3M (NYSE:MMM) Shares Sold by Toth Financial Advisory Corp

Toth Financial Advisory Corp lowered its stake in shares of 3M (NYSE:MMM - Free Report) by 18.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 20,484 shares of the conglomerate's stock after selling 4,588 shares during the quarter. Toth Financial Advisory Corp's holdings in 3M were worth $3,008,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in shares of 3M by 26.6% in the 4th quarter. Brighton Jones LLC now owns 8,898 shares of the conglomerate's stock worth $1,149,000 after acquiring an additional 1,872 shares during the last quarter. Silver Oak Securities Incorporated raised its position in 3M by 12.0% in the 4th quarter. Silver Oak Securities Incorporated now owns 3,028 shares of the conglomerate's stock worth $391,000 after purchasing an additional 325 shares during the period. Appleton Partners Inc. MA raised its position in 3M by 50.0% in the 4th quarter. Appleton Partners Inc. MA now owns 3,451 shares of the conglomerate's stock worth $445,000 after purchasing an additional 1,150 shares during the period. Apollon Wealth Management LLC lifted its stake in 3M by 7.0% in the fourth quarter. Apollon Wealth Management LLC now owns 21,037 shares of the conglomerate's stock worth $2,716,000 after purchasing an additional 1,379 shares during the last quarter. Finally, Kingsview Wealth Management LLC boosted its position in shares of 3M by 3.1% during the fourth quarter. Kingsview Wealth Management LLC now owns 33,181 shares of the conglomerate's stock valued at $4,283,000 after buying an additional 1,005 shares during the period. Institutional investors own 65.25% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on MMM. Barclays raised their price target on 3M from $160.00 to $164.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 23rd. Bank of America lifted their target price on 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a report on Saturday, May 24th. JPMorgan Chase & Co. raised their price target on shares of 3M from $140.00 to $167.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Finally, Royal Bank of Canada boosted their price objective on shares of 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research report on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, 3M currently has a consensus rating of "Moderate Buy" and a consensus target price of $153.46.

Insider Transactions 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 stock was sold at an average price of $149.02, for a total value of $1,179,493.30. Following the sale, the executive vice president now owns 6,127 shares in the company, valued at $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 Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Patrick Banovetz sold 7,759 shares of the stock in a transaction 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 now owns 31,372 shares of the company's stock, valued at approximately $4,654,663.64. This represents a 19.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.34% of the company's stock.

3M Stock Down 0.9%

Shares of 3M stock traded down $1.26 on Monday, reaching $144.24. The stock had a trading volume of 3,401,853 shares, compared to its average volume of 3,861,925. 3M has a 1 year low of $98.26 and a 1 year high of $156.35. The company has a 50 day moving average price of $141.18 and a 200 day moving average price of $141.44. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The stock has a market capitalization of $77.63 billion, a P/E ratio of 19.10, a P/E/G ratio of 3.30 and a beta of 1.03.

3M (NYSE:MMM - Get Free Report) last announced its quarterly 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 company had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.78 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. As a group, equities research analysts forecast that 3M will post 7.8 EPS for the current year.

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be paid a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 2.02%. 3M's dividend payout ratio (DPR) is currently 36.87%.

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.