3M (NYSE:MMM) Shares Sold by Schwarz Dygos Wheeler Investment Advisors LLC

Schwarz Dygos Wheeler Investment Advisors LLC cut its stake in shares of 3M (NYSE:MMM) by 24.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,129 shares of the conglomerate’s stock after selling 1,309 shares during the quarter. Schwarz Dygos Wheeler Investment Advisors LLC’s holdings in 3M were worth $451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Briaud Financial Planning Inc acquired a new position in 3M in the 3rd quarter valued at about $35,000. Authentikos Wealth Advisory LLC purchased a new position in 3M in the third quarter worth approximately $37,000. CGC Financial Services LLC increased its stake in 3M by 89.9% during the fourth quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock worth $37,000 after acquiring an additional 160 shares during the last quarter. VisionPoint Advisory Group LLC lifted its stake in shares of 3M by 91.9% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate’s stock valued at $42,000 after purchasing an additional 215 shares during the last quarter. Finally, Psagot Value Holdings Ltd. Israel acquired a new stake in shares of 3M during the 3rd quarter worth about $44,000. 65.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity at 3M

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 value of $39,328.32. Following the completion of the sale, the insider now directly owns 3,966 shares of the company’s stock, valued at approximately $366,141.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. 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. Bank of America dropped their target price on shares of 3M from $110.00 to $100.00 and set a “neutral” rating for the company in a report on Tuesday, April 2nd. Mizuho restated a “neutral” rating and set a $105.00 price target on shares of 3M in a research report on Wednesday, March 27th. Citigroup increased their target price on 3M from $95.31 to $98.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Finally, Royal Bank of Canada dropped their target price on 3M from $84.00 to $78.00 and set an “underperform” 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 assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $104.00.

3M Stock Up 0.5 %

NYSE:MMM traded up $0.42 during trading hours on Friday, hitting $91.83. The company’s stock had a trading volume of 4,520,901 shares, compared to its average volume of 4,283,067. The stock has a market capitalization of $50.82 billion, a P/E ratio of -7.27, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 2.69. The stock has a fifty day moving average of $95.71 and a 200-day moving average of $97.37. 3M has a 52-week low of $71.12 and a 52-week high of $95.67.

3M (NYSE:MMM) last posted its earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.11. The firm had revenue of $8.01 billion during the quarter, compared to analysts’ expectations of $7.69 billion. 3M had a positive return on equity of 62.45% and a negative net margin of 21.40%. The firm’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.28 earnings per share. On average, equities analysts forecast that 3M will post 8.19 earnings per share for the current year.

3M Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th were issued a $1.51 dividend. This is a boost from 3M’s previous quarterly dividend of $1.50. The ex-dividend date was Thursday, February 15th. This represents a $6.04 annualized dividend and a dividend yield of 6.58%. 3M’s dividend payout ratio is presently -47.82%.

3M Company 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.