Sentry LLC Has $1.38 Million Holdings in 3M (NYSE:MMM)

Sentry LLC lessened its stake in 3M (NYSE:MMM) by 4.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,405 shares of the conglomerate’s stock after selling 430 shares during the quarter. Sentry LLC’s holdings in 3M were worth $1,381,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. REAP Financial Group LLC raised its position in 3M by 88.7% during the fourth 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. Curat Global LLC bought a new position in shares of 3M in the first quarter valued at about $29,000. Hazlett Burt & Watson Inc. bought a new position in shares of 3M in the fourth quarter valued at about $27,000. Pinney & Scofield Inc. bought a new position in shares of 3M in the fourth quarter valued at about $28,000. Finally, Meeder Asset Management Inc. raised its position in shares of 3M by 230.1% in the fourth quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate’s stock valued at $40,000 after purchasing an additional 214 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

Insider Activity

In other news, EVP John Patrick Banovetz sold 7,759 shares of the firm’s stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a filing 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 on Thursday, May 15th. The shares were sold at an average price of $149.02, for a total value of $1,179,493.30. Following the transaction, the executive vice president now owns 6,127 shares in the company, valued at approximately $913,045.54. This represents a 56.37% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

3M Price Performance

MMM opened at $142.17 on Monday. 3M has a 1 year low of $98.26 and a 1 year high of $156.35. The stock has a 50-day moving average price of $142.25 and a 200-day moving average price of $141.90. The firm has a market cap of $76.51 billion, a PE ratio of 18.83, a P/E/G ratio of 3.30 and a beta of 1.03. 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 (NYSE:MMM) last announced its quarterly earnings data 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. The company had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.78 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. Sell-side analysts predict that 3M will post 7.8 earnings per share for the current fiscal year.

3M Dividend Announcement

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

Analysts Set New Price Targets

Several research firms recently commented on MMM. Barclays upped their price target on shares of 3M from $160.00 to $164.00 and gave the company an “overweight” rating in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. upped their price target on shares of 3M from $140.00 to $167.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. Weiss Ratings restated a “hold (c+)” rating on shares of 3M in a research note on Wednesday, June 11th. Bank of America upped their price target on shares of 3M from $175.00 to $179.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Finally, Citigroup upped their price target 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. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, 3M currently has a consensus rating of “Moderate Buy” and an average price target of $155.83.

About 3M

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.