Larson Financial Group LLC Sells 556 Shares of 3M (NYSE:MMM)

Larson Financial Group LLC lowered its stake in shares of 3M (NYSE:MMM) by 2.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,665 shares of the conglomerate’s stock after selling 556 shares during the quarter. Larson Financial Group LLC’s holdings in 3M were worth $2,040,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Fragasso Group Inc. grew its position in 3M by 3.8% during the 3rd quarter. Fragasso Group Inc. now owns 2,556 shares of the conglomerate’s stock valued at $239,000 after purchasing an additional 93 shares during the last quarter. Bangor Savings Bank grew its position in 3M by 1.0% during the 4th quarter. Bangor Savings Bank now owns 10,489 shares of the conglomerate’s stock valued at $1,147,000 after purchasing an additional 104 shares during the last quarter. Allen Capital Group LLC grew its position in 3M by 0.5% during the 4th quarter. Allen Capital Group LLC now owns 20,931 shares of the conglomerate’s stock valued at $2,288,000 after purchasing an additional 105 shares during the last quarter. N.E.W. Advisory Services LLC grew its position in 3M by 4.0% during the 3rd quarter. N.E.W. Advisory Services LLC now owns 2,900 shares of the conglomerate’s stock valued at $272,000 after purchasing an additional 111 shares during the last quarter. Finally, Money Concepts Capital Corp lifted its stake in 3M by 5.3% during the 3rd quarter. Money Concepts Capital Corp now owns 2,244 shares of the conglomerate’s stock valued at $210,000 after acquiring an additional 112 shares during the period. Institutional investors own 65.25% of the company’s stock.

3M Stock Performance

3M stock traded up $0.67 during midday trading on Tuesday, hitting $93.29. The stock had a trading volume of 1,647,834 shares, compared to its average volume of 5,775,730. The firm’s fifty day moving average is $95.72 and its two-hundred day moving average is $97.40. The company has a market capitalization of $51.62 billion, a PE ratio of -7.44, a P/E/G ratio of 1.63 and a beta of 1.02. 3M has a 52-week low of $71.12 and a 52-week high of $95.67. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 2.69.

3M (NYSE:MMM) last released its earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.11. The company had revenue of $8.01 billion during the quarter, compared to analyst estimates of $7.69 billion. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.28 EPS. On average, research analysts forecast that 3M will post 8.79 EPS for the current year.

3M Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 16th were issued a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 6.47%. This is a positive change from 3M’s previous quarterly dividend of $1.50. The ex-dividend date was Thursday, February 15th. 3M’s dividend payout ratio is currently -47.82%.

Insider Buying and Selling

In related news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total value of $39,328.32. Following the completion of the sale, the insider now directly owns 3,966 shares of the company’s stock, valued at approximately $366,141.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.38% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Barclays lowered their target price on shares of 3M from $126.00 to $107.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 2nd. StockNews.com upgraded shares of 3M from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 16th. JPMorgan Chase & Co. lowered their target price on shares of 3M from $118.00 to $110.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Wells Fargo & Company lowered their target price on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 24th. Finally, Mizuho restated a “neutral” rating and set a $105.00 target price on shares of 3M in a research note on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $104.00.

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.