Cambridge Advisors Inc. Sells 390 Shares of 3M (NYSE:MMM)

Cambridge Advisors Inc. cut its holdings in 3M (NYSE:MMM) by 19.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,611 shares of the conglomerate’s stock after selling 390 shares during the period. Cambridge Advisors Inc.’s holdings in 3M were worth $220,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Tributary Capital Management LLC bought a new position in 3M during the 1st quarter valued at about $25,000. MFA Wealth Advisors LLC purchased a new stake in 3M in the 2nd quarter valued at about $28,000. Daymark Wealth Partners LLC lifted its position in shares of 3M by 8.6% in the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 17,211 shares during the period. McClarren Financial Advisors Inc. lifted its position in shares of 3M by 118.6% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 121 shares during the period. Finally, Meeder Asset Management Inc. lifted its position in 3M by 689.7% during the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 269 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling at 3M

In related news, CFO Theresa E. Reinseth sold 2,100 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total value of $260,652.00. Following the completion of the sale, the chief financial officer now owns 4,364 shares of the company’s stock, valued at approximately $541,659.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Theresa E. Reinseth sold 2,100 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total value of $260,652.00. Following the completion of the transaction, the chief financial officer now directly owns 4,364 shares in the company, valued at approximately $541,659.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Michael F. Roman sold 5,675 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total value of $700,635.50. Following the transaction, the chairman now owns 174,036 shares of the company’s stock, valued at $21,486,484.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

3M Price Performance

MMM opened at $126.44 on Friday. 3M has a 1 year low of $72.47 and a 1 year high of $141.34. The company’s 50 day simple moving average is $133.07 and its 200 day simple moving average is $113.57. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.08 and a current ratio of 1.36. The stock has a market capitalization of $69.97 billion, a PE ratio of -9.94, a P/E/G ratio of 2.49 and a beta of 0.95.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.05. 3M had a net margin of 3.08% and a return on equity of 112.92%. The firm had revenue of $6.29 billion during the quarter, compared to the consensus estimate of $6.06 billion. During the same quarter in the previous year, the company posted $2.68 earnings per share. The firm’s revenue was down 24.3% on a year-over-year basis. As a group, sell-side analysts expect that 3M will post 7.24 EPS for the current year.

3M Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 26th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.80 annualized dividend and a yield of 2.21%. 3M’s payout ratio is presently -22.01%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MMM. Wells Fargo & Company upped their price target on shares of 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Bank of America increased their price objective on shares of 3M from $143.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday. Argus upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a research report on Tuesday, July 30th. Citigroup lifted their price target on shares of 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Finally, Melius upgraded shares of 3M from a “hold” rating to a “buy” rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $135.67.

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.