Disciplined Equity Management Inc. Sells 15,413 Shares of 3M (NYSE:MMM)

Disciplined Equity Management Inc. cut its stake in shares of 3M (NYSE:MMM - Free Report) by 95.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 765 shares of the conglomerate's stock after selling 15,413 shares during the quarter. Disciplined Equity Management Inc.'s holdings in 3M were worth $112,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Proficio Capital Partners LLC bought a new stake in 3M in the fourth quarter valued at approximately $26,000. REAP Financial Group LLC lifted its position in shares of 3M by 88.7% in the 4th quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate's stock worth $26,000 after purchasing an additional 94 shares during the period. Hazlett Burt & Watson Inc. bought a new stake in shares of 3M in the 4th quarter valued at $27,000. Pinney & Scofield Inc. acquired a new stake in shares of 3M during the fourth quarter worth $28,000. Finally, Curat Global LLC bought a new position in 3M during the first quarter worth $29,000. Institutional investors own 65.25% of the company's stock.

Insider Buying and Selling at 3M

In related news, EVP John Patrick Banovetz sold 7,759 shares of the stock in a transaction on Friday, May 23rd. The stock was 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 directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Zoe L. Dickson sold 7,915 shares of 3M 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 directly owns 6,127 shares in the company, valued at $913,045.54. This represents a 56.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.34% of the company's stock.

3M Price Performance

Shares of NYSE:MMM opened at $145.58 on Friday. 3M has a twelve month low of $98.26 and a twelve month high of $156.35. The stock's 50 day moving average is $141.18 and its 200-day moving average is $141.34. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The firm has a market capitalization of $78.35 billion, a price-to-earnings ratio of 19.28, a PEG ratio of 3.30 and a beta of 1.03.

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 firm had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.78 billion. Sell-side analysts forecast that 3M will post 7.8 EPS for the current fiscal year.

3M Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be given a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 2.01%. 3M's payout ratio is 36.87%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MMM. Citigroup upped their price target on shares of 3M from $141.00 to $160.00 and gave the company a "neutral" rating in a research report on Friday, May 30th. JPMorgan Chase & Co. boosted their price objective on 3M from $140.00 to $167.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Royal Bank of Canada raised their target price on 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a research note on Wednesday, April 23rd. Barclays boosted their price target on 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a research note on Wednesday, April 23rd. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a research report on Saturday, May 24th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $153.46.

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.

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