American Investment Services Inc. Sells 15,052 Shares of 3M (NYSE:MMM)

American Investment Services Inc. trimmed its stake in 3M (NYSE:MMM) by 24.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 47,311 shares of the conglomerate’s stock after selling 15,052 shares during the period. 3M accounts for about 1.1% of American Investment Services Inc.’s investment portfolio, making the stock its 25th largest position. American Investment Services Inc.’s holdings in 3M were worth $6,107,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new position in shares of 3M in the 4th quarter worth approximately $25,000. Proficio Capital Partners LLC acquired a new position in shares of 3M in the 4th quarter worth approximately $26,000. REAP Financial Group LLC boosted its holdings in shares of 3M by 88.7% in the 4th quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate’s stock worth $26,000 after acquiring an additional 94 shares in the last quarter. Hazlett Burt & Watson Inc. acquired a new position in shares of 3M in the 4th quarter worth approximately $27,000. Finally, Pinney & Scofield Inc. acquired a new position in 3M during the 4th quarter worth $28,000. 65.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Zoe L. Dickson sold 7,915 shares of 3M stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $149.02, for a total transaction of $1,179,493.30. Following the completion of the transaction, the executive vice president now owns 6,127 shares in the company, valued at approximately $913,045.54. This trade represents a 56.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

3M Price Performance

Shares of NYSE MMM opened at $147.78 on Tuesday. The stock has a market capitalization of $79.53 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 3.30 and a beta of 1.02. The business has a 50-day moving average of $141.58 and a 200-day moving average of $140.33. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. 3M has a fifty-two week low of $96.76 and a fifty-two week high of $156.35.

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

3M Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors 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 yield of 1.98%. 3M’s payout ratio is currently 36.87%.

Analysts Set New Price Targets

Several research firms have issued reports on MMM. Royal Bank of Canada upped their price objective on 3M from $98.00 to $100.00 and gave the stock an “underperform” rating in a report on Wednesday, April 23rd. Weiss Ratings reissued a “hold (c+)” rating on shares of 3M in a research note on Saturday. Citigroup lowered their price objective on shares of 3M from $152.00 to $142.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Bank of America upped their price objective on shares of 3M from $175.00 to $179.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Finally, Barclays upped their price objective on shares of 3M from $160.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $152.08.

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.