3M (NYSE:MMM) Shares Sold by Intellectus Partners LLC

Intellectus Partners LLC lowered its position in shares of 3M (NYSE:MMM) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,675 shares of the conglomerate’s stock after selling 259 shares during the quarter. Intellectus Partners LLC’s holdings in 3M were worth $1,167,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Opinicus Capital Inc. acquired a new stake in 3M during the 4th quarter valued at approximately $350,000. Alliance Wealth Advisors LLC UT lifted its holdings in 3M by 3.6% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 4,071 shares of the conglomerate’s stock worth $445,000 after buying an additional 140 shares during the last quarter. Addison Advisors LLC lifted its holdings in shares of 3M by 46.1% in the 4th quarter. Addison Advisors LLC now owns 2,307 shares of the conglomerate’s stock worth $252,000 after purchasing an additional 728 shares during the last quarter. Citizens Financial Group Inc. RI lifted its holdings in shares of 3M by 8.3% in the 4th quarter. Citizens Financial Group Inc. RI now owns 13,619 shares of the conglomerate’s stock worth $1,489,000 after purchasing an additional 1,040 shares during the last quarter. Finally, Golden State Equity Partners raised its stake in 3M by 4.3% during the 4th quarter. Golden State Equity Partners now owns 3,645 shares of the conglomerate’s stock valued at $398,000 after acquiring an additional 151 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Stock Performance

Shares of 3M stock traded up $0.42 during trading on Friday, reaching $91.83. The company’s stock had a trading volume of 4,520,901 shares, compared to its average volume of 4,283,067. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.76 and a current ratio of 1.07. The business’s fifty day moving average price is $95.71 and its 200-day moving average price is $97.41. The firm has a market cap of $50.82 billion, a price-to-earnings ratio of -7.27, a price-to-earnings-growth ratio of 1.74 and a beta of 1.02. 3M has a one year low of $71.12 and a one year high of $95.67.

3M Increases Dividend

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Mizuho reiterated a “neutral” rating and set a $105.00 price target on shares of 3M in a research report on Wednesday, March 27th. Citigroup lifted their price target on 3M from $95.31 to $98.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Barclays lowered their price target on 3M from $126.00 to $107.00 and set an “overweight” rating on the stock in a report on Tuesday, April 2nd. Royal Bank of Canada lowered their price target on 3M from $84.00 to $78.00 and set an “underperform” rating on the stock in a report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. lowered their price target on 3M from $118.00 to $110.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $104.00.

Insider Activity at 3M

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total value of $39,328.32. Following the transaction, the insider now directly owns 3,966 shares of the company’s stock, valued at approximately $366,141.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.