Midland Wealth Advisors LLC Sells 136 Shares of 3M (NYSE:MMM)

Midland Wealth Advisors LLC trimmed its position in 3M (NYSE:MMM) by 5.9% during the first quarter, HoldingsChannel.com reports. The firm owned 2,164 shares of the conglomerate’s stock after selling 136 shares during the quarter. Midland Wealth Advisors LLC’s holdings in 3M were worth $318,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MMM. Proficio Capital Partners LLC bought a new stake in shares of 3M in the fourth quarter valued at about $26,000. REAP Financial Group LLC increased its position in shares of 3M by 88.7% in the fourth quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate’s stock valued at $26,000 after acquiring an additional 94 shares during the last quarter. Hazlett Burt & Watson Inc. acquired a new stake in shares of 3M in the fourth quarter valued at about $27,000. Pinney & Scofield Inc. acquired a new stake in shares of 3M in the fourth quarter valued at about $28,000. Finally, Curat Global LLC acquired a new stake in shares of 3M in the first quarter valued at about $29,000. 65.25% of the stock is currently owned by institutional investors.

3M Price Performance

Shares of NYSE MMM opened at $144.24 on Tuesday. The business’s 50 day moving average price is $141.11 and its two-hundred day moving average price is $141.55. The company has a market cap of $77.63 billion, a PE ratio of 19.10, a price-to-earnings-growth ratio of 3.30 and a beta of 1.03. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. 3M has a twelve month low of $98.26 and a twelve month high of $156.35.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.11. 3M had a return on equity of 100.77% and a net margin of 15.71%. The company had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.78 billion. On average, analysts predict that 3M will post 7.8 EPS for the current year.

3M Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 2.02%. 3M’s dividend payout ratio is presently 36.87%.

Insider Transactions at 3M

In related news, EVP Zoe L. Dickson sold 7,915 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $149.02, for a total value of $1,179,493.30. Following the completion of the sale, the executive vice president now directly owns 6,127 shares in the company, valued at approximately $913,045.54. The trade was a 56.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP John Patrick Banovetz sold 7,759 shares of the company’s stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $148.37, for a total value of $1,151,202.83. Following the sale, the executive vice president now owns 31,372 shares of the company’s stock, valued at $4,654,663.64. The trade was a 19.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on MMM shares. JPMorgan Chase & Co. lifted their target price on 3M from $140.00 to $167.00 and gave the company an “overweight” rating in a research report on Friday, May 16th. Citigroup lifted their target price on 3M from $141.00 to $160.00 and gave the company a “neutral” rating in a research report on Friday, May 30th. Royal Bank of Canada lifted their target price on 3M from $98.00 to $100.00 and gave the company an “underperform” rating in a research report on Wednesday, April 23rd. Bank of America lifted their target price on 3M from $175.00 to $179.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of 3M in a research report on Saturday, May 24th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $153.46.

3M 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.