Marino Stram & Associates LLC Sells 625 Shares of 3M (NYSE:MMM)

Marino Stram & Associates LLC reduced its stake in shares of 3M (NYSE:MMM) by 20.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,486 shares of the conglomerate’s stock after selling 625 shares during the quarter. Marino Stram & Associates LLC’s holdings in 3M were worth $272,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of MMM. United Asset Strategies Inc. boosted its holdings in shares of 3M by 4.1% during the fourth quarter. United Asset Strategies Inc. now owns 5,973 shares of the conglomerate’s stock worth $653,000 after purchasing an additional 235 shares during the period. Imprint Wealth LLC increased its stake in shares of 3M by 31.0% during the fourth quarter. Imprint Wealth LLC now owns 6,739 shares of the conglomerate’s stock valued at $722,000 after purchasing an additional 1,593 shares in the last quarter. LifePlan Financial LLC bought a new position in shares of 3M during the fourth quarter valued at approximately $588,000. Bison Wealth LLC increased its position in shares of 3M by 12.5% during the fourth quarter. Bison Wealth LLC now owns 3,603 shares of the conglomerate’s stock valued at $394,000 after acquiring an additional 400 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in shares of 3M by 31.4% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 3,461 shares of the conglomerate’s stock valued at $378,000 after acquiring an additional 828 shares in the last quarter. 65.25% of the stock is owned by institutional investors.

3M Stock Down 0.5 %

Shares of MMM stock traded down $0.47 during trading on Tuesday, reaching $90.83. The company’s stock had a trading volume of 1,509,623 shares, compared to its average volume of 5,949,054. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.07 and a quick ratio of 0.76. The company has a market capitalization of $50.26 billion, a price-to-earnings ratio of -7.15, a P/E/G ratio of 1.61 and a beta of 1.02. The stock’s 50-day moving average price is $95.92 and its 200 day moving average price is $97.32. 3M has a 1-year low of $71.12 and a 1-year high of $95.67.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.11. The company had revenue of $8.01 billion during the quarter, compared to the consensus estimate of $7.69 billion. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.28 earnings per share. On average, research analysts anticipate that 3M will post 8.79 EPS for the current year.

3M Increases Dividend

The business 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 6.65%. The ex-dividend date of this dividend was Thursday, February 15th. This is an increase from 3M’s previous quarterly dividend of $1.50. 3M’s payout ratio is currently -47.82%.

Insider Transactions at 3M

In related news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 3,966 shares in the company, valued at approximately $366,141.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on MMM. StockNews.com began coverage on shares of 3M in a research report on Thursday, April 4th. They issued a “buy” rating for the company. Wells Fargo & Company dropped their price target on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 24th. Mizuho reiterated a “neutral” rating and set a $105.00 price target on shares of 3M in a research note on Wednesday, March 27th. Bank of America lowered their target price 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. Finally, Barclays lowered their target price on shares of 3M from $126.00 to $107.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, 3M currently has a consensus rating of “Hold” and a consensus price target of $103.50.

3M Company 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.