Mutual of America Capital Management LLC Sells 2,100 Shares of 3M Company (NYSE:MMM)

Mutual of America Capital Management LLC lowered its position in shares of 3M Company (NYSE:MMM - Free Report) by 3.2% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 63,146 shares of the conglomerate's stock after selling 2,100 shares during the quarter. Mutual of America Capital Management LLC's holdings in 3M were worth $9,274,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LaSalle St. Investment Advisors LLC increased its stake in shares of 3M by 2.5% in the fourth quarter. LaSalle St. Investment Advisors LLC now owns 2,951 shares of the conglomerate's stock worth $381,000 after purchasing an additional 71 shares during the period. TCV Trust & Wealth Management Inc. grew its holdings in 3M by 1.1% in the 1st quarter. TCV Trust & Wealth Management Inc. now owns 6,497 shares of the conglomerate's stock valued at $954,000 after buying an additional 73 shares during the last quarter. NBT Bank N A NY increased its position in 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 period. Rehmann Capital Advisory Group lifted its holdings in shares of 3M by 2.6% during 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. boosted its position in shares of 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 acquiring an additional 83 shares during the period. Institutional investors and hedge funds own 65.25% of the company's stock.

3M Stock Down 0.7%

Shares of NYSE:MMM traded down $1.18 during midday trading on Tuesday, reaching $156.73. 3,058,820 shares of the company were exchanged, compared to its average volume of 3,798,485. The company has a quick ratio of 1.25, a current ratio of 1.66 and a debt-to-equity ratio of 2.72. 3M Company has a fifty-two week low of $100.87 and a fifty-two week high of $159.47. The stock has a fifty day simple moving average of $148.57 and a two-hundred day simple moving average of $144.88. The firm has a market cap of $84.35 billion, a PE ratio of 19.79, 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, 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 analyst estimates of $5.78 billion. As a group, sell-side analysts forecast that 3M Company will post 7.8 earnings per share for the current year.

3M Announces Dividend

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 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%.

Insider Activity

In other news, EVP John Patrick Banovetz sold 7,759 shares of the business'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 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 approximately $4,654,663.64. The trade was a 19.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Zoe L. Dickson sold 7,915 shares of the company's stock in a transaction that occurred on 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 transaction, 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 disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MMM has been the subject of a number of research analyst reports. 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 report on Wednesday, July 9th. Citigroup upped their price objective 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. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a research report on Saturday. Wells Fargo & Company upped their target price on shares of 3M from $150.00 to $170.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Finally, JPMorgan Chase & Co. upped their target price 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. Two analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $156.33.

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.