3M Company (MMM) Shares Sold by Legacy Capital Partners Inc.

Legacy Capital Partners Inc. reduced its stake in shares of 3M Company (NYSE:MMM) by 3.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,686 shares of the conglomerate’s stock after selling 510 shares during the quarter. 3M makes up about 1.7% of Legacy Capital Partners Inc.’s holdings, making the stock its 22nd biggest holding. Legacy Capital Partners Inc.’s holdings in 3M were worth $3,292,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. MPS Loria Financial Planners LLC purchased a new stake in shares of 3M in the 2nd quarter worth about $124,000. Hoertkorn Richard Charles purchased a new stake in 3M during the 3rd quarter valued at about $126,000. Proficio Capital Partners LLC grew its position in 3M by 156.0% during the 1st quarter. Proficio Capital Partners LLC now owns 663 shares of the conglomerate’s stock valued at $131,000 after purchasing an additional 404 shares during the last quarter. Harfst & Associates Inc. grew its position in 3M by 17.0% during the 2nd quarter. Harfst & Associates Inc. now owns 688 shares of the conglomerate’s stock valued at $143,000 after purchasing an additional 100 shares during the last quarter. Finally, Mascoma Wealth Management LLC grew its position in 3M by 87.5% during the 3rd quarter. Mascoma Wealth Management LLC now owns 750 shares of the conglomerate’s stock valued at $157,000 after purchasing an additional 350 shares during the last quarter. 66.32% of the stock is currently owned by hedge funds and other institutional investors.

In other 3M news, insider Frank R. Jr. Little sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $234.47, for a total transaction of $351,705.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Khandpur K. Ashish sold 4,004 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $231.39, for a total transaction of $926,485.56. Following the sale, the vice president now owns 5,236 shares in the company, valued at approximately $1,211,558.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,804 shares of company stock worth $5,303,706. 0.58% of the stock is owned by company insiders.

Several brokerages recently commented on MMM. Citigroup Inc. increased their price objective on shares of 3M from $250.00 to $262.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Goldman Sachs Group, Inc. (The) reissued a “sell” rating on shares of 3M in a research report on Thursday, October 26th. Stifel Nicolaus increased their price objective on shares of 3M from $220.00 to $244.00 and gave the company a “hold” rating in a research report on Wednesday, October 25th. Royal Bank Of Canada increased their price objective on shares of 3M from $205.00 to $209.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 25th. Finally, Argus increased their price objective on shares of 3M from $220.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $231.16.

Shares of 3M Company (MMM) traded up $3.79 during trading hours on Monday, hitting $233.15. 555,624 shares of the stock traded hands, compared to its average volume of 1,834,406. 3M Company has a 52-week low of $170.72 and a 52-week high of $238.90. The company has a market cap of $136,608.69, a PE ratio of 25.63, a PEG ratio of 2.49 and a beta of 1.08. The company has a quick ratio of 1.47, a current ratio of 2.07 and a debt-to-equity ratio of 0.89.

3M (NYSE:MMM) last released its earnings results on Tuesday, October 24th. The conglomerate reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. 3M had a net margin of 17.71% and a return on equity of 48.55%. The company had revenue of $8.17 billion for the quarter, compared to analysts’ expectations of $7.93 billion. During the same quarter last year, the business earned $2.15 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. equities analysts forecast that 3M Company will post 9.08 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Friday, November 24th will be paid a dividend of $0.0118 per share. This represents a $0.05 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date of this dividend is Wednesday, November 22nd. 3M’s payout ratio is 52.51%.

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3M 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, , 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.

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

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