Great Valley Advisor Group Inc. Lowers Stock Position in 3M (NYSE:MMM)

Great Valley Advisor Group Inc. trimmed its position in shares of 3M (NYSE:MMM - Free Report) by 15.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,179 shares of the conglomerate's stock after selling 3,407 shares during the period. Great Valley Advisor Group Inc.'s holdings in 3M were worth $2,347,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Ameriflex Group Inc. acquired a new position in 3M during the fourth quarter worth $105,000. Sunbeam Capital Management LLC acquired a new stake in shares of 3M in the fourth quarter valued at $250,000. Ascent Group LLC raised its stake in shares of 3M by 20.5% in the fourth quarter. Ascent Group LLC now owns 3,827 shares of the conglomerate's stock valued at $494,000 after acquiring an additional 651 shares in the last quarter. Vermillion Wealth Management Inc. acquired a new stake in shares of 3M in the fourth quarter valued at $91,000. Finally, AlphaCore Capital LLC acquired a new stake in shares of 3M in the fourth quarter valued at $498,000. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related 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 transaction, the executive vice president now owns 6,127 shares of the company's stock, valued at $913,045.54. This trade represents a 56.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 now directly owns 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. Corporate insiders own 0.34% of the company's stock.

Wall Street Analysts Forecast Growth

MMM has been the topic of several analyst reports. JPMorgan Chase & Co. increased 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 increased their price objective on 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research note on Wednesday, April 23rd. Citigroup increased their price objective on 3M from $141.00 to $160.00 and gave the company a "neutral" rating in a research note on Friday. Barclays increased their price objective 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 reiterated a "hold (c+)" rating on shares of 3M in a research note 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 given a buy rating to the company's stock. Based on data from MarketBeat, 3M currently has an average rating of "Moderate Buy" and an average price target of $153.46.

3M Stock Performance

NYSE MMM traded down $1.43 on Friday, reaching $148.20. The stock had a trading volume of 5,339,771 shares, compared to its average volume of 3,893,398. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. 3M has a 12-month low of $97.68 and a 12-month high of $156.35. The business's 50-day moving average price is $141.33 and its 200 day moving average price is $140.75. The stock has a market cap of $79.76 billion, a P/E ratio of 19.63, a price-to-earnings-growth ratio of 3.30 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 earnings per share for the quarter, beating analysts' consensus estimates of $1.77 by $0.11. 3M had a return on equity of 100.77% and a net margin of 15.71%. The company had revenue of $5.80 billion during the quarter, compared to analysts' expectations of $5.78 billion. As a group, equities analysts expect that 3M will post 7.8 earnings per share for the current year.

3M Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.97%. 3M's dividend payout ratio is currently 36.87%.

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.