Calamos Advisors LLC Has $21.73 Million Stake in 3M Company (NYSE:MMM)

Calamos Advisors LLC trimmed its holdings in shares of 3M Company (NYSE:MMM) by 8.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 147,985 shares of the conglomerate’s stock after selling 13,170 shares during the period. Calamos Advisors LLC’s holdings in 3M were worth $21,733,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of MMM. Proficio Capital Partners LLC acquired a new position in shares of 3M in the 4th quarter valued at $26,000. REAP Financial Group LLC grew its stake in shares of 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 purchasing an additional 94 shares during the period. Hazlett Burt & Watson Inc. bought a new stake in 3M in the fourth quarter valued at about $27,000. Pinney & Scofield Inc. acquired a new position in 3M in the fourth quarter valued at about $28,000. Finally, Curat Global LLC bought a new position in 3M during the first quarter worth about $29,000. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at 3M

In other news, EVP Zoe L. Dickson sold 7,915 shares of the 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 completion of the transaction, the executive vice president directly owned 6,127 shares in the company, valued at $913,045.54. This represents a 56.37% decrease in their position. The transaction 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 3M stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $148.37, for a total value of $1,151,202.83. Following the completion of the sale, the executive vice president directly owned 31,372 shares in the company, valued at approximately $4,654,663.64. This represents a 19.83% decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

3M Stock Performance

Shares of 3M stock opened at $152.23 on Friday. The company has a debt-to-equity ratio of 2.72, a current ratio of 1.66 and a quick ratio of 1.25. The firm has a market cap of $81.92 billion, a price-to-earnings ratio of 19.22, a price-to-earnings-growth ratio of 3.01 and a beta of 1.02. The stock’s 50-day moving average is $146.33 and its 200-day moving average is $143.41. 3M Company has a one year low of $98.26 and a one year high of $156.35.

3M (NYSE:MMM) last released its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 EPS for the quarter, beating the consensus estimate of $1.77 by $0.11. 3M had a return on equity of 96.19% and a net margin of 17.79%. The firm had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.78 billion. Equities analysts predict that 3M Company will post 7.8 earnings per share for the current fiscal year.

3M Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were given a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 1.92%. 3M’s dividend payout ratio (DPR) is currently 36.87%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Citigroup upped their price target on 3M from $141.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, May 30th. Barclays upped their target price 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. Bank of America lifted their price target 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. Royal Bank Of Canada boosted their price target on shares of 3M from $98.00 to $100.00 and gave the company an “underperform” rating in a report on Wednesday, April 23rd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of 3M in a research note on Friday, June 27th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $155.83.

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.