Intellectus Partners LLC Cuts Stake in 3M (NYSE:MMM)

Intellectus Partners LLC decreased its holdings in 3M (NYSE:MMM - Free Report) by 16.1% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,232 shares of the conglomerate's stock after selling 1,769 shares during the period. Intellectus Partners LLC's holdings in 3M were worth $1,356,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Proficio Capital Partners LLC purchased a new stake in 3M during the 4th quarter valued at $26,000. REAP Financial Group LLC boosted its position in 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 buying an additional 94 shares during the period. Hazlett Burt & Watson Inc. purchased a new stake in 3M during the 4th quarter valued at $27,000. Pinney & Scofield Inc. purchased a new stake in 3M during the 4th quarter valued at $28,000. Finally, Curat Global LLC purchased a new stake in 3M during the 1st quarter valued at $29,000. Hedge funds and other institutional investors own 65.25% of the company's stock.

3M Stock Down 0.5%

Shares of 3M stock opened at $146.08 on Friday. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The company has a 50-day moving average of $141.22 and a 200 day moving average of $141.13. The firm has a market cap of $78.62 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 3.30 and a beta of 1.02. 3M has a 1 year low of $98.16 and a 1 year high of $156.35.

3M (NYSE:MMM - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 EPS for the quarter, beating 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 company had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.78 billion. As a group, sell-side analysts anticipate that 3M will post 7.8 earnings per share for the current fiscal year.

3M Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 2.00%. 3M's dividend payout ratio (DPR) is 36.87%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a research report on Saturday, May 24th. Royal Bank of Canada increased 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. Barclays upped their price objective on shares of 3M from $160.00 to $164.00 and gave the stock an "overweight" rating in a report on Wednesday, April 23rd. JPMorgan Chase & Co. upped their price objective on shares of 3M from $140.00 to $167.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Finally, Citigroup upped their price objective on shares of 3M from $141.00 to $160.00 and gave the stock a "neutral" rating in a report on Friday, May 30th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $153.46.

Insider Activity at 3M

In other news, EVP John Patrick Banovetz sold 7,759 shares of the firm's stock in a transaction dated 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 sale, the executive vice president now owns 31,372 shares of the company's stock, valued at $4,654,663.64. This trade represents a 19.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Zoe L. Dickson sold 7,915 shares of the firm's stock in a transaction dated 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 sale, the executive vice president now directly owns 6,127 shares in the company, valued at approximately $913,045.54. The trade was a 56.37% decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

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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