3M (NYSE:MMM) Shares Sold by Western Wealth Management LLC

Western Wealth Management LLC lowered its holdings in 3M (NYSE:MMM - Free Report) by 87.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,925 shares of the conglomerate's stock after selling 13,647 shares during the quarter. Western Wealth Management LLC's holdings in 3M were worth $249,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Daymark Wealth Partners LLC raised its stake in shares of 3M by 9.0% during the 4th quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate's stock worth $31,000 after buying an additional 19,552 shares during the last quarter. Secure Asset Management LLC acquired a new position in 3M in the 4th quarter valued at about $212,000. Apeiron RIA LLC raised its stake in 3M by 9.9% in the 4th quarter. Apeiron RIA LLC now owns 1,717 shares of the conglomerate's stock valued at $222,000 after purchasing an additional 154 shares during the last quarter. Brighton Jones LLC raised its stake in 3M by 26.6% in the 4th 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 during the last quarter. Finally, Cornerstone Wealth Management LLC raised its stake in 3M by 1.7% in the 4th quarter. Cornerstone Wealth Management LLC now owns 10,791 shares of the conglomerate's stock valued at $1,393,000 after purchasing an additional 185 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company's stock.

Analyst Upgrades and Downgrades

MMM has been the subject of several analyst reports. Barclays boosted their target price on shares of 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a research note on Wednesday, April 23rd. Royal Bank of Canada lifted their price target on 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a report on Wednesday, April 23rd. Bank of America lifted their price target on 3M from $175.00 to $179.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a report on Saturday, May 24th. Finally, JPMorgan Chase & Co. lifted their price target on 3M from $140.00 to $167.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, 3M has a consensus rating of "Moderate Buy" and an average target price of $152.08.

3M Trading Down 1.2%

Shares of NYSE:MMM traded down $1.74 during trading on Friday, reaching $147.89. 837,601 shares of the stock were exchanged, compared to its average volume of 3,949,355. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. 3M has a 12-month low of $96.89 and a 12-month high of $156.35. The firm has a market cap of $79.59 billion, a price-to-earnings ratio of 19.57, a price-to-earnings-growth ratio of 3.30 and a beta of 1.02. The firm's 50-day moving average price is $141.44 and its 200 day moving average price is $140.56.

3M (NYSE:MMM - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.77 by $0.11. 3M had a return on equity of 100.77% and a net margin of 15.71%. The business had revenue of $5.80 billion during the quarter, compared to analysts' expectations of $5.78 billion. On average, sell-side analysts anticipate that 3M will post 7.8 earnings per share for the current fiscal year.

3M Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.97%. 3M's payout ratio is currently 36.87%.

Insider Transactions at 3M

In related news, EVP Zoe L. Dickson sold 7,915 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $149.02, for a total transaction 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 approximately $913,045.54. The trade was a 56.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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 stock was sold at an average price of $148.37, for a total value of $1,151,202.83. Following the transaction, the executive vice president now directly owns 31,372 shares in the company, valued at $4,654,663.64. This trade represents a 19.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.34% of the company's stock.

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.