3M Company (NYSE:MMM) Shares Sold by Lbp Am Sa

LBP AM SA cut its stake in shares of 3M Company (NYSE:MMM - Free Report) by 3.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 153,986 shares of the conglomerate's stock after selling 6,038 shares during the period. LBP AM SA's holdings in 3M were worth $22,614,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Wayfinding Financial LLC purchased a new stake in shares of 3M during the fourth quarter worth $851,000. Ensign Peak Advisors Inc grew its holdings in shares of 3M by 29.2% during the fourth quarter. Ensign Peak Advisors Inc now owns 642,354 shares of the conglomerate's stock worth $82,921,000 after buying an additional 145,146 shares in the last quarter. Allstate Corp purchased a new stake in shares of 3M during the fourth quarter worth $2,101,000. Synergy Asset Management LLC grew its holdings in shares of 3M by 122.7% during the first quarter. Synergy Asset Management LLC now owns 4,512 shares of the conglomerate's stock worth $663,000 after buying an additional 2,486 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its holdings in shares of 3M by 59.8% during the fourth quarter. Teacher Retirement System of Texas now owns 747,954 shares of the conglomerate's stock worth $96,553,000 after buying an additional 280,015 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MMM shares. JPMorgan Chase & Co. upped their target price on shares of 3M from $140.00 to $167.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Citigroup upped their price objective on shares of 3M from $141.00 to $160.00 and gave the company a "neutral" rating in a report on Friday, May 30th. Royal Bank Of Canada upped their price objective on shares of 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a report on Wednesday, April 23rd. Barclays upped their price objective on shares of 3M from $164.00 to $170.00 and gave the company an "overweight" rating in a report on Wednesday. Finally, Wells Fargo & Company upped their price objective on shares of 3M from $150.00 to $170.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Two analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $156.33.

Insider Activity

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

3M Trading Up 0.9%

NYSE MMM traded up $1.34 during trading hours on Thursday, reaching $157.32. The company had a trading volume of 4,043,356 shares, compared to its average volume of 3,809,914. The stock has a 50-day moving average of $147.95 and a 200 day moving average of $144.32. 3M Company has a 1-year low of $100.87 and a 1-year high of $159.42. The company has a current ratio of 1.66, a quick ratio of 1.25 and a debt-to-equity ratio of 2.72. The stock has a market capitalization of $84.66 billion, a P/E ratio of 19.86, a price-to-earnings-growth ratio of 3.05 and a beta of 1.02.

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

3M Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 1.86%. 3M's dividend payout ratio is presently 36.87%.

3M Company 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.