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

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.

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.