Farmers Trust Co. Has $7 Million Position in 3M (NYSE:MMM)

Farmers Trust Co. decreased its position in 3M (NYSE:MMM - Free Report) by 5.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 47,682 shares of the conglomerate's stock after selling 2,612 shares during the quarter. 3M accounts for approximately 1.3% of Farmers Trust Co.'s holdings, making the stock its 19th biggest holding. Farmers Trust Co.'s holdings in 3M were worth $7,003,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Sage Capital Advisors llc grew its holdings in shares of 3M by 2.0% in the 1st quarter. Sage Capital Advisors llc now owns 8,751 shares of the conglomerate's stock worth $1,285,000 after purchasing an additional 171 shares during the last quarter. Legacy Private Trust Co. grew its holdings in shares of 3M by 379.5% in the 1st quarter. Legacy Private Trust Co. now owns 14,758 shares of the conglomerate's stock worth $2,167,000 after purchasing an additional 11,680 shares during the last quarter. Marcum Wealth LLC grew its holdings in shares of 3M by 6.0% in the 1st quarter. Marcum Wealth LLC now owns 2,321 shares of the conglomerate's stock worth $341,000 after purchasing an additional 131 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of 3M by 22.5% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 5,044 shares of the conglomerate's stock worth $741,000 after purchasing an additional 926 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of 3M by 0.4% in the 4th quarter. Wellington Management Group LLP now owns 614,438 shares of the conglomerate's stock worth $79,318,000 after purchasing an additional 2,681 shares during the last quarter. Institutional investors own 65.25% of the company's stock.

Insider Buying and Selling

In related news, EVP John Patrick Banovetz sold 7,759 shares of the business's 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 transaction, the executive vice president now directly owns 31,372 shares in the company, valued at approximately $4,654,663.64. The trade was a 19.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Zoe L. Dickson sold 7,915 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $149.02, for a total transaction of $1,179,493.30. Following the transaction, the executive vice president now owns 6,127 shares in the company, valued at approximately $913,045.54. The trade was a 56.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

Analysts Set New Price Targets

MMM has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of 3M from $140.00 to $167.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Barclays increased their price objective on shares of 3M from $160.00 to $164.00 and gave the stock an "overweight" rating in a report on Wednesday, April 23rd. Royal Bank of Canada increased their price objective on shares of 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a report on Wednesday, April 23rd. Citigroup increased their price objective on shares of 3M from $141.00 to $160.00 and gave the stock a "neutral" rating in a report on Friday. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a report on Saturday, May 24th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, 3M presently has an average rating of "Moderate Buy" and an average target price of $153.46.

3M Trading Down 1.0%

Shares of NYSE MMM traded down $1.43 during mid-day trading on Friday, hitting $148.20. The company's stock had a trading volume of 5,339,771 shares, compared to its average volume of 3,893,398. The stock has a market cap of $79.76 billion, a price-to-earnings ratio of 19.63, a price-to-earnings-growth ratio of 3.30 and a beta of 1.02. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. 3M has a one year low of $97.68 and a one year high of $156.35. The company's fifty day simple moving average is $141.33 and its 200-day simple moving average is $140.69.

3M (NYSE:MMM - Get Free Report) last released its quarterly earnings data 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. 3M had a net margin of 15.71% and a return on equity of 100.77%. The business had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.78 billion. On average, sell-side analysts anticipate that 3M will post 7.8 earnings per share for the current fiscal year.

3M Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be paid a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 1.97%. 3M's payout ratio is 36.87%.

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.