Intellectus Partners LLC Sells 259 Shares of 3M (NYSE:MMM)

Intellectus Partners LLC cut its holdings in shares of 3M (NYSE:MMM) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,675 shares of the conglomerate’s stock after selling 259 shares during the period. Intellectus Partners LLC’s holdings in 3M were worth $1,167,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in MMM. Briaud Financial Planning Inc purchased a new position in 3M in the third quarter valued at about $35,000. Authentikos Wealth Advisory LLC purchased a new stake in shares of 3M during the 3rd quarter valued at approximately $37,000. CGC Financial Services LLC increased its holdings in shares of 3M by 89.9% in the fourth quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock worth $37,000 after purchasing an additional 160 shares during the period. VisionPoint Advisory Group LLC increased its holdings in shares of 3M by 91.9% in the third quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate’s stock worth $42,000 after purchasing an additional 215 shares during the period. Finally, Psagot Value Holdings Ltd. Israel bought a new position in shares of 3M in the third quarter worth $44,000. 65.25% of the stock is owned by institutional investors.

3M Stock Performance

MMM stock traded up $0.42 on Friday, hitting $91.83. The company had a trading volume of 4,520,901 shares, compared to its average volume of 4,283,067. The stock’s 50-day simple moving average is $95.71 and its 200 day simple moving average is $97.41. The stock has a market cap of $50.82 billion, a price-to-earnings ratio of -7.27, a P/E/G ratio of 1.74 and a beta of 1.02. 3M has a 12-month low of $71.12 and a 12-month high of $95.67. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th were given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 6.58%. This is an increase from 3M’s previous quarterly dividend of $1.50. The ex-dividend date was Thursday, February 15th. 3M’s dividend payout ratio (DPR) is presently -47.82%.

Wall Street Analyst Weigh In

MMM has been the topic of several research analyst reports. Royal Bank of Canada decreased their price target 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. Wells Fargo & Company cut their target price on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 24th. JPMorgan Chase & Co. cut their target price on shares of 3M from $118.00 to $110.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Bank of America cut their target price on shares of 3M from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Tuesday, April 2nd. Finally, StockNews.com upgraded shares of 3M from a “buy” rating to a “strong-buy” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $104.00.

Insider Activity

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total transaction of $39,328.32. Following the sale, the insider now directly owns 3,966 shares in the company, valued at approximately $366,141.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.34% of the company’s stock.

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.