3M (NYSE:MMM) Shares Sold by Schwarz Dygos Wheeler Investment Advisors LLC

Schwarz Dygos Wheeler Investment Advisors LLC decreased its holdings in 3M (NYSE:MMM) by 24.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,129 shares of the conglomerate’s stock after selling 1,309 shares during the quarter. Schwarz Dygos Wheeler Investment Advisors LLC’s holdings in 3M were worth $451,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fragasso Group Inc. increased its stake in shares of 3M by 3.8% during the 3rd quarter. Fragasso Group Inc. now owns 2,556 shares of the conglomerate’s stock worth $239,000 after purchasing an additional 93 shares during the last quarter. Bangor Savings Bank lifted its position in shares of 3M by 1.0% in the fourth quarter. Bangor Savings Bank now owns 10,489 shares of the conglomerate’s stock worth $1,147,000 after buying an additional 104 shares during the last quarter. Allen Capital Group LLC increased its holdings in shares of 3M by 0.5% during the 4th quarter. Allen Capital Group LLC now owns 20,931 shares of the conglomerate’s stock valued at $2,288,000 after acquiring an additional 105 shares during the last quarter. N.E.W. Advisory Services LLC increased its holdings in shares of 3M by 4.0% during the 3rd quarter. N.E.W. Advisory Services LLC now owns 2,900 shares of the conglomerate’s stock valued at $272,000 after acquiring an additional 111 shares during the last quarter. Finally, Money Concepts Capital Corp lifted its holdings in 3M by 5.3% in the 3rd quarter. Money Concepts Capital Corp now owns 2,244 shares of the conglomerate’s stock worth $210,000 after purchasing an additional 112 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MMM shares. Mizuho reissued a “neutral” rating and issued a $105.00 price target on shares of 3M in a research report on Wednesday, March 27th. Barclays cut their target price on shares of 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a research report on Tuesday, April 2nd. StockNews.com raised shares of 3M from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Wells Fargo & Company decreased their price objective on 3M from $112.00 to $105.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 24th. Finally, Citigroup upped their price target on 3M from $95.31 to $98.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, 3M presently has an average rating of “Hold” and an average target price of $104.00.

3M Trading Up 0.5 %

Shares of NYSE:MMM traded up $0.42 during midday trading on Friday, hitting $91.83. The company had a trading volume of 4,520,901 shares, compared to its average volume of 4,283,067. 3M has a 12 month low of $71.12 and a 12 month high of $95.67. The firm has a fifty day simple moving average of $95.71 and a 200 day simple moving average of $97.37. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 2.69. The stock has a market cap of $50.82 billion, a price-to-earnings ratio of -7.27, a PEG ratio of 1.73 and a beta of 1.02.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.11. The firm had revenue of $8.01 billion during the quarter, compared to analysts’ expectations of $7.69 billion. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.28 earnings per share. On average, analysts predict that 3M will post 8.19 EPS for the current year.

3M Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were paid a $1.51 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.04 dividend on an annualized basis and a yield of 6.58%. This is a positive change from 3M’s previous quarterly dividend of $1.50. 3M’s payout ratio is presently -47.82%.

Insider Transactions at 3M

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of 3M stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total value of $39,328.32. Following the sale, the insider now directly owns 3,966 shares in the company, valued at $366,141.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is owned by insiders.

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.