Calton & Associates Inc. Reduces Stock Holdings in 3M (NYSE:MMM)

Calton & Associates Inc. lessened its holdings in 3M (NYSE:MMM) by 18.5% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,207 shares of the conglomerate’s stock after selling 500 shares during the period. Calton & Associates Inc.’s holdings in 3M were worth $226,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tributary Capital Management LLC bought a new stake in shares of 3M during the 1st quarter valued at $25,000. Financial Synergies Wealth Advisors Inc. lifted its position in shares of 3M by 419.1% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock valued at $26,000 after buying an additional 197 shares in the last quarter. Northwest Investment Counselors LLC bought a new position in shares of 3M during the 1st quarter valued at approximately $32,000. TruNorth Capital Management LLC purchased a new stake in 3M in the 2nd quarter worth approximately $33,000. Finally, Livelsberger Financial Advisory bought a new stake in 3M during the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Stock Down 0.1 %

MMM stock traded down $0.11 on Friday, hitting $127.05. 3,812,693 shares of the company’s stock were exchanged, compared to its average volume of 5,347,996. The firm has a 50 day moving average price of $109.69 and a two-hundred day moving average price of $101.13. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.08 and a current ratio of 1.36. 3M has a 12-month low of $71.12 and a 12-month high of $128.65. The stock has a market cap of $70.30 billion, a P/E ratio of -9.99, a price-to-earnings-growth ratio of 2.34 and a beta of 0.95.

3M (NYSE:MMM) last issued its quarterly earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.25. The business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.85 billion. 3M had a return on equity of 112.92% and a net margin of 3.08%. During the same quarter in the previous year, the firm earned $2.17 earnings per share. As a group, equities research analysts expect that 3M will post 7.21 EPS for the current fiscal year.

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Monday, August 26th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.20%. 3M’s dividend payout ratio (DPR) is presently -22.01%.

Insider Transactions at 3M

In related news, CFO Theresa E. Reinseth sold 2,100 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total value of $260,652.00. Following the transaction, the chief financial officer now owns 4,364 shares in the company, valued at approximately $541,659.68. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Chairman Michael F. Roman sold 5,675 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total value of $700,635.50. Following the completion of the transaction, the chairman now owns 174,036 shares of the company’s stock, valued at approximately $21,486,484.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Theresa E. Reinseth sold 2,100 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total value of $260,652.00. Following the sale, the chief financial officer now directly owns 4,364 shares in the company, valued at $541,659.68. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Wells Fargo & Company increased their price objective on shares of 3M from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 10th. JPMorgan Chase & Co. raised 3M from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $110.00 to $111.00 in a research note on Wednesday, May 1st. Argus raised 3M from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a research report on Tuesday, July 30th. HSBC upgraded 3M from a “hold” rating to a “buy” rating and raised their price target for the stock from $91.13 to $115.00 in a research report on Friday, May 10th. Finally, Deutsche Bank Aktiengesellschaft raised shares of 3M from a “hold” rating to a “buy” rating and increased their price objective for the stock from $110.00 to $150.00 in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, 3M presently has a consensus rating of “Hold” and an average target price of $123.57.

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.