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Lbp Am Sa Sells 6,038 Shares of 3M Company (NYSE:MMM)

3M logo with Multi-Sector Conglomerates background

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

Several other institutional investors also recently bought and sold shares of MMM. LaSalle St. Investment Advisors LLC grew its holdings in 3M by 2.5% during the 4th quarter. LaSalle St. Investment Advisors LLC now owns 2,951 shares of the conglomerate's stock valued at $381,000 after buying an additional 71 shares during the last quarter. TCV Trust & Wealth Management Inc. grew its holdings in 3M by 1.1% during the 1st quarter. TCV Trust & Wealth Management Inc. now owns 6,497 shares of the conglomerate's stock valued at $954,000 after purchasing an additional 73 shares in the last quarter. NBT Bank N A NY lifted its stake in shares of 3M by 0.8% in the first quarter. NBT Bank N A NY now owns 9,744 shares of the conglomerate's stock worth $1,431,000 after acquiring an additional 79 shares in the last quarter. Rehmann Capital Advisory Group increased its stake in shares of 3M by 2.6% in the first quarter. Rehmann Capital Advisory Group now owns 3,272 shares of the conglomerate's stock worth $481,000 after buying an additional 82 shares during the last quarter. Finally, Cherry Creek Investment Advisors Inc. increased its holdings in 3M by 0.8% in the first quarter. Cherry Creek Investment Advisors Inc. now owns 10,775 shares of the conglomerate's stock valued at $1,582,000 after buying an additional 83 shares during the last quarter. 65.25% of the stock is owned by institutional investors and hedge funds.

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 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 sale, the executive vice president owned 31,372 shares of the company's stock, valued at approximately $4,654,663.64. This represents a 19.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Zoe L. Dickson sold 7,915 shares of 3M 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 owned 6,127 shares of the company's stock, valued at approximately $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. Corporate insiders own 0.34% of the company's stock.

Wall Street Analyst Weigh In

MMM has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price objective on 3M from $140.00 to $167.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Barclays lifted their price target on 3M from $164.00 to $170.00 and gave the company an "overweight" rating in a report on Wednesday. Weiss Ratings reiterated a "hold (c+)" rating on shares of 3M in a report on Friday, June 27th. Citigroup upped their price target on 3M from $141.00 to $160.00 and gave the stock a "neutral" rating in a research note on Friday, May 30th. Finally, Wells Fargo & Company boosted their price objective on shares of 3M from $150.00 to $170.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $156.33.

Check Out Our Latest Stock Analysis on 3M

3M Price Performance

3M stock traded down $1.59 during mid-day trading on Friday, reaching $155.73. 2,401,071 shares of the company were exchanged, compared to its average volume of 3,804,303. The firm has a market cap of $83.81 billion, a PE ratio of 19.66, a PEG ratio of 3.05 and a beta of 1.02. The company has a debt-to-equity ratio of 2.72, a current ratio of 1.66 and a quick ratio of 1.25. The company has a fifty day simple moving average of $147.95 and a 200-day simple moving average of $144.32. 3M Company has a 12 month low of $100.87 and a 12 month high of $159.47.

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

3M Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were paid a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.88%. 3M's dividend payout ratio is currently 36.87%.

3M Company Profile

(Free Report)

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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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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