Calamos Advisors LLC Sells 13,170 Shares of 3M Company (NYSE:MMM)

Calamos Advisors LLC lowered its stake in shares of 3M Company (NYSE:MMM - Free Report) by 8.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 147,985 shares of the conglomerate's stock after selling 13,170 shares during the quarter. Calamos Advisors LLC's holdings in 3M were worth $21,733,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MMM. Norges Bank bought a new position in 3M during the fourth quarter worth $636,767,000. 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 buying an additional 1,520,619 shares during the period. D1 Capital Partners L.P. bought a new stake in 3M in the 4th quarter valued at $175,110,000. 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 buying an additional 1,248,093 shares during the period. Finally, Amundi increased its holdings in 3M by 55.7% in the 4th quarter. Amundi now owns 2,511,095 shares of the conglomerate's stock valued at $337,815,000 after buying an additional 898,244 shares during the period. Institutional investors own 65.25% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a report on Friday, June 27th. Wells Fargo & Company boosted their price target on shares of 3M from $150.00 to $170.00 and gave the company an "overweight" rating in a report on Tuesday. Citigroup boosted their price target on shares of 3M from $141.00 to $160.00 and gave the company a "neutral" rating in a report on Friday, May 30th. Royal Bank Of Canada boosted their price target on shares of 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. upped their target price on shares of 3M from $140.00 to $167.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $155.83.

3M Price Performance

Shares of MMM traded down $1.75 during trading hours on Friday, hitting $152.23. The stock had a trading volume of 3,182,854 shares, compared to its average volume of 3,807,701. 3M Company has a 52 week low of $98.26 and a 52 week high of $156.35. The company's fifty day moving average is $146.63 and its two-hundred day moving average is $143.70. The company has a debt-to-equity ratio of 2.72, a current ratio of 1.66 and a quick ratio of 1.25. The stock has a market capitalization of $81.92 billion, a price-to-earnings ratio of 19.22, a P/E/G ratio of 2.99 and a beta of 1.02.

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

3M Announces Dividend

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

Insider Transactions at 3M

In other 3M news, EVP Zoe L. Dickson sold 7,915 shares of the stock in a transaction dated 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 sale, the executive vice president owned 6,127 shares of the company's stock, valued at $913,045.54. This represents a 56.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John Patrick Banovetz sold 7,759 shares of the 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 sale, the executive vice president directly owned 31,372 shares in the company, valued at approximately $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 corporate insiders.

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.