Avidian Wealth Solutions LLC Sells 336 Shares of 3M (NYSE:MMM)

Avidian Wealth Solutions LLC trimmed its stake in shares of 3M (NYSE:MMM) by 6.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,220 shares of the conglomerate’s stock after selling 336 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in 3M were worth $571,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of MMM. Vanguard Group Inc. raised its holdings in 3M by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 49,033,679 shares of the conglomerate’s stock valued at $4,590,533,000 after acquiring an additional 317,483 shares during the period. Invesco Ltd. increased its stake in shares of 3M by 2.4% during the third quarter. Invesco Ltd. now owns 4,082,950 shares of the conglomerate’s stock worth $382,246,000 after purchasing an additional 94,864 shares during the period. Nuance Investments LLC lifted its holdings in 3M by 10.1% during the 3rd quarter. Nuance Investments LLC now owns 4,062,557 shares of the conglomerate’s stock worth $380,337,000 after purchasing an additional 371,935 shares during the last quarter. Pacer Advisors Inc. boosted its stake in 3M by 1,273.9% in the 4th quarter. Pacer Advisors Inc. now owns 3,783,726 shares of the conglomerate’s stock valued at $413,637,000 after purchasing an additional 3,508,334 shares during the period. Finally, Van ECK Associates Corp increased its position in 3M by 20.8% during the 3rd quarter. Van ECK Associates Corp now owns 2,944,135 shares of the conglomerate’s stock worth $275,630,000 after buying an additional 506,654 shares during the period. 65.25% of the stock is owned by institutional investors.

3M Trading Up 0.0 %

Shares of MMM stock traded up $0.02 on Monday, hitting $97.17. The company had a trading volume of 1,780,250 shares, compared to its average volume of 5,857,621. 3M has a twelve month low of $71.12 and a twelve month high of $99.70. The company has a debt-to-equity ratio of 4.17, a quick ratio of 1.27 and a current ratio of 1.64. The stock’s 50-day moving average is $96.14 and its two-hundred day moving average is $97.71. The firm has a market cap of $53.77 billion, a P/E ratio of -7.64, a P/E/G ratio of 1.79 and a beta of 1.00.

3M (NYSE:MMM) last announced its earnings results on Tuesday, April 30th. The conglomerate reported $2.39 EPS for the quarter, beating the consensus estimate of $2.10 by $0.29. 3M had a positive return on equity of 95.80% and a negative net margin of 21.57%. The company had revenue of $8 billion for the quarter, compared to analyst estimates of $7.64 billion. During the same quarter in the prior year, the company earned $1.97 EPS. On average, equities research analysts anticipate that 3M will post 7.23 earnings per share for the current fiscal year.

3M Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 16th were given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 6.22%. 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 -47.48%.

Insider Activity at 3M

In related news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was 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 filing with the Securities & Exchange Commission, which is accessible through this link. 0.38% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada lifted their price target on shares of 3M from $78.00 to $87.00 and gave the company an “underperform” rating in a research report on Wednesday, May 1st. Mizuho restated a “neutral” rating and set a $105.00 price objective on shares of 3M in a research report on Wednesday, March 27th. JPMorgan Chase & Co. upgraded 3M from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $110.00 to $111.00 in a research report on Wednesday, May 1st. Citigroup raised their price target on shares of 3M from $98.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Finally, Barclays dropped their price objective on shares of 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $103.70.

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.