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

3M logo with Multi-Sector Conglomerates background

U.S. Capital Wealth Advisors LLC cut its position in 3M Company (NYSE:MMM - Free Report) by 4.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of 3M in the 4th quarter worth approximately $636,767,000. Invesco Ltd. increased its position in shares of 3M by 51.6% in the fourth quarter. Invesco Ltd. now owns 4,468,549 shares of the conglomerate's stock worth $576,845,000 after acquiring an additional 1,520,619 shares in the last quarter. D1 Capital Partners L.P. acquired a new stake in shares of 3M during the fourth quarter worth approximately $175,110,000. Capital World Investors boosted its holdings in shares of 3M by 25.4% during the fourth quarter. Capital World Investors now owns 6,153,924 shares of the conglomerate's stock worth $794,410,000 after purchasing an additional 1,248,093 shares during the period. Finally, Amundi boosted its holdings in shares of 3M by 55.7% during the fourth quarter. Amundi now owns 2,511,095 shares of the conglomerate's stock worth $337,815,000 after purchasing an additional 898,244 shares during the period. Institutional investors and hedge funds own 65.25% of the company's stock.

3M Trading Up 1.5%

MMM traded up $2.32 during mid-day trading on Wednesday, reaching $156.06. The stock had a trading volume of 2,807,830 shares, compared to its average volume of 3,811,818. 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 52 week low of $98.26 and a 52 week high of $156.61. The stock has a market capitalization of $83.99 billion, a P/E ratio of 19.70, a P/E/G ratio of 3.00 and a beta of 1.02. The firm's fifty day simple moving average is $147.56 and its two-hundred day simple moving average is $144.12.

3M (NYSE:MMM - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.11. 3M had a net margin of 17.79% and a return on equity of 96.19%. The business had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.78 billion. On average, equities analysts predict that 3M Company will post 7.8 EPS for the current year.

3M Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were issued a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 1.87%. 3M's dividend payout ratio is currently 36.87%.

Insider Buying and Selling at 3M

In other 3M news, EVP Zoe L. Dickson sold 7,915 shares of the stock in a transaction on 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 sale, the executive vice president directly owned 6,127 shares in the company, valued at approximately $913,045.54. This trade represents a 56.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 transaction of $1,151,202.83. Following the sale, 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 position. The disclosure for this sale can be found here. Company insiders own 0.34% of the company's stock.

Analyst Upgrades and Downgrades

MMM has been the subject of a number of analyst reports. Wells Fargo & Company lifted their target price on shares of 3M from $150.00 to $170.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Royal Bank Of Canada boosted their price objective on shares of 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a research note on Wednesday, April 23rd. Barclays upped their target price on shares of 3M from $164.00 to $170.00 and gave the company an "overweight" rating in a research note on Wednesday. Citigroup boosted their price target 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, JPMorgan Chase & Co. boosted their price target on shares of 3M from $140.00 to $167.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, 3M presently has an average rating of "Moderate Buy" and a consensus price target of $156.33.

Get Our Latest Stock Analysis on 3M

3M Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for 3M (NYSE:MMM)

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