Larson Financial Group LLC Sells 2,032 Shares of 3M Company (NYSE:MMM)

Larson Financial Group LLC cut its holdings in shares of 3M Company (NYSE:MMM - Free Report) by 8.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 21,287 shares of the conglomerate's stock after selling 2,032 shares during the period. Larson Financial Group LLC's holdings in 3M were worth $3,126,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of MMM. REAP Financial Group LLC lifted its holdings in 3M by 88.7% in the 4th quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate's stock valued at $26,000 after purchasing an additional 94 shares in the last quarter. Hazlett Burt & Watson Inc. acquired a new stake in 3M in the 4th quarter valued at approximately $27,000. Pinney & Scofield Inc. acquired a new position in 3M during the 4th quarter worth about $28,000. Curat Global LLC acquired a new position in shares of 3M in the first quarter valued at approximately $29,000. Finally, Meeder Asset Management Inc. increased its position in shares of 3M by 230.1% during the fourth quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate's stock worth $40,000 after acquiring an additional 214 shares during the period. Hedge funds and other institutional investors own 65.25% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a research note on Saturday, July 12th. Royal Bank Of Canada boosted their target price on shares of 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a research report on Wednesday, April 23rd. Citigroup boosted their price objective on shares of 3M from $141.00 to $160.00 and gave the stock a "neutral" rating in a research report on Friday, May 30th. JPMorgan Chase & Co. lifted their price objective on 3M from $140.00 to $167.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Finally, Wells Fargo & Company raised their price target on 3M from $150.00 to $170.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, 3M currently has an average rating of "Moderate Buy" and an average price target of $156.33.

Insider Buying and Selling at 3M

In other 3M news, EVP Zoe L. Dickson sold 7,915 shares of the company'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 completion of the transaction, the executive vice president owned 6,127 shares in the company, valued at approximately $913,045.54. This represents a 56.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John Patrick Banovetz sold 7,759 shares of the business's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $148.37, for a total value of $1,151,202.83. Following the completion of the sale, the executive vice president directly owned 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. 0.34% of the stock is owned by company insiders.

3M Stock Up 0.8%

Shares of MMM stock traded up $1.19 during trading hours on Thursday, reaching $158.75. The company had a trading volume of 2,687,172 shares, compared to its average volume of 3,802,361. The company has a market capitalization of $85.44 billion, a P/E ratio of 20.04, a price-to-earnings-growth ratio of 3.05 and a beta of 1.02. 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 twelve month low of $101.77 and a twelve month high of $159.47. The stock's fifty day simple moving average is $149.32 and its 200 day simple moving average is $145.05.

3M (NYSE:MMM - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share for the quarter, beating analysts' consensus estimates of $1.77 by $0.11. The business had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.78 billion. 3M had a net margin of 17.79% and a return on equity of 96.19%. As a group, sell-side analysts expect that 3M Company will post 7.8 earnings per share for the current fiscal year.

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were paid a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 1.84%. 3M's dividend payout ratio (DPR) is 36.87%.

3M 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.