Caldwell Sutter Capital Inc. Sells 418 Shares of 3M (NYSE:MMM)

Caldwell Sutter Capital Inc. lessened its position in 3M (NYSE:MMM) by 10.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,657 shares of the conglomerate’s stock after selling 418 shares during the quarter. Caldwell Sutter Capital Inc.’s holdings in 3M were worth $537,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. CVA Family Office LLC increased its stake in 3M by 5.2% in the 1st quarter. CVA Family Office LLC now owns 4,466 shares of the conglomerate’s stock valued at $656,000 after buying an additional 220 shares during the last quarter. Everhart Financial Group Inc. grew its holdings in shares of 3M by 19.2% in the 1st quarter. Everhart Financial Group Inc. now owns 3,282 shares of the conglomerate’s stock valued at $482,000 after acquiring an additional 529 shares in the last quarter. Marshall Financial Group LLC bought a new stake in 3M during the first quarter worth about $226,000. RMR Wealth Builders raised its holdings in 3M by 4.3% during the first quarter. RMR Wealth Builders now owns 13,536 shares of the conglomerate’s stock worth $1,988,000 after acquiring an additional 554 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC boosted its position in 3M by 51.8% during the first quarter. NorthCrest Asset Manangement LLC now owns 4,036 shares of the conglomerate’s stock valued at $593,000 after purchasing an additional 1,377 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

Insider Activity at 3M

In other news, EVP Zoe L. Dickson sold 7,915 shares of 3M stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $149.02, for a total transaction of $1,179,493.30. Following the completion of the sale, the executive vice president now owns 6,127 shares of the company’s stock, valued at approximately $913,045.54. This trade represents a 56.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John Patrick Banovetz sold 7,759 shares of the company’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $148.37, for a total transaction of $1,151,202.83. Following the completion of the transaction, the executive vice president now owns 31,372 shares in the company, valued at $4,654,663.64. This trade represents a 19.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of 3M in a research note on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of 3M from $140.00 to $167.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. Barclays upped their price target on shares of 3M from $160.00 to $164.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 23rd. Royal Bank of Canada increased their price target on shares of 3M from $98.00 to $100.00 and gave the company an “underperform” rating in a research note on Wednesday, April 23rd. Finally, Bank of America boosted their price objective on shares of 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.83.

3M Stock Performance

NYSE MMM opened at $142.17 on Friday. The stock has a market cap of $76.51 billion, a PE ratio of 18.83, a P/E/G ratio of 3.30 and a beta of 1.03. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The firm has a 50-day moving average of $142.25 and a 200-day moving average of $141.77. 3M has a 52-week low of $98.26 and a 52-week high of $156.35.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.11. 3M had a net margin of 15.71% and a return on equity of 100.77%. The firm had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.78 billion. On average, sell-side analysts anticipate that 3M will post 7.8 EPS for the current year.

3M Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were issued a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 2.05%. 3M’s payout ratio is currently 36.87%.

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.