CENTRAL TRUST Co Lowers Stake in 3M (NYSE:MMM)

CENTRAL TRUST Co cut its stake in 3M (NYSE:MMM) by 7.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,525 shares of the conglomerate’s stock after selling 2,930 shares during the period. CENTRAL TRUST Co’s holdings in 3M were worth $4,586,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. SkyOak Wealth LLC lifted its stake in 3M by 10.9% in the fourth quarter. SkyOak Wealth LLC now owns 2,084 shares of the conglomerate’s stock worth $269,000 after purchasing an additional 204 shares during the last quarter. McAdam LLC grew its stake in shares of 3M by 13.6% during the fourth quarter. McAdam LLC now owns 4,635 shares of the conglomerate’s stock valued at $598,000 after buying an additional 555 shares during the last quarter. U.S. Capital Wealth Advisors LLC increased its holdings in shares of 3M by 1,615.9% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 122,240 shares of the conglomerate’s stock worth $15,780,000 after buying an additional 115,116 shares during the period. Golden State Equity Partners lifted its stake in shares of 3M by 1,430.5% in the 4th quarter. Golden State Equity Partners now owns 9,520 shares of the conglomerate’s stock valued at $1,229,000 after acquiring an additional 8,898 shares during the last quarter. Finally, SYM FINANCIAL Corp boosted its holdings in 3M by 37.8% during the 4th quarter. SYM FINANCIAL Corp now owns 3,571 shares of the conglomerate’s stock valued at $461,000 after acquiring an additional 979 shares during the period. Institutional investors own 65.25% of the company’s stock.

Insiders Place Their Bets

In related news, insider Christian T. Goralski, Jr. sold 6,318 shares of the company’s stock in a transaction that occurred on 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 approximately $750,736.32. This represents a 55.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Michael F. Roman sold 49,598 shares of 3M stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $152.30, for a total value of $7,553,775.40. Following the completion of the sale, the chairman now directly owns 180,895 shares of the company’s stock, valued at approximately $27,550,308.50. The trade was a 21.52 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 111,889 shares of company stock valued at $16,893,561. 0.34% of the stock is currently owned by corporate insiders.

3M Stock Performance

Shares of 3M stock opened at $152.26 on Friday. 3M has a 12 month low of $75.40 and a 12 month high of $155.00. The firm has a market capitalization of $82.92 billion, a P/E 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. The business has a fifty day simple moving average of $135.21 and a two-hundred day simple moving average of $131.08.

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

3M Dividend Announcement

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

Analyst Upgrades and Downgrades

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

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.