Pathstone Holdings LLC Has $8.84 Million Stake in 3M (NYSE:MMM)

Pathstone Holdings LLC lessened its holdings in 3M (NYSE:MMM - Free Report) by 7.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,441 shares of the conglomerate's stock after selling 5,702 shares during the quarter. Pathstone Holdings LLC's holdings in 3M were worth $8,836,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MMM. Financial Life Planners bought a new position in 3M in the 4th quarter worth about $25,000. Proficio Capital Partners LLC purchased a new position in 3M in the 4th quarter worth about $26,000. Hazlett Burt & Watson Inc. acquired a new stake in shares of 3M in the fourth quarter worth $27,000. Daymark Wealth Partners LLC lifted its position in shares of 3M by 9.0% in the fourth quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate's stock worth $31,000 after purchasing an additional 19,552 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its stake in shares of 3M by 230.1% during the 4th quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate's stock valued at $40,000 after buying an additional 214 shares during the period. Institutional investors and hedge funds own 65.25% of the company's stock.

3M Stock Down 0.1%

NYSE:MMM traded down $0.08 during trading hours on Tuesday, hitting $154.06. The company's stock had a trading volume of 2,528,785 shares, compared to its average volume of 3,993,873. 3M has a 52-week low of $96.76 and a 52-week high of $156.35. The stock has a market capitalization of $82.91 billion, a P/E ratio of 20.41, a price-to-earnings-growth ratio of 3.30 and a beta of 1.02. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. The stock has a fifty day moving average of $141.68 and a 200-day moving average of $139.66.

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

3M Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 1.90%. 3M's dividend payout ratio is currently 36.87%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Royal Bank of Canada raised their price target on 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research report on Wednesday, April 23rd. Weiss Ratings reiterated a "hold (c+)" rating on shares of 3M in a research report on Saturday, May 10th. Wells Fargo & Company upgraded 3M from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $140.00 to $170.00 in a report on Wednesday, January 22nd. Barclays raised their price target on shares of 3M from $160.00 to $164.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 23rd. Finally, Citigroup reduced their price objective on shares of 3M from $152.00 to $142.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $152.08.

Insider Transactions at 3M

In related news, EVP Zoe L. Dickson sold 7,915 shares of the company's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $149.02, for a total transaction of $1,179,493.30. Following the completion of the transaction, the executive vice president now directly owns 6,127 shares in the company, valued at $913,045.54. This represents a 56.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.34% of the company's stock.

3M 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.