Stephens Inc. AR Sells 2,047 Shares of 3M Company (NYSE:MMM)

Stephens Inc. AR lessened its stake in 3M Company (NYSE:MMM - Free Report) by 3.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,292 shares of the conglomerate's stock after selling 2,047 shares during the period. Stephens Inc. AR's holdings in 3M were worth $7,680,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. REAP Financial Group LLC grew its position in shares of 3M by 88.7% during the 4th quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate's stock valued at $26,000 after acquiring an additional 94 shares during the period. Curat Global LLC bought a new stake in shares of 3M during the 1st quarter valued at $29,000. Hazlett Burt & Watson Inc. bought a new stake in shares of 3M during the 4th quarter valued at $27,000. Pinney & Scofield Inc. bought a new stake in shares of 3M during the 4th quarter valued at $28,000. Finally, Intelligent Financial Strategies bought a new stake in shares of 3M during the 1st quarter valued at $42,000. Institutional investors own 65.25% of the company's stock.

3M Stock Down 1.0%

Shares of MMM stock opened at $155.73 on Monday. The stock has a market cap of $83.81 billion, a P/E ratio of 19.66, a PEG ratio of 3.04 and a beta of 1.02. 3M Company has a 52 week low of $100.87 and a 52 week high of $159.47. The company has a quick ratio of 1.25, a current ratio of 1.66 and a debt-to-equity ratio of 2.72. The company's fifty day simple moving average is $148.22 and its two-hundred day simple moving average is $144.69.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MMM shares. Citigroup boosted 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. Wells Fargo & Company boosted their price objective on shares of 3M from $150.00 to $170.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Barclays upped their target price on shares of 3M from $164.00 to $170.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. Royal Bank Of Canada upped their target price on shares of 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. upped their target price 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 issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, 3M has an average rating of "Moderate Buy" and an average price target of $156.33.

Insider Activity

In other news, EVP John Patrick Banovetz sold 7,759 shares of the company's 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 sale, the executive vice president directly owned 31,372 shares in the company, valued at approximately $4,654,663.64. This represents a 19.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Zoe L. Dickson sold 7,915 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $149.02, for a total transaction 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 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 currently owned by corporate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.