Apeiron RIA LLC Decreases Holdings in 3M Company $MMM

Apeiron RIA LLC trimmed its holdings in shares of 3M Company (NYSE:MMM) by 6.3% in the first quarter, Holdings Channel reports. The institutional investor owned 1,608 shares of the conglomerate’s stock after selling 109 shares during the period. Apeiron RIA LLC’s holdings in 3M were worth $236,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Financial Gravity Asset Management Inc. purchased a new stake in 3M during the 1st quarter worth about $2,506,000. Synergy Asset Management LLC lifted its holdings in 3M by 122.7% during the 1st quarter. Synergy Asset Management LLC now owns 4,512 shares of the conglomerate’s stock worth $663,000 after buying an additional 2,486 shares during the last quarter. Northstar Group Inc. acquired a new stake in shares of 3M during the first quarter worth about $262,000. Dynamic Advisor Solutions LLC acquired a new stake in shares of 3M during the first quarter worth about $786,000. Finally, Retirement Systems of Alabama increased its position in shares of 3M by 210.6% during the first quarter. Retirement Systems of Alabama now owns 366,236 shares of the conglomerate’s stock worth $53,785,000 after purchasing an additional 248,333 shares in the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other 3M news, insider Christian T. Goralski, Jr. sold 6,165 shares of 3M stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $150.18, for a total value of $925,859.70. Following the sale, the insider owned 2,900 shares of the company’s stock, valued at approximately $435,522. The trade was a 68.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Theresa E. Reinseth sold 3,477 shares of 3M stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $150.63, for a total value of $523,740.51. Following the completion of the sale, the chief accounting officer directly owned 2,561 shares in the company, valued at $385,763.43. This represents a 57.59% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MMM. Wells Fargo & Company reiterated an “overweight” rating on shares of 3M in a research report on Friday, July 18th. Barclays set a $170.00 target price on 3M in a research report on Friday, July 18th. Citigroup lifted their target price on 3M from $141.00 to $160.00 and gave the stock a “neutral” rating in a research report on Friday, May 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of 3M in a research report on Saturday, August 30th. Finally, JPMorgan Chase & Co. set a $167.00 target price on 3M in a research report on Friday, July 18th. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $161.78.

3M Stock Performance

Shares of MMM stock opened at $159.24 on Friday. The stock has a market capitalization of $84.82 billion, a PE ratio of 22.15, a price-to-earnings-growth ratio of 2.79 and a beta of 1.04. 3M Company has a 52-week low of $121.98 and a 52-week high of $164.15. The stock’s 50-day moving average price is $153.94 and its 200 day moving average price is $147.89. The company has a quick ratio of 1.20, a current ratio of 1.72 and a debt-to-equity ratio of 2.87.

3M (NYSE:MMM) last issued its quarterly earnings results on Friday, July 18th. The conglomerate reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.15. The firm had revenue of $6.16 billion for the quarter, compared to analysts’ expectations of $6.09 billion. 3M had a return on equity of 96.48% and a net margin of 16.01%.The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.93 EPS. As a group, equities research analysts forecast that 3M Company will post 7.8 EPS for the current year.

3M Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Monday, August 25th will be given a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 1.8%. The ex-dividend date is Monday, August 25th. 3M’s payout ratio is 40.61%.

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.