Hudock Inc. Sells 6,928 Shares of 3M Company (NYSE:MMM)

Hudock Inc. decreased its holdings in shares of 3M Company (NYSE:MMM - Free Report) by 78.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,899 shares of the conglomerate's stock after selling 6,928 shares during the period. Hudock Inc.'s holdings in 3M were worth $279,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of MMM. Geode Capital Management LLC raised its stake in 3M by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 11,574,414 shares of the conglomerate's stock worth $1,493,655,000 after acquiring an additional 280,048 shares during the period. Northern Trust Corp raised its position 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 purchasing an additional 755,155 shares during the period. Capital World Investors lifted its holdings in shares of 3M by 25.4% in the 4th quarter. Capital World Investors now owns 6,153,924 shares of the conglomerate's stock worth $794,410,000 after purchasing an additional 1,248,093 shares during the last quarter. Norges Bank acquired a new position in 3M during the 4th quarter valued at approximately $636,767,000. Finally, Invesco Ltd. boosted its position in 3M by 51.6% during 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 during the period. 65.25% of the stock is owned by institutional investors and hedge funds.

3M Trading Up 1.0%

MMM traded up $1.65 during trading on Thursday, reaching $159.21. The company had a trading volume of 4,889,340 shares, compared to its average volume of 3,820,639. The firm's 50-day simple moving average is $149.32 and its 200 day simple moving average is $145.05. The company has a debt-to-equity ratio of 2.72, a quick ratio of 1.25 and a current ratio of 1.66. The company has a market cap of $85.68 billion, a price-to-earnings ratio of 20.10, a PEG ratio of 3.05 and a beta of 1.02. 3M Company has a 12-month low of $101.77 and a 12-month high of $159.47.

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

3M Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were paid a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 1.83%. 3M's dividend payout ratio is currently 36.87%.

Insider Transactions at 3M

In related news, EVP Zoe L. Dickson sold 7,915 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $149.02, for a total transaction of $1,179,493.30. Following the transaction, the executive vice president directly owned 6,127 shares of the company's stock, valued at approximately $913,045.54. The trade was a 56.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP John Patrick Banovetz sold 7,759 shares of 3M stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $148.37, for a total transaction of $1,151,202.83. Following the sale, the executive vice president directly owned 31,372 shares of the company's stock, valued at $4,654,663.64. This trade represents a 19.83% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.34% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MMM. Barclays reiterated an "overweight" rating on shares of 3M in a research note on Thursday. JPMorgan Chase & Co. boosted their target price on shares of 3M from $140.00 to $167.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Citigroup raised their price target on shares of 3M from $141.00 to $160.00 and gave the company a "neutral" rating in a research note on Friday, May 30th. Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a research report on Saturday, July 12th. Finally, Royal Bank Of Canada boosted their price target on 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a research report on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $156.33.

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.