Resources Management Corp CT ADV Has $379,000 Stake in 3M (NYSE:MMM)

Resources Management Corp CT ADV decreased its stake in 3M (NYSE:MMMGet Rating) by 4.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,545 shares of the conglomerate’s stock after selling 120 shares during the quarter. Resources Management Corp CT ADV’s holdings in 3M were worth $379,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Landmark Wealth Management LLC bought a new position in 3M in the 1st quarter valued at $25,000. US Asset Management LLC bought a new position in 3M in the 1st quarter valued at $34,000. First Quadrant LLC CA bought a new position in 3M in the 1st quarter valued at $34,000. Iron Horse Wealth Management LLC raised its position in 3M by 125.0% in the 1st quarter. Iron Horse Wealth Management LLC now owns 288 shares of the conglomerate’s stock valued at $43,000 after purchasing an additional 160 shares during the last quarter. Finally, DeDora Capital Inc. bought a new position in 3M in the 1st quarter valued at $45,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

3M Trading Down 2.4 %

NYSE MMM opened at $117.53 on Thursday. The stock has a 50-day simple moving average of $135.44 and a 200 day simple moving average of $141.46. The company has a market capitalization of $66.95 billion, a PE ratio of 16.41, a P/E/G ratio of 1.22 and a beta of 0.99. The company has a current ratio of 1.47, a quick ratio of 0.90 and a debt-to-equity ratio of 1.01. 3M has a 12 month low of $115.98 and a 12 month high of $186.30.

3M (NYSE:MMMGet Rating) last posted its earnings results on Tuesday, July 26th. The conglomerate reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.01. 3M had a return on equity of 39.11% and a net margin of 11.83%. The firm had revenue of $8.70 billion during the quarter, compared to analysts’ expectations of $8.70 billion. During the same period in the previous year, the firm earned $2.59 earnings per share. The company’s revenue was down 2.2% on a year-over-year basis. Research analysts forecast that 3M will post 10.42 EPS for the current year.

3M Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Monday, August 22nd were paid a $1.49 dividend. The ex-dividend date was Friday, August 19th. This represents a $5.96 dividend on an annualized basis and a yield of 5.07%. 3M’s payout ratio is 83.24%.

Analysts Set New Price Targets

Several equities analysts have issued reports on MMM shares. Credit Suisse Group lifted their price objective on 3M from $157.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, July 27th. Morgan Stanley boosted their target price on 3M from $126.00 to $131.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 27th. Mizuho boosted their target price on 3M from $130.00 to $140.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 27th. Citigroup boosted their target price on 3M from $136.00 to $145.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 27th. Finally, TheStreet downgraded 3M from a “b-” rating to a “c+” rating in a research report on Wednesday, June 29th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $147.43.

Insider Buying and Selling at 3M

In other 3M news, EVP John Patrick Banovetz sold 3,145 shares of the business’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $150.32, for a total value of $472,756.40. Following the completion of the transaction, the executive vice president now directly owns 14,084 shares of the company’s stock, valued at $2,117,106.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP John Patrick Banovetz sold 3,145 shares of the company’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $150.32, for a total transaction of $472,756.40. Following the completion of the transaction, the executive vice president now directly owns 14,084 shares of the company’s stock, valued at $2,117,106.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Zoe L. Dickson sold 2,265 shares of the company’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $144.40, for a total value of $327,066.00. Following the transaction, the executive vice president now directly owns 893 shares of the company’s stock, valued at $128,949.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,121 shares of company stock valued at $6,644,865. Company insiders own 0.34% of the company’s stock.

About 3M

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3M Company operates as a diversified technology company worldwide. It operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The 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.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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