PDS Planning Inc Sells 995 Shares of 3M (NYSE:MMM)

PDS Planning Inc decreased its stake in shares of 3M (NYSE:MMM) by 25.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,928 shares of the conglomerate’s stock after selling 995 shares during the quarter. PDS Planning Inc’s holdings in 3M were worth $320,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Briaud Financial Planning Inc bought a new position in shares of 3M during the 3rd quarter worth about $35,000. Authentikos Wealth Advisory LLC bought a new position in shares of 3M during the 3rd quarter worth about $37,000. CGC Financial Services LLC increased its holdings in shares of 3M by 89.9% during the 4th quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock worth $37,000 after purchasing an additional 160 shares during the period. VisionPoint Advisory Group LLC increased its holdings in shares of 3M by 91.9% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate’s stock worth $42,000 after purchasing an additional 215 shares during the period. Finally, Psagot Value Holdings Ltd. Israel bought a new position in shares of 3M during the 3rd quarter worth about $44,000. Institutional investors own 65.25% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on MMM shares. Barclays decreased their target price on shares of 3M from $126.00 to $107.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 2nd. Royal Bank of Canada decreased their target price on shares of 3M from $84.00 to $78.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 2nd. Bank of America decreased their target price on shares of 3M from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. decreased their target price on shares of 3M from $118.00 to $110.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Finally, Citigroup boosted their price target on shares of 3M from $95.31 to $98.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $104.00.

Insider Buying and Selling

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the company’s 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 owns 3,966 shares of the company’s stock, valued at $366,141.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.38% of the stock is currently owned by insiders.

3M Price Performance

Shares of NYSE MMM traded up $0.66 during trading on Tuesday, reaching $93.28. The company had a trading volume of 1,417,091 shares, compared to its average volume of 5,773,568. 3M has a 52 week low of $71.12 and a 52 week high of $95.67. The stock has a market cap of $51.62 billion, a PE ratio of -7.44, a PEG ratio of 1.63 and a beta of 1.02. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.76 and a current ratio of 1.07. The business’s 50 day moving average price is $95.72 and its 200-day moving average price is $97.40.

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

3M Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 16th were paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 6.48%. This is an increase from 3M’s previous quarterly dividend of $1.50. The ex-dividend date was Thursday, February 15th. 3M’s payout ratio is -47.82%.

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.