3M Company (NYSE:MMM) Shares Sold by Windle Wealth LLC

Windle Wealth LLC trimmed its stake in 3M Company (NYSE:MMM - Free Report) by 23.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,488 shares of the conglomerate's stock after selling 14,592 shares during the period. 3M accounts for approximately 3.6% of Windle Wealth LLC's holdings, making the stock its 20th largest position. Windle Wealth LLC's holdings in 3M were worth $6,974,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. William Allan Corp raised its stake in 3M by 8.7% during the 1st quarter. William Allan Corp now owns 6,478 shares of the conglomerate's stock valued at $951,000 after purchasing an additional 519 shares during the period. Wealth Alliance LLC lifted its position in 3M by 13.3% during the first quarter. Wealth Alliance LLC now owns 3,264 shares of the conglomerate's stock valued at $479,000 after purchasing an additional 383 shares during the last quarter. Meridian Wealth Advisors LLC purchased a new position in 3M in the first quarter worth about $223,000. Teachers Retirement System of The State of Kentucky increased its position in shares of 3M by 3.6% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 42,130 shares of the conglomerate's stock valued at $6,187,000 after purchasing an additional 1,483 shares during the last quarter. Finally, J.W. Cole Advisors Inc. raised its holdings in 3M by 162.9% during the 1st quarter. J.W. Cole Advisors Inc. now owns 23,289 shares of the conglomerate's stock valued at $3,420,000 after buying an additional 14,431 shares during the period. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

3M Stock Down 1.0%

MMM stock traded down $1.56 during midday trading on Tuesday, reaching $151.27. 4,927,693 shares of the company were exchanged, compared to its average volume of 3,850,910. The company has a market cap of $81.41 billion, a price-to-earnings ratio of 21.04, a price-to-earnings-growth ratio of 2.98 and a beta of 1.02. The company has a debt-to-equity ratio of 2.87, a quick ratio of 1.20 and a current ratio of 1.72. 3M Company has a 1-year low of $101.77 and a 1-year high of $164.15. The stock's 50-day simple moving average is $149.91 and its 200 day simple moving average is $145.65.

3M (NYSE:MMM - Get Free Report) last announced its earnings results on Friday, July 18th. The conglomerate reported $2.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.01 by $0.15. The firm had revenue of $6.16 billion during the quarter, compared to analysts' expectations of $6.09 billion. 3M had a return on equity of 96.48% and a net margin of 16.01%. The business's revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.93 EPS. On average, equities analysts forecast that 3M Company will post 7.8 earnings per share for the current year.

3M Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 1.93%. 3M's payout ratio is currently 40.61%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MMM shares. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a research report on Saturday, July 12th. Citigroup upped their price objective on shares of 3M from $141.00 to $160.00 and gave the stock a "neutral" rating in a research note on Friday, May 30th. Barclays set a $170.00 target price on 3M in a research report on Friday. Wells Fargo & Company reaffirmed an "overweight" rating on shares of 3M in a research report on Friday. Finally, Royal Bank Of Canada upped their target price on 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research report on Wednesday, April 23rd. Two research 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. According to MarketBeat.com, 3M presently has a consensus rating of "Moderate Buy" and an average target price of $156.33.

Insider Activity

In related news, EVP Zoe L. Dickson sold 7,915 shares of the company's stock in a transaction 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 owned 6,127 shares of the company's stock, valued at $913,045.54. This represents a 56.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John Patrick Banovetz sold 7,759 shares of the stock in a transaction dated 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 transaction, the executive vice president 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. Corporate insiders own 0.48% of the company's stock.

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.