Moloney Securities Asset Management LLC Decreases Stock Position in 3M Company $MMM

Key Points

• Moloney Securities Asset Management LLC has decreased its stake in 3M Company by 9.3%, now holding 27,158 shares valued at approximately $4.1 million.
• Multiple institutional investors have recently adjusted their positions in 3M, with Brighton Jones LLC increasing its stake by 26.6% during the last quarter.
• Analysts have set new price targets for 3M, with estimates ranging from $169.00 to $190.00, and the stock currently holds an average rating of "Moderate Buy."

Moloney Securities Asset Management LLC reduced its holdings in shares of 3M Company (NYSE:MMM - Free Report) by 9.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,158 shares of the conglomerate's stock after selling 2,769 shares during the quarter. Moloney Securities Asset Management LLC's holdings in 3M were worth $4,135,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MMM. Brighton Jones LLC boosted its stake in shares of 3M by 26.6% during the 4th quarter. Brighton Jones LLC now owns 8,898 shares of the conglomerate's stock valued at $1,149,000 after buying an additional 1,872 shares during the last quarter. Bison Wealth LLC boosted its stake in shares of 3M by 10.2% during the 4th quarter. Bison Wealth LLC now owns 2,751 shares of the conglomerate's stock valued at $355,000 after buying an additional 255 shares during the last quarter. GHP Investment Advisors Inc. boosted its stake in shares of 3M by 9.6% during the 1st quarter. GHP Investment Advisors Inc. now owns 2,279 shares of the conglomerate's stock valued at $335,000 after buying an additional 200 shares during the last quarter. Legacy Advisors LLC boosted its stake in shares of 3M by 9.2% during the 1st quarter. Legacy Advisors LLC now owns 2,348 shares of the conglomerate's stock valued at $345,000 after buying an additional 197 shares during the last quarter. Finally, Archford Capital Strategies LLC purchased a new position in shares of 3M during the 1st quarter valued at approximately $214,000. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MMM has been the subject of several research analyst reports. UBS Group set a $190.00 target price on 3M in a research note on Wednesday. Weiss Ratings restated a "buy (b-)" rating on shares of 3M in a research note on Wednesday, October 8th. JPMorgan Chase & Co. raised their price objective on 3M from $175.00 to $178.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 15th. Wells Fargo & Company raised their price objective on 3M from $176.00 to $183.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, Citigroup raised their price objective on 3M from $160.00 to $169.00 and gave the stock a "neutral" rating in a research note on Thursday, October 9th. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, 3M currently has an average rating of "Moderate Buy" and an average target price of $172.67.

3M Stock Performance

Shares of MMM opened at $171.54 on Friday. 3M Company has a 12-month low of $121.98 and a 12-month high of $171.63. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.84 and a quick ratio of 1.20. The business's fifty day moving average price is $155.61 and its 200 day moving average price is $149.61. The stock has a market capitalization of $91.13 billion, a PE ratio of 27.40, a price-to-earnings-growth ratio of 2.74 and a beta of 1.05.

3M (NYSE:MMM - Get Free Report) last issued its earnings results on Tuesday, February 21st. The conglomerate reported $2.45 earnings per share for the quarter. 3M had a return on equity of 98.47% and a net margin of 13.70%.The firm had revenue of $8.38 billion for the quarter. Equities research analysts forecast that 3M Company will post 7.8 EPS for the current year.

3M Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Monday, August 25th were given a $0.73 dividend. The ex-dividend date of this dividend was Monday, August 25th. This represents a $2.92 annualized dividend and a yield of 1.7%. 3M's dividend payout ratio (DPR) is currently 46.65%.

Insider Buying and Selling at 3M

In other news, CAO Theresa E. Reinseth sold 3,477 shares of the firm's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $150.63, for a total transaction of $523,740.51. Following the transaction, the chief accounting officer directly owned 2,561 shares of the company's stock, valued at approximately $385,763.43. This trade represents a 57.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christian T. Goralski, Jr. sold 6,165 shares of the firm's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $150.18, for a total value of $925,859.70. Following the transaction, the insider directly owned 2,900 shares in the company, valued at $435,522. This trade represents a 68.01% 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.

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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