U.S. Capital Wealth Advisors LLC Sells 4,838 Shares of 3M Company (NYSE:MMM)

U.S. Capital Wealth Advisors LLC trimmed its position in 3M Company (NYSE:MMM - Free Report) by 4.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 117,402 shares of the conglomerate's stock after selling 4,838 shares during the quarter. U.S. Capital Wealth Advisors LLC's holdings in 3M were worth $17,242,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in MMM. Brighton Jones LLC raised its position in 3M by 26.6% during the fourth quarter. Brighton Jones LLC now owns 8,898 shares of the conglomerate's stock valued at $1,149,000 after acquiring an additional 1,872 shares in the last quarter. Proficio Capital Partners LLC bought a new position in 3M during the fourth quarter valued at approximately $26,000. Assetmark Inc. raised its position in 3M by 80.2% during the fourth quarter. Assetmark Inc. now owns 1,173 shares of the conglomerate's stock valued at $151,000 after acquiring an additional 522 shares in the last quarter. Raymond James Financial Inc. bought a new position in 3M during the fourth quarter valued at approximately $103,788,000. Finally, Candriam S.C.A. raised its position in 3M by 5.6% during the fourth quarter. Candriam S.C.A. now owns 40,543 shares of the conglomerate's stock valued at $5,234,000 after acquiring an additional 2,154 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Stock Performance

MMM traded up $1.34 during trading on Thursday, reaching $157.32. 4,043,297 shares of the company's stock were exchanged, compared to its average volume of 3,812,740. 3M Company has a fifty-two week low of $98.26 and a fifty-two week high of $159.42. 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 business has a 50 day moving average price of $147.56 and a 200 day moving average price of $144.12. The company has a market capitalization of $84.66 billion, a P/E ratio of 19.86, a PEG ratio of 3.00 and a beta of 1.02.

3M (NYSE:MMM - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share 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, analysts predict that 3M Company will post 7.8 earnings per share for the current fiscal year.

3M Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were paid a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.86%. 3M's dividend payout ratio is presently 36.87%.

Insider Buying and Selling at 3M

In related news, EVP Zoe L. Dickson sold 7,915 shares of 3M stock in a transaction dated 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 completion of the transaction, the executive vice president directly owned 6,127 shares of the company's stock, valued at $913,045.54. The trade was a 56.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP John Patrick Banovetz sold 7,759 shares of 3M stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $148.37, for a total value of $1,151,202.83. Following the completion of the transaction, the executive vice president directly owned 31,372 shares of the company's stock, valued at $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. 0.34% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on MMM shares. JPMorgan Chase & Co. raised their price objective on shares of 3M from $140.00 to $167.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Royal Bank Of Canada lifted their price target 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. Wells Fargo & Company lifted their price target 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. Citigroup lifted their price target 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. Finally, Barclays lifted their price target on shares of 3M from $164.00 to $170.00 and gave the company an "overweight" rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $156.33.

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.