D.A. Davidson & CO. Sells 24,179 Shares of 3M Company (NYSE:MMM)

D.A. Davidson & CO. decreased its position in 3M Company (NYSE:MMM - Free Report) by 18.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 107,033 shares of the conglomerate's stock after selling 24,179 shares during the period. D.A. Davidson & CO.'s holdings in 3M were worth $15,719,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Proficio Capital Partners LLC bought a new stake in 3M in the 4th quarter valued at $26,000. REAP Financial Group LLC boosted its position in shares of 3M by 88.7% during the 4th quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate's stock valued at $26,000 after acquiring an additional 94 shares in the last quarter. Hazlett Burt & Watson Inc. bought a new stake in 3M in the fourth quarter valued at about $27,000. Pinney & Scofield Inc. acquired a new position in 3M in the fourth quarter worth about $28,000. Finally, Curat Global LLC bought a new position in 3M during the first quarter worth about $29,000. Institutional investors own 65.25% of the company's stock.

3M Price Performance

Shares of MMM stock opened at $152.23 on Friday. 3M Company has a 1 year low of $98.26 and a 1 year high of $156.35. The company has a current ratio of 1.66, a quick ratio of 1.25 and a debt-to-equity ratio of 2.72. The firm's 50 day moving average is $146.33 and its 200-day moving average is $143.41. The firm has a market capitalization of $81.92 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 3.01 and a beta of 1.02.

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

3M Announces Dividend

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

Analyst Ratings Changes

MMM has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their target price on 3M from $140.00 to $167.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Royal Bank Of Canada upped their price target on 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research report on Wednesday, April 23rd. Bank of America lifted their price objective on 3M from $175.00 to $179.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Barclays upped 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. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a report on Friday, June 27th. Two analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, 3M has a consensus rating of "Moderate Buy" and an average target price of $155.83.

Insider Activity

In related news, EVP John Patrick Banovetz sold 7,759 shares of the 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Zoe L. Dickson sold 7,915 shares of 3M stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $149.02, for a total value of $1,179,493.30. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.34% of the company's stock.

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.

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