Davidson Investment Advisors cut its stake in shares of 3M Co (NYSE:MMM) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,592 shares of the conglomerate’s stock after selling 726 shares during the period. Davidson Investment Advisors’ holdings in 3M were worth $7,163,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MMM. Capital Insight Partners LLC increased its position in shares of 3M by 0.6% in the fourth quarter. Capital Insight Partners LLC now owns 8,852 shares of the conglomerate’s stock worth $1,687,000 after purchasing an additional 56 shares during the last quarter. Sawyer & Company Inc increased its position in shares of 3M by 1.6% in the fourth quarter. Sawyer & Company Inc now owns 3,790 shares of the conglomerate’s stock worth $722,000 after purchasing an additional 60 shares during the last quarter. Atlas Brown Inc. increased its position in shares of 3M by 0.9% in the fourth quarter. Atlas Brown Inc. now owns 6,928 shares of the conglomerate’s stock worth $1,320,000 after purchasing an additional 60 shares during the last quarter. Calamos Wealth Management LLC increased its position in shares of 3M by 0.5% in the fourth quarter. Calamos Wealth Management LLC now owns 12,645 shares of the conglomerate’s stock worth $2,409,000 after purchasing an additional 62 shares during the last quarter. Finally, SignalPoint Asset Management LLC increased its position in shares of 3M by 1.9% in the fourth quarter. SignalPoint Asset Management LLC now owns 3,324 shares of the conglomerate’s stock worth $633,000 after purchasing an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 70.67% of the company’s stock.

Several research analysts recently weighed in on MMM shares. Zacks Investment Research cut shares of 3M from a “hold” rating to a “sell” rating in a research report on Thursday, December 13th. Barclays decreased their price objective on shares of 3M from $190.00 to $189.00 and set an “underweight” rating on the stock in a research report on Thursday, January 3rd. Deutsche Bank upped their price objective on shares of 3M from $206.00 to $210.00 and gave the stock a “hold” rating in a research report on Friday, November 16th. Credit Suisse Group cut their target price on 3M from $228.00 to $222.00 and set an “outperform” rating for the company in a research note on Wednesday, October 24th. Finally, Royal Bank of Canada cut their target price on 3M to $223.00 and set an “outperform” rating for the company in a research note on Wednesday, October 24th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $214.57.

In other news, insider James L. Bauman sold 16,065 shares of the stock in a transaction that occurred on Monday, February 11th. The stock was sold at an average price of $200.24, for a total transaction of $3,216,855.60. Following the completion of the sale, the insider now owns 40,468 shares of the company’s stock, valued at $8,103,312.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Inge G. Thulin sold 13,499 shares of the stock in a transaction that occurred on Wednesday, January 30th. The shares were sold at an average price of $200.00, for a total value of $2,699,800.00. Following the sale, the chairman now directly owns 230,458 shares of the company’s stock, valued at approximately $46,091,600. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,654 shares of company stock valued at $13,320,320. Insiders own 0.72% of the company’s stock.

Shares of MMM opened at $209.72 on Thursday. The company has a market capitalization of $115.06 billion, a price-to-earnings ratio of 20.05, a PEG ratio of 1.84 and a beta of 1.06. The company has a quick ratio of 1.29, a current ratio of 1.89 and a debt-to-equity ratio of 1.36. 3M Co has a 1 year low of $176.87 and a 1 year high of $244.86.

3M (NYSE:MMM) last issued its earnings results on Tuesday, January 29th. The conglomerate reported $2.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.28 by $0.03. The business had revenue of $7.95 billion during the quarter, compared to analyst estimates of $7.87 billion. 3M had a return on equity of 57.70% and a net margin of 16.33%. 3M’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.10 earnings per share. Sell-side analysts anticipate that 3M Co will post 10.67 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 12th. Stockholders of record on Friday, February 15th will be paid a dividend of $1.44 per share. This represents a $5.76 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Thursday, February 14th. This is a positive change from 3M’s previous quarterly dividend of $1.36. 3M’s dividend payout ratio is 52.01%.

3M announced that its board has authorized a share repurchase plan on Tuesday, November 13th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the conglomerate to reacquire up to 8.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

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About 3M

3M Company operates as a diversified technology company worldwide. The company's Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; purification products; closure systems for personal hygiene products; acoustic systems products; automotive components; and abrasion-resistant films, and paint finishing and detailing products.

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

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