Hyman Charles D Sells 6,084 Shares of 3M (NYSE:MMM)

Hyman Charles D lowered its holdings in 3M (NYSE:MMM) by 11.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,549 shares of the conglomerate’s stock after selling 6,084 shares during the period. Hyman Charles D’s holdings in 3M were worth $5,198,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of MMM. Briaud Financial Planning Inc bought a new position in shares of 3M in the third quarter worth $35,000. Authentikos Wealth Advisory LLC purchased a new position in 3M during the 3rd quarter valued at about $37,000. CGC Financial Services LLC grew its stake in 3M by 89.9% during the fourth quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock valued at $37,000 after acquiring an additional 160 shares in the last quarter. VisionPoint Advisory Group LLC lifted its stake in 3M by 91.9% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate’s stock worth $42,000 after purchasing an additional 215 shares in the last quarter. Finally, Psagot Value Holdings Ltd. Israel purchased a new stake in shares of 3M in the third quarter worth $44,000. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. 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. JPMorgan Chase & Co. raised shares of 3M from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $110.00 to $111.00 in a research note on Wednesday, May 1st. Royal Bank of Canada increased their price target on shares of 3M from $78.00 to $87.00 and gave the stock an “underperform” rating in a report on Wednesday, May 1st. Mizuho reissued a “neutral” rating and issued a $105.00 price target on shares of 3M in a research note on Wednesday, March 27th. Finally, Bank of America decreased their price objective on 3M from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, 3M presently has a consensus rating of “Hold” and an average target price of $103.70.

Insider Buying and Selling at 3M

In related news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total transaction of $39,328.32. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.38% of the stock is owned by company insiders.

3M Stock Down 1.1 %

Shares of NYSE MMM traded down $1.04 during mid-day trading on Tuesday, hitting $95.55. 4,408,683 shares of the stock traded hands, compared to its average volume of 5,865,751. The company has a market cap of $52.87 billion, a price-to-earnings ratio of -7.51, a PEG ratio of 1.79 and a beta of 1.00. The stock has a fifty day moving average price of $96.30 and a 200-day moving average price of $97.84. 3M has a 52 week low of $71.12 and a 52 week high of $99.70. The company has a debt-to-equity ratio of 4.17, a quick ratio of 1.27 and a current ratio of 1.64.

3M (NYSE:MMM) last announced its earnings results on Tuesday, April 30th. The conglomerate reported $2.39 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.29. The firm had revenue of $8 billion for the quarter, compared to analysts’ expectations of $7.64 billion. 3M had a negative net margin of 21.57% and a positive return on equity of 95.80%. During the same quarter in the previous year, the business posted $1.97 EPS. Research analysts anticipate that 3M will post 7.23 EPS for the current year.

3M Company 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.