3M (NYSE:MMM) Shares Sold by Investment House LLC

Investment House LLC decreased its stake in shares of 3M (NYSE:MMM) by 3.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,608 shares of the conglomerate’s stock after selling 217 shares during the period. Investment House LLC’s holdings in 3M were worth $722,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of MMM. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in 3M by 15.4% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 110,988 shares of the conglomerate’s stock worth $10,391,000 after purchasing an additional 14,775 shares in the last quarter. Shoker Investment Counsel Inc. grew its holdings in 3M by 49.7% during the third quarter. Shoker Investment Counsel Inc. now owns 16,747 shares of the conglomerate’s stock worth $1,568,000 after acquiring an additional 5,561 shares during the period. Diversified Trust Co raised its position in 3M by 1.4% in the fourth quarter. Diversified Trust Co now owns 18,487 shares of the conglomerate’s stock worth $2,021,000 after acquiring an additional 263 shares in the last quarter. MWA Asset Management bought a new position in shares of 3M during the 4th quarter valued at about $1,723,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of 3M in the 3rd quarter worth approximately $11,908,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

Insider Transactions at 3M

In related news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the company’s stock in a transaction 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 in the company, valued at $366,141.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.38% of the stock is currently owned by company insiders.

3M Stock Up 5.8 %

Shares of 3M stock opened at $97.50 on Tuesday. The firm has a market cap of $53.95 billion, a price-to-earnings ratio of -7.30, a P/E/G ratio of 1.74 and a beta of 1.02. The stock has a 50-day simple moving average of $95.73 and a 200-day simple moving average of $97.49. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.07 and a quick ratio of 0.76. 3M has a 52-week low of $71.12 and a 52-week high of $97.50.

3M Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th were paid a dividend of $1.51 per share. This is a positive change from 3M’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.04 annualized dividend and a dividend yield of 6.19%. 3M’s dividend payout ratio is -47.82%.

Wall Street Analyst Weigh In

Several research firms have issued reports on MMM. StockNews.com raised 3M from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 25th. Wells Fargo & Company dropped their price target on 3M from $112.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 24th. Royal Bank of Canada reduced their price objective on shares of 3M from $84.00 to $78.00 and set an “underperform” rating for the company in a research note on Tuesday, April 2nd. Barclays dropped 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. Finally, Bank of America reduced their price target on shares of 3M from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $104.00.

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.