TRUE Private Wealth Advisors Has $703,000 Stock Holdings in 3M (NYSE:MMM)

TRUE Private Wealth Advisors lessened its holdings in shares of 3M (NYSE:MMM - Free Report) by 81.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,431 shares of the conglomerate's stock after selling 27,668 shares during the period. TRUE Private Wealth Advisors' holdings in 3M were worth $703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Tyche Wealth Partners LLC acquired a new stake in shares of 3M in the fourth quarter valued at about $723,000. Allen Capital Group LLC raised its stake in 3M by 0.5% during the fourth quarter. Allen Capital Group LLC now owns 20,931 shares of the conglomerate's stock worth $2,288,000 after purchasing an additional 105 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in 3M by 3.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 376,492 shares of the conglomerate's stock worth $41,158,000 after purchasing an additional 11,107 shares during the period. Eagle Bluffs Wealth Management LLC raised its stake in 3M by 2.0% during the fourth quarter. Eagle Bluffs Wealth Management LLC now owns 12,635 shares of the conglomerate's stock worth $1,381,000 after purchasing an additional 246 shares during the period. Finally, Octavia Wealth Advisors LLC purchased a new stake in shares of 3M in the 4th quarter valued at approximately $205,000. Hedge funds and other institutional investors own 65.25% of the company's stock.

3M Stock Performance

MMM stock traded up $0.52 on Thursday, hitting $91.48. The company's stock had a trading volume of 3,005,373 shares, compared to its average volume of 5,898,964. The firm has a 50 day moving average of $95.77 and a two-hundred day moving average of $97.22. 3M has a 1 year low of $71.12 and a 1 year high of $95.67. The stock has a market cap of $50.62 billion, a price-to-earnings ratio of -7.24, a price-to-earnings-growth ratio of 1.61 and a beta of 1.02. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 2.69.

3M (NYSE:MMM - Get Free Report) last released its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 EPS for the quarter, beating the consensus estimate of $2.31 by $0.11. The firm had revenue of $8.01 billion during the quarter, compared to the consensus estimate of $7.69 billion. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. 3M's revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.28 EPS. Equities analysts predict that 3M will post 8.79 EPS for the current fiscal year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were given a dividend of $1.51 per share. The ex-dividend date was Thursday, February 15th. This represents a $6.04 dividend on an annualized basis and a yield of 6.60%. This is an increase from 3M's previous quarterly dividend of $1.50. 3M's dividend payout ratio is presently -47.82%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Bank of America reduced their price target on shares of 3M from $110.00 to $100.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. cut their target price on shares of 3M from $118.00 to $110.00 and set a "neutral" rating on the stock in a research note on Wednesday. Wells Fargo & Company cut their target price on shares of 3M from $112.00 to $105.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 24th. Mizuho reiterated a "neutral" rating and set a $105.00 price target on shares of 3M in a report on Wednesday, March 27th. Finally, Royal Bank of Canada lowered their price target on shares of 3M from $84.00 to $78.00 and set an "underperform" rating for the company in a report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, 3M has an average rating of "Hold" and an average target price of $104.00.

Insiders Place Their Bets

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the company's stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total transaction of $39,328.32. Following the completion of the transaction, the insider now owns 3,966 shares in the company, valued at approximately $366,141.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.34% of the stock is owned by insiders.

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.