Buckley Wealth Management LLC Sells 150 Shares of 3M (NYSE:MMM)

Buckley Wealth Management LLC decreased its stake in shares of 3M (NYSE:MMM) by 0.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,389 shares of the conglomerate’s stock after selling 150 shares during the period. 3M makes up about 1.2% of Buckley Wealth Management LLC’s investment portfolio, making the stock its 18th largest holding. Buckley Wealth Management LLC’s holdings in 3M were worth $4,017,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in MMM. RFG Advisory LLC boosted its position in shares of 3M by 86.9% during the first quarter. RFG Advisory LLC now owns 6,765 shares of the conglomerate’s stock worth $718,000 after buying an additional 3,145 shares during the period. &PARTNERS boosted its position in 3M by 9.8% during the 1st quarter. &PARTNERS now owns 7,202 shares of the conglomerate’s stock worth $764,000 after acquiring an additional 641 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in shares of 3M during the 1st quarter worth approximately $32,000. Range Financial Group LLC lifted its position in shares of 3M by 15.9% in the first quarter. Range Financial Group LLC now owns 7,523 shares of the conglomerate’s stock worth $798,000 after purchasing an additional 1,034 shares in the last quarter. Finally, Southland Equity Partners LLC boosted its holdings in 3M by 10.1% during the first quarter. Southland Equity Partners LLC now owns 2,127 shares of the conglomerate’s stock worth $226,000 after purchasing an additional 195 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on MMM shares. StockNews.com cut shares of 3M from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Mizuho upped their price objective on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research note on Thursday. Argus raised shares of 3M from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised shares of 3M from a “hold” rating to a “buy” rating and upped their price target for the stock from $110.00 to $150.00 in a research report on Monday, July 29th. Finally, Wells Fargo & Company lifted their price objective on shares of 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, 3M has a consensus rating of “Hold” and a consensus target price of $130.57.

3M Stock Performance

Shares of MMM stock traded down $0.54 on Friday, hitting $135.14. The company’s stock had a trading volume of 2,791,646 shares, compared to its average volume of 4,893,641. 3M has a fifty-two week low of $71.12 and a fifty-two week high of $140.72. The company has a market capitalization of $74.78 billion, a PE ratio of -10.62, a PEG ratio of 2.49 and a beta of 0.95. The stock’s 50 day moving average is $132.67 and its 200-day moving average is $112.73. 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 (NYSE:MMM) last announced its earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.25. The firm had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.85 billion. 3M had a net margin of 3.08% and a return on equity of 112.92%. During the same quarter in the prior year, the business posted $2.17 EPS. Equities research analysts expect that 3M will post 7.24 earnings per share for the current fiscal year.

3M Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 26th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Monday, August 26th. 3M’s payout ratio is currently -22.01%.

Insider Activity at 3M

In related news, Chairman Michael F. Roman sold 5,675 shares of 3M stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total value of $700,635.50. Following the transaction, the chairman now directly owns 174,036 shares of the company’s stock, valued at $21,486,484.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other 3M news, Chairman Michael F. Roman sold 5,675 shares of 3M 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 transaction, the chairman now owns 174,036 shares in the company, valued at $21,486,484.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Theresa E. Reinseth sold 2,100 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total transaction of $260,652.00. Following the completion of the transaction, the chief financial officer now directly owns 4,364 shares of the company’s stock, valued at $541,659.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 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.