Dynamic Advisor Solutions LLC Has $3.64 Million Stock Holdings in 3M (NYSE:MMM)

Dynamic Advisor Solutions LLC cut its position in shares of 3M (NYSE:MMM) by 1.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,300 shares of the conglomerate’s stock after selling 229 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in 3M were worth $3,635,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Newton One Investments LLC acquired a new stake in 3M during the second quarter worth about $37,000. Anfield Capital Management LLC acquired a new stake in 3M during the second quarter valued at approximately $37,000. Lake Point Wealth Management acquired a new stake in 3M during the second quarter valued at approximately $38,000. Smith Asset Management Group LP acquired a new stake in 3M during the second quarter valued at approximately $40,000. Finally, tru Independence LLC acquired a new stake in 3M during the second quarter valued at approximately $46,000. 66.82% of the stock is currently owned by institutional investors and hedge funds.

MMM stock traded up $1.17 during trading on Wednesday, hitting $183.59. The company had a trading volume of 47,915 shares, compared to its average volume of 2,424,369. The company has a quick ratio of 1.22, a current ratio of 1.73 and a debt-to-equity ratio of 1.12. The firm has a 50-day moving average price of $196.65 and a 200-day moving average price of $196.42. 3M has a 12 month low of $156.13 and a 12 month high of $208.95. The stock has a market cap of $106.23 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 1.92 and a beta of 0.96.

3M (NYSE:MMM) last posted its quarterly earnings data on Monday, July 26th. The conglomerate reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.31. 3M had a net margin of 17.13% and a return on equity of 44.72%. The firm had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.59 billion. During the same quarter in the previous year, the company posted $1.78 EPS. 3M’s revenue was up 24.0% on a year-over-year basis. Equities analysts expect that 3M will post 10.11 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 12th. Investors of record on Monday, August 23rd were given a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend was Friday, August 20th. 3M’s dividend payout ratio (DPR) is presently 67.73%.

In other 3M news, EVP John Patrick Banovetz sold 3,236 shares of the company’s stock in a transaction on Tuesday, August 10th. The shares were sold at an average price of $197.93, for a total transaction of $640,501.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Denise R. Rutherford sold 3,135 shares of the company’s stock in a transaction on Monday, August 2nd. The shares were sold at an average price of $198.17, for a total transaction of $621,262.95. The disclosure for this sale can be found here. Insiders sold a total of 20,666 shares of company stock valued at $4,103,569 in the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

A number of research firms have weighed in on MMM. Morgan Stanley lifted their price objective on 3M from $200.00 to $213.00 and gave the company an “equal weight” rating in a report on Wednesday, July 28th. Deutsche Bank Aktiengesellschaft lifted their price objective on 3M from $196.00 to $201.00 and gave the company a “hold” rating in a report on Wednesday, July 28th. Credit Suisse Group downgraded 3M from an “outperform” rating to a “neutral” rating and lifted their price objective for the company from $210.00 to $212.00 in a report on Tuesday, July 6th. Zacks Investment Research raised 3M from a “hold” rating to a “buy” rating and set a $208.00 price objective on the stock in a report on Friday, August 6th. Finally, Argus boosted their target price on 3M from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, July 28th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $198.92.

About 3M

3M Co is a technology company, which manufactures industrial, safety and consumer products. It operates through the following segments: Safety and Industrial, Transportation and Electronics, Health Care, and Consumer. The Safety and Industrial segment consists of personal safety, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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