Financial Counselors Inc. Has $3.35 Million Stock Position in 3M Company (NYSE:MMM)

Financial Counselors Inc. reduced its stake in shares of 3M Company (NYSE:MMM - Free Report) by 22.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,810 shares of the conglomerate's stock after selling 6,449 shares during the quarter. Financial Counselors Inc.'s holdings in 3M were worth $3,350,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of MMM. Proficio Capital Partners LLC acquired a new stake in shares of 3M during the 4th quarter worth $26,000. REAP Financial Group LLC grew its holdings in shares of 3M by 88.7% during 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 in the last quarter. Hazlett Burt & Watson Inc. acquired a new stake in shares of 3M during the 4th quarter worth $27,000. Pinney & Scofield Inc. acquired a new stake in shares of 3M during the 4th quarter worth $28,000. Finally, Curat Global LLC bought a new stake in shares of 3M during the 1st quarter worth $29,000. 65.25% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at 3M

In other news, EVP Zoe L. Dickson sold 7,915 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president directly owned 6,127 shares in the company, valued at $913,045.54. This trade represents a 56.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Patrick Banovetz sold 7,759 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president owned 31,372 shares of the company's stock, valued at $4,654,663.64. This trade represents a 19.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Barclays upped their price objective on 3M from $164.00 to $170.00 and gave the stock an "overweight" rating in a research report on Wednesday. Royal Bank Of Canada upped their price objective on 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a research report on Wednesday, April 23rd. Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a research report on Friday, June 27th. Citigroup upped their price objective on 3M from $141.00 to $160.00 and gave the stock a "neutral" rating in a research report on Friday, May 30th. Finally, Wells Fargo & Company upped their price objective on 3M from $150.00 to $170.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Two analysts have rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, 3M has a consensus rating of "Moderate Buy" and an average price target of $156.33.

3M Trading Up 1.5%

Shares of MMM stock traded up $2.32 during mid-day trading on Wednesday, reaching $156.06. 2,807,830 shares of the stock traded hands, compared to its average volume of 3,807,822. The stock's fifty day simple moving average is $147.22 and its two-hundred day simple moving average is $144.04. 3M Company has a 1-year low of $98.26 and a 1-year high of $156.61. The company has a market cap of $83.99 billion, a price-to-earnings ratio of 19.70, a price-to-earnings-growth ratio of 2.97 and a beta of 1.02. The company has a quick ratio of 1.25, a current ratio of 1.66 and a debt-to-equity ratio of 2.72.

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

3M Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.87%. 3M's dividend payout ratio (DPR) is 36.87%.

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.