OneDigital Investment Advisors LLC Sells 2,836 Shares of 3M Company (NYSE:MMM)

OneDigital Investment Advisors LLC lessened its position in 3M Company (NYSE:MMM - Free Report) by 13.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,611 shares of the conglomerate's stock after selling 2,836 shares during the period. OneDigital Investment Advisors LLC's holdings in 3M were worth $2,586,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in 3M during the 4th quarter valued at $636,767,000. Invesco Ltd. lifted its position in 3M by 51.6% during the fourth quarter. Invesco Ltd. now owns 4,468,549 shares of the conglomerate's stock worth $576,845,000 after purchasing an additional 1,520,619 shares during the period. D1 Capital Partners L.P. acquired a new stake in 3M during the fourth quarter worth about $175,110,000. Capital World Investors increased its holdings in 3M by 25.4% in the 4th quarter. Capital World Investors now owns 6,153,924 shares of the conglomerate's stock valued at $794,410,000 after buying an additional 1,248,093 shares during the period. Finally, Amundi raised its position in shares of 3M by 55.7% in the 4th quarter. Amundi now owns 2,511,095 shares of the conglomerate's stock valued at $337,815,000 after buying an additional 898,244 shares in the last quarter. 65.25% of the stock is owned by institutional investors.

3M Trading Down 0.4%

Shares of MMM traded down $0.58 during mid-day trading on Monday, reaching $152.36. 833,803 shares of the company were exchanged, compared to its average volume of 3,796,173. 3M Company has a 52 week low of $98.26 and a 52 week high of $156.35. The business has a 50 day simple moving average of $146.63 and a two-hundred day simple moving average of $143.82. The stock has a market capitalization of $82.00 billion, a PE ratio of 19.23, a PEG ratio of 2.99 and a beta of 1.02. 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 announced its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.77 by $0.11. 3M had a return on equity of 96.19% and a net margin of 17.79%. The company had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.78 billion. On average, analysts predict that 3M Company will post 7.8 earnings per share for the current fiscal year.

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders 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 1.92%. 3M's dividend payout ratio (DPR) is 36.87%.

Insider Buying and Selling at 3M

In other 3M news, EVP Zoe L. Dickson sold 7,915 shares of 3M stock in a transaction 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 completion of the sale, the executive vice president directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John Patrick Banovetz sold 7,759 shares of the company's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $148.37, for a total transaction of $1,151,202.83. Following the transaction, the executive vice president 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 disclosure for this sale can be found here. Insiders own 0.48% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on MMM shares. Weiss Ratings reiterated a "hold (c+)" rating on shares of 3M in a research report on Friday, June 27th. Wells Fargo & Company boosted their price target on 3M from $150.00 to $170.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Citigroup raised their price objective on 3M from $141.00 to $160.00 and gave the company a "neutral" rating in a research note on Friday, May 30th. Barclays boosted their target price on 3M from $160.00 to $164.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. upped their price target on shares of 3M from $140.00 to $167.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $155.83.

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.