Financial Advisory Group maintained its stake in 3M Company (NYSE:MMM) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,846 shares of the conglomerate’s stock at the end of the 2nd quarter. Financial Advisory Group’s holdings in 3M were worth $801,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Loeb Partners Corp boosted its position in 3M by 138.9% during the first quarter. Loeb Partners Corp now owns 8,600 shares of the conglomerate’s stock valued at $1,646,000 after purchasing an additional 5,000 shares in the last quarter. Ameriprise Financial Inc. boosted its position in 3M by 0.3% during the first quarter. Ameriprise Financial Inc. now owns 3,275,913 shares of the conglomerate’s stock valued at $626,792,000 after purchasing an additional 8,239 shares in the last quarter. Personal Capital Advisors Corp boosted its position in 3M by 10.4% during the first quarter. Personal Capital Advisors Corp now owns 157,237 shares of the conglomerate’s stock valued at $29,982,000 after purchasing an additional 14,830 shares in the last quarter. Smithfield Trust Co. boosted its position in 3M by 0.7% during the first quarter. Smithfield Trust Co. now owns 17,364 shares of the conglomerate’s stock valued at $3,322,000 after purchasing an additional 122 shares in the last quarter. Finally, C.V. Starr & Co. Inc. Trust boosted its position in 3M by 20.0% during the first quarter. C.V. Starr & Co. Inc. Trust now owns 60,000 shares of the conglomerate’s stock valued at $11,480,000 after purchasing an additional 10,000 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

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In related news, insider Frank R. Jr. Little sold 2,719 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $206.03, for a total value of $560,195.57. Following the completion of the sale, the insider now directly owns 9,010 shares of the company’s stock, valued at approximately $1,856,330.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Eric D. Hammes sold 1,428 shares of the company’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $206.66, for a total value of $295,110.48. Following the completion of the sale, the vice president now directly owns 3,066 shares of the company’s stock, valued at $633,619.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,112 shares of company stock valued at $1,878,890. Insiders own 0.58% of the company’s stock.

A number of equities research analysts recently weighed in on MMM shares. Bank of America Corporation reaffirmed a “buy” rating and set a $227.00 price objective on shares of 3M in a research report on Thursday, September 14th. Morgan Stanley reaffirmed an “underweight” rating and set a $191.00 price objective (down previously from $193.00) on shares of 3M in a research report on Monday, July 10th. Jefferies Group LLC reaffirmed a “buy” rating and set a $219.00 price objective on shares of 3M in a research report on Friday, May 26th. Zacks Investment Research raised 3M from a “hold” rating to a “buy” rating and set a $223.00 price objective on the stock in a research report on Friday, May 26th. Finally, BidaskClub downgraded 3M from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 30th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. 3M presently has an average rating of “Hold” and a consensus price target of $207.35.

3M Company (NYSE MMM) opened at 210.44 on Friday. 3M Company has a 52 week low of $163.85 and a 52 week high of $214.65. The stock has a 50 day moving average price of $206.16 and a 200 day moving average price of $201.42. The stock has a market capitalization of $125.58 billion, a PE ratio of 24.00 and a beta of 1.08.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $2.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.59 by ($0.01). The business had revenue of $7.81 billion for the quarter, compared to analyst estimates of $7.86 billion. 3M had a return on equity of 47.83% and a net margin of 17.65%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.08 earnings per share. Equities analysts forecast that 3M Company will post $8.95 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Friday, August 25th were given a dividend of $1.175 per share. The ex-dividend date was Wednesday, August 23rd. This represents a $4.70 annualized dividend and a dividend yield of 2.23%. 3M’s dividend payout ratio is currently 53.59%.

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, electronics, 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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