3M (NYSE:MMM) Stock Position Reduced by Eagle Bluffs Wealth Management LLC

Eagle Bluffs Wealth Management LLC trimmed its stake in shares of 3M (NYSE:MMM) by 2.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,303 shares of the conglomerate’s stock after selling 300 shares during the quarter. Eagle Bluffs Wealth Management LLC’s holdings in 3M were worth $1,717,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. D.A. Davidson & CO. raised its position in shares of 3M by 16.2% during the 3rd quarter. D.A. Davidson & CO. now owns 146,333 shares of the conglomerate’s stock worth $20,004,000 after purchasing an additional 20,421 shares during the period. Franklin Resources Inc. raised its position in shares of 3M by 26.8% during the 3rd quarter. Franklin Resources Inc. now owns 845,401 shares of the conglomerate’s stock worth $114,770,000 after purchasing an additional 178,450 shares during the period. Meyer Handelman Co. raised its position in shares of 3M by 1.4% during the 4th quarter. Meyer Handelman Co. now owns 197,618 shares of the conglomerate’s stock worth $25,511,000 after purchasing an additional 2,678 shares during the period. Ballentine Partners LLC raised its position in shares of 3M by 40.1% during the 3rd quarter. Ballentine Partners LLC now owns 18,217 shares of the conglomerate’s stock worth $2,490,000 after purchasing an additional 5,210 shares during the period. Finally, Stonegate Investment Group LLC raised its position in shares of 3M by 5.6% during the 3rd quarter. Stonegate Investment Group LLC now owns 252,847 shares of the conglomerate’s stock worth $34,564,000 after purchasing an additional 13,473 shares during the period. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MMM has been the topic of a number of research reports. Bank of America increased their price target on 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Mizuho raised their target price on 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Barclays raised their target price on 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. raised their target price on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Finally, Melius upgraded 3M from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, 3M currently has a consensus rating of “Moderate Buy” and an average price target of $148.87.

3M Price Performance

MMM stock opened at $152.26 on Friday. The firm has a 50-day moving average of $135.21 and a two-hundred day moving average of $130.88. The firm has a market capitalization of $82.92 billion, a PE ratio of 20.17, a P/E/G ratio of 3.35 and a beta of 0.95. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. 3M has a one year low of $75.40 and a one year high of $155.00.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. 3M had a net margin of 15.71% and a return on equity of 100.77%. The firm had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.77 billion. During the same quarter last year, the business posted $2.42 EPS. The company’s revenue was down 25.0% on a year-over-year basis. On average, analysts forecast that 3M will post 7.8 earnings per share for the current year.

3M Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.84%. The ex-dividend date was Friday, November 15th. 3M’s payout ratio is 37.09%.

Insider Buying and Selling

In other 3M news, insider Christian T. Goralski, Jr. sold 6,318 shares of the company’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $149.43, for a total value of $944,098.74. Following the transaction, the insider now directly owns 5,024 shares of the company’s stock, valued at $750,736.32. This represents a 55.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of 3M stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $150.25, for a total value of $247,161.25. Following the sale, the insider now owns 5,153 shares of the company’s stock, valued at approximately $774,238.25. This represents a 24.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 111,889 shares of company stock valued at $16,893,561. Corporate 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.