3M (NYSE:MMM) Shares Sold by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC decreased its stake in 3M (NYSE:MMM) by 28.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 15,629 shares of the conglomerate’s stock after selling 6,226 shares during the period. Bryn Mawr Capital Management LLC’s holdings in 3M were worth $1,709,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Fragasso Group Inc. increased its holdings in shares of 3M by 3.8% in the 3rd quarter. Fragasso Group Inc. now owns 2,556 shares of the conglomerate’s stock valued at $239,000 after purchasing an additional 93 shares in the last quarter. Bangor Savings Bank grew its holdings in shares of 3M by 1.0% during the fourth quarter. Bangor Savings Bank now owns 10,489 shares of the conglomerate’s stock worth $1,147,000 after buying an additional 104 shares in the last quarter. Allen Capital Group LLC grew its holdings in shares of 3M by 0.5% during the fourth quarter. Allen Capital Group LLC now owns 20,931 shares of the conglomerate’s stock worth $2,288,000 after buying an additional 105 shares in the last quarter. N.E.W. Advisory Services LLC grew its holdings in shares of 3M by 4.0% during the third quarter. N.E.W. Advisory Services LLC now owns 2,900 shares of the conglomerate’s stock worth $272,000 after buying an additional 111 shares in the last quarter. Finally, Money Concepts Capital Corp grew its holdings in 3M by 5.3% in the third quarter. Money Concepts Capital Corp now owns 2,244 shares of the conglomerate’s stock valued at $210,000 after purchasing an additional 112 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Stock Performance

MMM stock traded up $0.39 during midday trading on Friday, hitting $91.80. The stock had a trading volume of 4,519,673 shares, compared to its average volume of 5,728,667. The firm has a market capitalization of $50.80 billion, a price-to-earnings ratio of -7.27, a P/E/G ratio of 1.82 and a beta of 1.02. 3M has a 52 week low of $71.12 and a 52 week high of $95.67. The stock has a 50-day simple moving average of $95.71 and a 200 day simple moving average of $97.37. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 2.69.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.11. 3M had a positive return on equity of 62.45% and a negative net margin of 21.40%. The company had revenue of $8.01 billion during the quarter, compared to analysts’ expectations of $7.69 billion. During the same period last year, the business earned $2.28 earnings per share. The business’s revenue was down 1.1% on a year-over-year basis. As a group, equities research analysts anticipate that 3M will post 7.87 earnings per share for the current year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 16th were given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 6.58%. 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. 3M’s dividend payout ratio (DPR) is presently -47.82%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MMM. JPMorgan Chase & Co. lowered their target price on shares of 3M from $118.00 to $110.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Mizuho reaffirmed a “neutral” rating and issued a $105.00 price target on shares of 3M in a report on Wednesday, March 27th. Wells Fargo & Company lowered their target price on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 24th. Barclays lowered their target price on shares of 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a research note on Tuesday, April 2nd. Finally, Citigroup upped their price target on shares of 3M from $95.31 to $98.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, 3M has a consensus rating of “Hold” and a consensus target price of $104.00.

Insider Buying and Selling

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total transaction of $39,328.32. Following the completion of the transaction, the insider now directly owns 3,966 shares in the company, valued at approximately $366,141.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.34% of the company’s stock.

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.