VAUGHAN & Co SECURITIES INC. Has $592,000 Stock Position in 3M Company (NYSE:MMM)

VAUGHAN & Co SECURITIES INC. reduced its holdings in shares of 3M Company (NYSE:MMM - Free Report) by 34.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,028 shares of the conglomerate's stock after selling 2,079 shares during the quarter. VAUGHAN & Co SECURITIES INC.'s holdings in 3M were worth $592,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC lifted its position in shares of 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 purchasing an additional 1,872 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of 3M during the fourth quarter valued at about $26,000. Steward Partners Investment Advisory LLC lifted its position in shares of 3M by 1.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 41,020 shares of the conglomerate's stock valued at $5,295,000 after purchasing an additional 452 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of 3M by 51.2% during the fourth quarter. Victory Capital Management Inc. now owns 609,429 shares of the conglomerate's stock valued at $78,671,000 after purchasing an additional 206,398 shares in the last quarter. Finally, Assetmark Inc. lifted its position in shares of 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 purchasing an additional 522 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MMM shares. Royal Bank Of Canada raised 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. Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a research report on Friday, June 27th. Wells Fargo & Company raised 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. JPMorgan Chase & Co. raised their price target 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. Finally, Barclays lifted their price objective on shares of 3M from $160.00 to $164.00 and gave the stock an "overweight" rating in a research 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 given 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 $155.83.

Insider Activity at 3M

In other news, EVP Zoe L. Dickson sold 7,915 shares of the business's stock in a transaction that occurred 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 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 document filed with the SEC, which is available at the SEC website. Also, EVP John Patrick Banovetz sold 7,759 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $148.37, for a total transaction of $1,151,202.83. Following the completion of the sale, the executive vice president directly owned 31,372 shares in the company, valued at approximately $4,654,663.64. This trade represents a 19.83% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% of the company's stock.

3M Stock Performance

Shares of MMM stock opened at $152.23 on Friday. The firm's 50-day simple moving average is $146.63 and its two-hundred day simple moving average is $143.57. 3M Company has a 52 week low of $98.26 and a 52 week high of $156.35. The company has a debt-to-equity ratio of 2.72, a quick ratio of 1.25 and a current ratio of 1.66. The firm has a market cap of $81.92 billion, a price-to-earnings ratio of 19.22, a P/E/G ratio of 2.99 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 (EPS) 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 company had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.78 billion. As a group, equities analysts forecast that 3M Company will post 7.8 earnings per share for the current year.

3M Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were given a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.92%. 3M's dividend payout ratio (DPR) is currently 36.87%.

About 3M

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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