American Investment Services Inc. Sells 15,052 Shares of 3M (NYSE:MMM)

American Investment Services Inc. lowered its stake in shares of 3M (NYSE:MMM - Free Report) by 24.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 47,311 shares of the conglomerate's stock after selling 15,052 shares during the period. 3M makes up 1.1% of American Investment Services Inc.'s investment portfolio, making the stock its 25th biggest holding. American Investment Services Inc.'s holdings in 3M were worth $6,107,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Total Wealth Planning & Management Inc. acquired a new stake in 3M during the fourth quarter valued at approximately $1,741,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in 3M during the fourth quarter valued at approximately $51,289,000. REAP Financial Group LLC boosted its holdings in 3M by 88.7% during the fourth 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. Chelsea Counsel Co. acquired a new stake in 3M during the fourth quarter valued at approximately $2,426,000. Finally, Bernard Wealth Management Corp. bought a new position in shares of 3M in the fourth quarter valued at approximately $52,000. 65.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on MMM shares. Weiss Ratings reiterated a "hold (c+)" rating on shares of 3M in a research note on Saturday, May 24th. JPMorgan Chase & Co. boosted their price objective on shares of 3M from $140.00 to $167.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Barclays boosted their price objective on shares of 3M from $160.00 to $164.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 23rd. Royal Bank of Canada boosted their price objective 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. Finally, Bank of America boosted their price objective on shares of 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Two analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, 3M currently has an average rating of "Moderate Buy" and an average price target of $152.08.

3M Trading Up 0.7%

Shares of 3M stock traded up $1.02 on Thursday, hitting $149.68. 2,621,422 shares of the company's stock traded hands, compared to its average volume of 3,961,563. 3M has a one year low of $96.89 and a one year high of $156.35. The stock has a market capitalization of $80.55 billion, a PE ratio of 19.83, 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. The firm's 50-day moving average price is $141.51 and its two-hundred day moving average price is $140.45.

3M (NYSE:MMM - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.78 billion. On average, research analysts expect that 3M will post 7.8 EPS for the current fiscal year.

3M Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be issued a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.95%. 3M's dividend payout ratio (DPR) is 36.87%.

Insider Activity

In other news, EVP Zoe L. Dickson sold 7,915 shares of the business's stock in a transaction on 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 now owns 6,127 shares of the company's stock, valued at $913,045.54. The trade was a 56.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John Patrick Banovetz sold 7,759 shares of the company's stock in a transaction on 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 of the company's stock, valued at approximately $4,654,663.64. The trade was a 19.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

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.