IFP Advisors Inc Trims Position in 3M Company (NYSE:MMM)

IFP Advisors Inc lessened its position in 3M Company (NYSE:MMM - Free Report) by 36.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,960 shares of the conglomerate's stock after selling 3,371 shares during the period. IFP Advisors Inc's holdings in 3M were worth $875,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. REAP Financial Group LLC boosted its stake 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 purchasing an additional 94 shares in the last quarter. Curat Global LLC bought a new stake in shares of 3M during the 1st quarter valued at about $29,000. Hazlett Burt & Watson Inc. bought a new stake in shares of 3M during the 4th quarter valued at about $27,000. Pinney & Scofield Inc. bought a new stake in shares of 3M during the 4th quarter valued at about $28,000. Finally, Intelligent Financial Strategies bought a new stake in shares of 3M during the 1st quarter valued at about $42,000. Institutional investors own 65.25% of the company's stock.

Insider Activity at 3M

In other news, EVP John Patrick Banovetz sold 7,759 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $148.37, for a total transaction of $1,151,202.83. Following the completion of the transaction, the executive vice president directly owned 31,372 shares of the company's stock, valued at $4,654,663.64. The trade was a 19.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Zoe L. Dickson sold 7,915 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $149.02, for a total transaction of $1,179,493.30. Following the transaction, the executive vice president directly owned 6,127 shares of the company's stock, valued at $913,045.54. The trade was a 56.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on MMM shares. Citigroup lifted 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. Royal Bank Of Canada lifted their price target on shares of 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. set a $167.00 price target on shares of 3M in a research report on Friday, July 18th. Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a research report on Saturday, July 12th. Finally, Barclays set a $170.00 price target on shares of 3M in a research report on Friday, July 18th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, 3M has a consensus rating of "Moderate Buy" and a consensus target price of $156.33.

3M Stock Up 1.3%

3M stock traded up $1.97 during trading hours on Friday, hitting $151.27. The stock had a trading volume of 2,779,195 shares, compared to its average volume of 3,903,910. The company has a quick ratio of 1.20, a current ratio of 1.72 and a debt-to-equity ratio of 2.87. The stock's 50-day moving average price is $150.03 and its 200-day moving average price is $146.02. 3M Company has a 12-month low of $112.68 and a 12-month high of $164.15. The stock has a market capitalization of $80.57 billion, a P/E ratio of 21.04, a price-to-earnings-growth ratio of 3.04 and a beta of 1.02.

3M (NYSE:MMM - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The conglomerate reported $2.16 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.15. 3M had a net margin of 16.01% and a return on equity of 96.48%. The firm had revenue of $6.16 billion during the quarter, compared to analysts' expectations of $6.09 billion. During the same period in the previous year, the company earned $1.93 earnings per share. The firm's quarterly revenue was up 1.4% on a year-over-year basis. Equities 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 issued a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 1.93%. 3M's payout ratio is 40.61%.

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.