3M Company (NYSE:MMM) Shares Sold by Pinkerton Retirement Specialists LLC

Pinkerton Retirement Specialists LLC decreased its holdings in shares of 3M Company (NYSE:MMM - Free Report) by 14.2% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 39,287 shares of the conglomerate's stock after selling 6,481 shares during the period. 3M makes up approximately 0.7% of Pinkerton Retirement Specialists LLC's investment portfolio, making the stock its 18th largest holding. Pinkerton Retirement Specialists LLC's holdings in 3M were worth $5,770,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. REAP Financial Group LLC grew its stake in shares of 3M by 88.7% during the fourth quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate's stock worth $26,000 after acquiring an additional 94 shares during the last quarter. Curat Global LLC purchased a new stake in 3M in the first quarter valued at approximately $29,000. Hazlett Burt & Watson Inc. purchased a new stake in 3M in the fourth quarter valued at approximately $27,000. Pinney & Scofield Inc. purchased a new stake in 3M in the fourth quarter valued at approximately $28,000. Finally, Intelligent Financial Strategies purchased a new stake in 3M in the first quarter valued at approximately $42,000. Hedge funds and other institutional investors own 65.25% of the company's stock.

3M Stock Performance

NYSE:MMM traded up $0.92 during trading hours on Wednesday, reaching $157.51. The company had a trading volume of 3,194,531 shares, compared to its average volume of 3,796,828. 3M Company has a 1-year low of $101.77 and a 1-year high of $159.47. The firm has a market cap of $84.77 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 3.05 and a beta of 1.02. The business's 50 day moving average price is $149.32 and its 200-day moving average price is $145.05. The company has a debt-to-equity ratio of 2.72, a current ratio of 1.66 and a quick ratio of 1.25.

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

3M Announces Dividend

The firm also recently announced 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 1.85%. 3M's payout ratio is 36.87%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MMM. Wells Fargo & Company upped their target price on 3M from $150.00 to $170.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. JPMorgan Chase & Co. upped their target price on 3M from $140.00 to $167.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Barclays upped their target price on 3M from $164.00 to $170.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. Royal Bank Of Canada upped their target price on 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research report on Wednesday, April 23rd. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of 3M in a research report on Saturday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $156.33.

Insider Activity at 3M

In other news, 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 completion of the transaction, the executive vice president directly owned 6,127 shares of the company's stock, valued at $913,045.54. This represents a 56.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP John Patrick Banovetz sold 7,759 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $148.37, for a total value of $1,151,202.83. Following the transaction, the executive vice president directly owned 31,372 shares of the company's stock, valued at approximately $4,654,663.64. The trade was a 19.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company's stock.

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.