Trust Co. of Vermont Cuts Holdings in 3M Company (NYSE:MMM)

Trust Co. of Vermont lessened its stake in 3M Company (NYSE:MMM - Free Report) by 70.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 15,572 shares of the conglomerate's stock after selling 37,458 shares during the quarter. Trust Co. of Vermont's holdings in 3M were worth $2,287,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. REAP Financial Group LLC lifted its stake in 3M by 88.7% in 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 acquired a new stake in shares of 3M in the 1st quarter valued at $29,000. Hazlett Burt & Watson Inc. purchased a new stake in shares of 3M during the 4th quarter worth $27,000. Pinney & Scofield Inc. acquired a new position in shares of 3M during the fourth quarter worth $28,000. Finally, Intelligent Financial Strategies purchased a new position in 3M in the first quarter valued at $42,000. 65.25% of the stock is owned by institutional investors and hedge funds.

3M Stock Performance

Shares of MMM opened at $150.89 on Friday. The stock has a market capitalization of $81.21 billion, a P/E ratio of 19.05, a P/E/G ratio of 3.07 and a beta of 1.03. 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 Company has a 1 year low of $98.26 and a 1 year high of $156.35. The company's fifty day moving average is $144.39 and its two-hundred day moving average is $142.61.

3M (NYSE:MMM - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.11. The firm had revenue of $5.80 billion during 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%. On average, sell-side analysts predict that 3M Company will post 7.8 earnings per share 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 issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 1.94%. 3M's dividend payout ratio (DPR) is presently 36.87%.

Insider Activity

In other 3M news, 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 value of $1,151,202.83. Following the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the executive vice president now directly owns 6,127 shares of the company's stock, valued at $913,045.54. This trade represents a 56.37% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on MMM. Bank of America lifted their price target on 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. Weiss Ratings reiterated a "hold (c+)" rating on shares of 3M in a research note on Wednesday, June 11th. Citigroup boosted their price objective on shares of 3M from $141.00 to $160.00 and gave the stock a "neutral" rating in a research report on Friday, May 30th. Barclays raised their price objective on 3M from $160.00 to $164.00 and gave the stock an "overweight" rating in a report on Wednesday, April 23rd. Finally, Royal Bank Of Canada boosted their target price on 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, 3M presently has an average rating of "Moderate Buy" and a consensus target price of $155.83.

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.

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