GTS Securities LLC Decreases Stock Position in 3M (NYSE:MMM)

GTS Securities LLC lessened its holdings in shares of 3M (NYSE:MMM - Free Report) by 98.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,122 shares of the conglomerate's stock after selling 186,955 shares during the period. GTS Securities LLC's holdings in 3M were worth $274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Brighton Jones LLC grew its position in shares of 3M by 26.6% in the fourth quarter. Brighton Jones LLC now owns 8,898 shares of the conglomerate's stock valued at $1,149,000 after purchasing an additional 1,872 shares during the period. Robeco Institutional Asset Management B.V. grew its position in shares of 3M by 16.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 637,499 shares of the conglomerate's stock valued at $82,295,000 after purchasing an additional 88,225 shares during the period. Allen Capital Group LLC lifted its stake in shares of 3M by 8.9% in the fourth quarter. Allen Capital Group LLC now owns 3,741 shares of the conglomerate's stock worth $483,000 after buying an additional 305 shares in the last quarter. Crews Bank & Trust purchased a new position in shares of 3M in the fourth quarter worth about $931,000. Finally, Gilbert & Cook Inc. lifted its stake in shares of 3M by 1.5% in the fourth quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate's stock worth $659,000 after buying an additional 73 shares in the last quarter. Hedge funds and other institutional investors own 65.25% of the company's stock.

Insider Buying and Selling at 3M

In other 3M news, EVP John Patrick Banovetz sold 7,759 shares of the company'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 sale, the executive vice president now owns 31,372 shares in the company, valued at approximately $4,654,663.64. The trade was a 19.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Zoe L. Dickson sold 7,915 shares of the stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 6,127 shares of the company's stock, valued at approximately $913,045.54. This trade 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 Stock Down 1.0%

Shares of NYSE MMM traded down $1.43 during mid-day trading on Friday, reaching $148.20. 5,339,771 shares of the company's stock were exchanged, compared to its average volume of 3,893,398. The firm has a market capitalization of $79.76 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 3.30 and a beta of 1.02. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. The business has a fifty day simple moving average of $141.33 and a 200 day simple moving average of $140.69. 3M has a twelve month low of $97.68 and a twelve month high of $156.35.

3M (NYSE:MMM - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.78 billion. As a group, equities analysts expect that 3M will post 7.8 EPS for the current fiscal year.

3M Announces Dividend

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

Analysts Set New Price Targets

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