Mathes Company Inc. Has $606,000 Stock Position in 3M Company (NYSE:MMM)

Mathes Company Inc. reduced its stake in 3M Company (NYSE:MMM - Free Report) by 40.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,125 shares of the conglomerate's stock after selling 2,850 shares during the quarter. Mathes Company Inc.'s holdings in 3M were worth $606,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MMM shares. Barclays upped their price objective on shares of 3M from $164.00 to $170.00 and gave the company an "overweight" rating in a research note on Wednesday. JPMorgan Chase & Co. upped their price objective on shares of 3M from $140.00 to $167.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. 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. Citigroup increased 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. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a research report on Friday, June 27th. Two equities research 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, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $156.33.

3M Trading Down 1.0%

NYSE:MMM opened at $155.73 on Friday. The company has a 50-day moving average price of $148.22 and a 200-day moving average price of $144.49. 3M Company has a 12 month low of $100.87 and a 12 month high of $159.47. 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 cap of $83.81 billion, a price-to-earnings ratio of 19.66, a P/E/G ratio of 3.07 and a beta of 1.02.

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

3M Dividend Announcement

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

Insider Activity

In related news, EVP John Patrick Banovetz sold 7,759 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $148.37, for a total value of $1,151,202.83. Following the completion of the transaction, the executive vice president directly owned 31,372 shares in the company, 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 Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Zoe L. Dickson sold 7,915 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $149.02, for a total transaction of $1,179,493.30. Following the completion of the transaction, 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. 0.34% of the stock is owned by company insiders.

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.

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