Clark & Stuart Inc Trims Position in 3M Company (NYSE:MMM)

Clark & Stuart Inc reduced its stake in 3M Company (NYSE:MMM - Free Report) by 22.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 57,355 shares of the conglomerate's stock after selling 16,649 shares during the period. 3M makes up 6.1% of Clark & Stuart Inc's portfolio, making the stock its 5th largest holding. Clark & Stuart Inc's holdings in 3M were worth $8,423,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Walter & Keenan Wealth Management LLC IN ADV increased its holdings in shares of 3M by 1.6% in the 1st quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 6,928 shares of the conglomerate's stock worth $1,017,000 after buying an additional 112 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of 3M by 3.5% in the 1st quarter. Blue Trust Inc. now owns 32,769 shares of the conglomerate's stock worth $4,812,000 after buying an additional 1,101 shares during the last quarter. Silver Oak Securities Incorporated increased its holdings in shares of 3M by 30.5% in the 1st quarter. Silver Oak Securities Incorporated now owns 3,951 shares of the conglomerate's stock worth $572,000 after buying an additional 923 shares during the last quarter. ORG Wealth Partners LLC increased its holdings in shares of 3M by 542.1% in the 1st quarter. ORG Wealth Partners LLC now owns 777 shares of the conglomerate's stock worth $115,000 after buying an additional 656 shares during the last quarter. Finally, Johnson Investment Counsel Inc. increased its holdings in shares of 3M by 9.7% in the 1st quarter. Johnson Investment Counsel Inc. now owns 38,466 shares of the conglomerate's stock worth $5,649,000 after buying an additional 3,388 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors.

Insider Transactions at 3M

In other news, EVP John Patrick Banovetz sold 7,759 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The shares were 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 now owns 31,372 shares of the company's stock, valued at approximately $4,654,663.64. This represents a 19.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Zoe L. Dickson sold 7,915 shares of the company's stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly 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 disclosure for this sale can be found here. Corporate insiders own 0.34% of the company's stock.

3M Price Performance

3M stock opened at $142.43 on Friday. The stock has a market cap of $76.65 billion, a price-to-earnings ratio of 17.98, a price-to-earnings-growth ratio of 2.96 and a beta of 1.03. The company has a debt-to-equity ratio of 2.72, a current ratio of 1.66 and a quick ratio of 1.25. 3M Company has a 1 year low of $98.26 and a 1 year high of $156.35. The firm has a 50-day moving average of $142.95 and a two-hundred day moving average of $142.05.

3M (NYSE:MMM - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $5.80 billion during the quarter, compared to analysts' expectations of $5.78 billion. 3M had a net margin of 17.79% and a return on equity of 96.19%. On average, research analysts forecast that 3M Company will post 7.8 earnings per share for the current year.

3M Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were given a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 2.05%. 3M's payout ratio is presently 36.87%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a report on Wednesday, June 11th. Barclays boosted their target price on shares of 3M from $160.00 to $164.00 and gave the stock an "overweight" rating in a report on Wednesday, April 23rd. JPMorgan Chase & Co. lifted their price target on shares of 3M from $140.00 to $167.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Bank of America lifted their price target on shares of 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Finally, Royal Bank Of Canada lifted their price target on shares of 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a research note on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $155.83.

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.

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