3M (NYSE:MMM) Stock Position Decreased by Acropolis Investment Management LLC

Acropolis Investment Management LLC lessened its holdings in shares of 3M (NYSE:MMM) by 14.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,881 shares of the conglomerate’s stock after selling 1,011 shares during the period. Acropolis Investment Management LLC’s holdings in 3M were worth $864,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. REAP Financial Group LLC grew its position in shares of 3M by 88.7% during the 4th quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate’s stock valued at $26,000 after buying an additional 94 shares during the last quarter. Curat Global LLC bought a new stake in shares of 3M during the 1st quarter valued at about $29,000. Hazlett Burt & Watson Inc. bought a new stake in shares of 3M during the 4th quarter valued at about $27,000. Pinney & Scofield Inc. bought a new stake in shares of 3M during the 4th quarter valued at about $28,000. Finally, Meeder Asset Management Inc. grew its position in 3M by 230.1% in the 4th quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate’s stock worth $40,000 after purchasing an additional 214 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

3M Trading Down 1.8%

3M stock opened at $142.17 on Monday. The firm has a 50 day simple moving average of $142.25 and a 200-day simple moving average of $141.90. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The stock has a market capitalization of $76.51 billion, a PE ratio of 18.83, a price-to-earnings-growth ratio of 3.30 and a beta of 1.03. 3M has a 12-month low of $98.26 and a 12-month high of $156.35.

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

3M Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 2.05%. 3M’s payout ratio is 36.87%.

Analysts Set New Price Targets

Several research firms have commented on MMM. Weiss Ratings restated a “hold (c+)” rating on shares of 3M in a research report on Wednesday, June 11th. Citigroup upped their target price on shares of 3M from $141.00 to $160.00 and gave the stock a “neutral” rating in a research report on Friday, May 30th. Bank of America upped their target price on shares of 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Barclays upped their target price on shares of 3M from $160.00 to $164.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 23rd. Finally, Royal Bank of Canada upped their target price on shares of 3M from $98.00 to $100.00 and gave the stock an “underperform” rating in a research report on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $155.83.

Insider Buying and Selling

In related news, EVP Zoe L. Dickson sold 7,915 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John Patrick Banovetz sold 7,759 shares of the firm’s stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $148.37, for a total transaction of $1,151,202.83. Following the sale, the executive vice president now owns 31,372 shares of the company’s stock, valued at $4,654,663.64. The trade was a 19.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.

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.