M&T Bank Corp Has $39.57 Million Stock Position in 3M Company (NYSE:MMM)

M&T Bank Corp lowered its stake in shares of 3M Company (NYSE:MMM - Free Report) by 1.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 269,406 shares of the conglomerate's stock after selling 3,789 shares during the period. M&T Bank Corp owned approximately 0.05% of 3M worth $39,565,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in MMM. Brighton Jones LLC grew its holdings in 3M by 26.6% during the 4th quarter. Brighton Jones LLC now owns 8,898 shares of the conglomerate's stock worth $1,149,000 after acquiring an additional 1,872 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in 3M during the 4th quarter worth $26,000. Assetmark Inc. grew its holdings in 3M by 80.2% during the 4th quarter. Assetmark Inc. now owns 1,173 shares of the conglomerate's stock worth $151,000 after acquiring an additional 522 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its holdings in 3M by 5.4% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 11,711 shares of the conglomerate's stock worth $1,668,000 after acquiring an additional 595 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new position in 3M during the 4th quarter worth $1,841,000. Institutional investors and hedge funds own 65.25% of the company's stock.

Insider Activity at 3M

In other 3M news, EVP Zoe L. Dickson sold 7,915 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $149.02, for a total value of $1,179,493.30. Following the sale, the executive vice president owned 6,127 shares in the company, valued at $913,045.54. This trade represents a 56.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 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 owned 31,372 shares in the company, valued at $4,654,663.64. This represents a 19.83% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.48% of the company's stock.

Wall Street Analyst Weigh In

MMM has been the topic of a number of recent research reports. Barclays raised their price target on shares of 3M from $164.00 to $170.00 and gave the stock an "overweight" rating in a research report on Wednesday. Royal Bank Of Canada raised their target price on shares of 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research note on Wednesday, April 23rd. Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a research note on Friday, June 27th. JPMorgan Chase & Co. lifted their price objective on shares of 3M from $140.00 to $167.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Finally, Wells Fargo & Company lifted 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 investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $156.33.

3M Stock Up 1.1%

MMM traded up $1.67 during trading on Wednesday, reaching $155.41. 804,257 shares of the stock were exchanged, compared to its average volume of 3,799,865. The stock has a market cap of $83.64 billion, a P/E ratio of 19.61, a price-to-earnings-growth ratio of 2.97 and a beta of 1.02. 3M Company has a twelve month low of $98.26 and a twelve month high of $156.35. The stock's 50 day moving average price is $147.22 and its two-hundred day moving average price is $144.04. The company has a debt-to-equity ratio of 2.72, a quick ratio of 1.25 and a current ratio of 1.66.

3M (NYSE:MMM - Get Free Report) last released 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 17.79% and a return on equity of 96.19%. The firm had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.78 billion. Equities analysts expect that 3M Company will post 7.8 EPS for the current year.

3M Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors 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 1.88%. 3M's dividend payout ratio is 36.87%.

3M 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.