Sapient Capital LLC Sells 372 Shares of 3M (NYSE:MMM)

Sapient Capital LLC lessened its holdings in 3M (NYSE:MMM) by 4.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,735 shares of the conglomerate’s stock after selling 372 shares during the quarter. Sapient Capital LLC’s holdings in 3M were worth $820,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Tributary Capital Management LLC bought a new position in 3M during the 1st quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. boosted its stake in 3M by 419.1% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock worth $26,000 after acquiring an additional 197 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in 3M during the 1st quarter worth approximately $32,000. Livelsberger Financial Advisory bought a new position in 3M during the 4th quarter worth approximately $35,000. Finally, CGC Financial Services LLC boosted its stake in 3M by 89.9% during the 4th 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. Institutional investors own 65.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MMM. Bank of America reduced their price objective on shares of 3M from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 2nd. Mizuho reissued a “neutral” rating and set a $105.00 price objective on shares of 3M in a research note on Wednesday, March 27th. Royal Bank of Canada dropped their target price on shares of 3M from $84.00 to $78.00 and set an “underperform” rating on the stock in a report on Tuesday, April 2nd. StockNews.com upgraded shares of 3M from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 25th. Finally, Wells Fargo & Company dropped their target price on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, 3M presently has a consensus rating of “Hold” and an average price target of $104.00.

Insider Activity

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of 3M stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total value of $39,328.32. Following the sale, the insider now directly owns 3,966 shares in the company, valued at $366,141.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is owned by corporate insiders.

3M Stock Up 4.7 %

Shares of NYSE MMM traded up $4.35 during midday trading on Tuesday, reaching $96.51. The company’s stock had a trading volume of 16,669,664 shares, compared to its average volume of 5,851,908. 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 has a fifty-two week low of $71.12 and a fifty-two week high of $97.84. The stock has a market capitalization of $53.40 billion, a price-to-earnings ratio of -7.64, a PEG ratio of 1.74 and a beta of 1.02. The stock has a 50 day simple moving average of $95.82 and a 200-day simple moving average of $97.54.

3M Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th were issued a $1.51 dividend. The ex-dividend date was Thursday, February 15th. This is an increase from 3M’s previous quarterly dividend of $1.50. This represents a $6.04 dividend on an annualized basis and a dividend yield of 6.26%. 3M’s dividend payout ratio (DPR) is -47.82%.

About 3M

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.