3M Company (NYSE:MMM) Shares Sold by Slocum Gordon & Co LLP

Slocum Gordon & Co LLP lowered its holdings in shares of 3M Company (NYSE:MMM - Free Report) by 74.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,604 shares of the conglomerate's stock after selling 10,608 shares during the quarter. Slocum Gordon & Co LLP's holdings in 3M were worth $529,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of MMM. Wayfinding Financial LLC bought a new stake in shares of 3M in the 4th quarter worth about $851,000. Ensign Peak Advisors Inc lifted its holdings in shares of 3M by 29.2% in the 4th quarter. Ensign Peak Advisors Inc now owns 642,354 shares of the conglomerate's stock worth $82,921,000 after acquiring an additional 145,146 shares during the last quarter. Asahi Life Asset Management CO. LTD. lifted its holdings in shares of 3M by 34.0% in the 4th quarter. Asahi Life Asset Management CO. LTD. now owns 12,516 shares of the conglomerate's stock worth $1,616,000 after acquiring an additional 3,173 shares during the last quarter. Allstate Corp bought a new stake in shares of 3M in the 4th quarter worth about $2,101,000. Finally, Teacher Retirement System of Texas lifted its holdings in shares of 3M by 59.8% in the 4th quarter. Teacher Retirement System of Texas now owns 747,954 shares of the conglomerate's stock worth $96,553,000 after acquiring an additional 280,015 shares during the last quarter. Institutional investors own 65.25% of the company's stock.

3M Stock Up 0.9%

Shares of 3M stock traded up $1.43 on Friday, reaching $152.19. The stock had a trading volume of 3,891,486 shares, compared to its average volume of 3,805,864. The company has a 50 day moving average price of $144.83 and a 200 day moving average price of $142.76. 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 1 year low of $98.26 and a 1 year high of $156.35. The stock has a market capitalization of $81.90 billion, a P/E ratio of 19.22, a P/E/G ratio of 3.13 and a beta of 1.03.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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. As a group, equities research analysts forecast that 3M Company will post 7.8 EPS for the current year.

3M Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 1.92%. 3M's dividend payout ratio is presently 36.87%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MMM. Royal Bank Of Canada lifted their price objective on shares of 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a report on Wednesday, April 23rd. Bank of America lifted their price objective on shares of 3M from $175.00 to $179.00 and gave the company a "buy" rating in a report on Thursday, March 6th. JPMorgan Chase & Co. lifted their price objective on shares of 3M from $140.00 to $167.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Citigroup lifted their price objective on shares of 3M from $141.00 to $160.00 and gave the company a "neutral" rating in a report on Friday, May 30th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of 3M in a report on Friday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $155.83.

Insiders Place Their Bets

In other news, EVP Zoe L. Dickson sold 7,915 shares of the stock in a transaction dated 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 now directly owns 6,127 shares in the company, valued at $913,045.54. This represents a 56.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP John Patrick Banovetz sold 7,759 shares of the stock in a transaction dated 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 now owns 31,372 shares of the company's stock, valued at $4,654,663.64. This trade represents a 19.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

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.