3M (NYSE:MMM) Shares Sold by Two West Capital Advisors LLC

Two West Capital Advisors LLC reduced its position in shares of 3M (NYSE:MMM) by 14.7% during the first quarter, HoldingsChannel reports. The firm owned 1,732 shares of the conglomerate’s stock after selling 299 shares during the quarter. Two West Capital Advisors LLC’s holdings in 3M were worth $235,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in MMM. Proficio Capital Partners LLC acquired a new stake in 3M in the fourth quarter valued at $26,000. REAP Financial Group LLC raised its holdings in 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 in the last quarter. Hazlett Burt & Watson Inc. acquired a new stake in shares of 3M during the fourth quarter worth $27,000. Pinney & Scofield Inc. acquired a new stake in shares of 3M during the fourth quarter worth $28,000. Finally, Curat Global LLC acquired a new stake in shares of 3M during the first quarter worth $29,000. 65.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP John Patrick Banovetz sold 7,759 shares of the firm’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $148.37, for a total transaction of $1,151,202.83. Following the completion of the transaction, the executive vice president now owns 31,372 shares in the company, valued at approximately $4,654,663.64. This trade represents a 19.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Zoe L. Dickson sold 7,915 shares of the firm’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $149.02, for a total transaction of $1,179,493.30. Following the transaction, the executive vice president now owns 6,127 shares of the company’s stock, valued at approximately $913,045.54. This trade represents a 56.37% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

3M Stock Performance

Shares of MMM opened at $147.18 on Thursday. The firm has a 50-day moving average price of $141.63 and a 200 day moving average price of $141.61. The firm has a market capitalization of $79.21 billion, a PE ratio of 19.49, a P/E/G 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 52-week low of $98.26 and a 52-week high of $156.35.

3M (NYSE:MMM) last announced its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.11. 3M had a net margin of 15.71% and a return on equity of 100.77%. The firm had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.78 billion. On average, sell-side analysts anticipate that 3M will post 7.8 earnings per share for the current fiscal year.

3M Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 1.98%. 3M’s dividend payout ratio (DPR) is 36.87%.

Analyst Ratings Changes

A number of brokerages have weighed in on MMM. Royal Bank of Canada increased their target price on shares of 3M from $98.00 to $100.00 and gave the stock an “underperform” rating in a report on Wednesday, April 23rd. Bank of America increased their target price on shares of 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Barclays increased their price objective on shares of 3M from $160.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, April 23rd. Citigroup boosted their target price on shares of 3M from $141.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, May 30th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of 3M in a research note on Wednesday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, 3M currently has a consensus rating of “Moderate Buy” and an average target price of $153.46.

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.