Bath Savings Trust Co lessened its position in shares of 3M Company (NYSE:MMM) by 1.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,167 shares of the conglomerate’s stock after selling 115 shares during the quarter. Bath Savings Trust Co’s holdings in 3M were worth $1,284,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Jackson Grant Investment Advisers Inc. grew its holdings in 3M by 0.6% during the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 718 shares of the conglomerate’s stock valued at $137,000 after buying an additional 4 shares in the last quarter. Founders Capital Management LLC grew its holdings in 3M by 0.4% during the 1st quarter. Founders Capital Management LLC now owns 1,939 shares of the conglomerate’s stock valued at $371,000 after buying an additional 8 shares in the last quarter. Baystate Wealth Management LLC grew its holdings in 3M by 0.6% during the 1st quarter. Baystate Wealth Management LLC now owns 1,950 shares of the conglomerate’s stock valued at $370,000 after buying an additional 11 shares in the last quarter. Capital Management Corp VA grew its holdings in 3M by 0.3% during the 1st quarter. Capital Management Corp VA now owns 3,934 shares of the conglomerate’s stock valued at $753,000 after buying an additional 11 shares in the last quarter. Finally, Smith Chas P & Associates PA Cpas grew its holdings in 3M by 0.7% during the 1st quarter. Smith Chas P & Associates PA Cpas now owns 1,952 shares of the conglomerate’s stock valued at $374,000 after buying an additional 13 shares in the last quarter. Institutional investors and hedge funds own 66.31% of the company’s stock.

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Several equities analysts have weighed in on MMM shares. Jefferies Group LLC restated a “buy” rating and set a $219.00 price target on shares of 3M in a report on Friday, May 26th. Zacks Investment Research cut 3M from a “buy” rating to a “hold” rating in a report on Thursday, May 25th. Citigroup Inc. restated a “buy” rating and set a $229.00 price target (up previously from $220.00) on shares of 3M in a report on Saturday, June 3rd. Bank of America Corporation reiterated a “buy” rating and issued a $225.00 target price (up previously from $208.00) on shares of 3M in a report on Tuesday, June 6th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $191.00 target price (down previously from $193.00) on shares of 3M in a report on Monday, July 10th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. 3M currently has an average rating of “Hold” and an average target price of $206.68.

In related news, insider Frank R. Jr. Little sold 2,719 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $206.03, for a total value of $560,195.57. Following the completion of the transaction, the insider now directly owns 9,010 shares in the company, valued at $1,856,330.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul A. Keel sold 4,965 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $206.16, for a total value of $1,023,584.40. Following the completion of the transaction, the insider now owns 5,503 shares of the company’s stock, valued at $1,134,498.48. The disclosure for this sale can be found here. Insiders sold 9,112 shares of company stock valued at $1,878,890 over the last quarter. 0.58% of the stock is currently owned by company insiders.

Shares of 3M Company (MMM) traded up 0.27% during midday trading on Thursday, hitting $210.05. The company had a trading volume of 421,245 shares. 3M Company has a 12 month low of $163.85 and a 12 month high of $214.57. The company has a 50-day moving average of $204.38 and a 200-day moving average of $200.55. The company has a market capitalization of $125.35 billion, a PE ratio of 23.96 and a beta of 1.08.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $2.58 earnings per share for the quarter, missing the consensus estimate of $2.59 by ($0.01). The business had revenue of $7.81 billion during the quarter, compared to analysts’ expectations of $7.86 billion. 3M had a return on equity of 47.83% and a net margin of 17.65%. The company’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.08 earnings per share. Analysts predict that 3M Company will post $8.94 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Friday, August 25th were given a $1.175 dividend. The ex-dividend date was Wednesday, August 23rd. This represents a $4.70 annualized dividend and a yield of 2.24%. 3M’s payout ratio is 53.59%.

3M Company Profile

3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.

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

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