion for the quarter, compared to analysts' expectations of $5.78 billion. Equities analysts anticipate that 3M Company will post 7.8 earnings per share for the current fiscal year.

3M Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 1.92%. 3M's payout ratio is 36.87%.

Insider Transactions at 3M

In other 3M news, EVP Zoe L. Dickson sold 7,915 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $149.02, for a total value of $1,179,493.30. Following the transaction, the executive vice president now owns 6,127 shares of the company's stock, valued at $913,045.54. This trade represents a 56.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John Patrick Banovetz sold 7,759 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $148.37, for a total transaction of $1,151,202.83. Following the completion of the transaction, the executive vice president now directly owns 31,372 shares in the company, valued at $4,654,663.64. This represents a 19.83% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MMM shares. Weiss Ratings reiterated a "hold (c+)" rating on shares of 3M in a report on Friday. JPMorgan Chase & Co. increased their price target on 3M from $140.00 to $167.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Barclays increased their price target on 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a report on Wednesday, April 23rd. Royal Bank Of Canada increased their price target on 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a report on Wednesday, April 23rd. Finally, Citigroup increased their price target on 3M from $141.00 to $160.00 and gave the company a "neutral" rating in a report on Friday, May 30th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, 3M presently has a consensus rating of "Moderate Buy" and a consensus price target of $155.83.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.