AA Financial Advisors LLC Lowers Stock Position in 3M (NYSE:MMM)

AA Financial Advisors LLC trimmed its holdings in shares of 3M (NYSE:MMM) by 28.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,244 shares of the conglomerate’s stock after selling 1,655 shares during the quarter. AA Financial Advisors LLC’s holdings in 3M were worth $580,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. RFG Advisory LLC boosted its position in 3M by 86.9% during the first quarter. RFG Advisory LLC now owns 6,765 shares of the conglomerate’s stock valued at $718,000 after purchasing an additional 3,145 shares in the last quarter. &PARTNERS grew its position in shares of 3M by 9.8% in the 1st quarter. &PARTNERS now owns 7,202 shares of the conglomerate’s stock worth $764,000 after buying an additional 641 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in shares of 3M during the 1st quarter worth approximately $32,000. Range Financial Group LLC lifted its position in 3M by 15.9% during the first quarter. Range Financial Group LLC now owns 7,523 shares of the conglomerate’s stock valued at $798,000 after acquiring an additional 1,034 shares during the last quarter. Finally, Southland Equity Partners LLC boosted its stake in 3M by 10.1% in the first quarter. Southland Equity Partners LLC now owns 2,127 shares of the conglomerate’s stock valued at $226,000 after acquiring an additional 195 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.

Wall Street Analyst Weigh In

MMM has been the topic of a number of recent analyst reports. Bank of America upped their price target on 3M from $120.00 to $143.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Royal Bank of Canada increased their price target on 3M from $93.00 to $95.00 and gave the company an “underperform” rating in a research note on Monday, July 29th. Morgan Stanley assumed coverage on 3M in a report on Friday, September 6th. They issued an “underweight” rating and a $125.00 price target for the company. Argus upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a report on Tuesday, July 30th. Finally, Wells Fargo & Company lifted their target price on shares of 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, 3M has a consensus rating of “Hold” and an average price target of $130.57.

3M Stock Performance

NYSE MMM opened at $135.14 on Friday. The firm has a market capitalization of $74.78 billion, a P/E ratio of -10.62, a PEG ratio of 2.49 and a beta of 0.95. The stock has a 50-day simple moving average of $132.67 and a two-hundred day simple moving average of $112.73. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.08 and a current ratio of 1.36. 3M has a fifty-two week low of $71.12 and a fifty-two week high of $140.72.

3M (NYSE:MMM) last announced its quarterly earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.25. The company had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $5.85 billion. 3M had a return on equity of 112.92% and a net margin of 3.08%. During the same period last year, the business earned $2.17 earnings per share. On average, equities analysts forecast that 3M will post 7.24 earnings per share for the current year.

3M Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 26th were issued a $0.70 dividend. The ex-dividend date was Monday, August 26th. This represents a $2.80 dividend on an annualized basis and a yield of 2.07%. 3M’s payout ratio is -22.01%.

Insider Transactions at 3M

In related news, Chairman Michael F. Roman sold 5,675 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total value of $700,635.50. Following the completion of the sale, the chairman now owns 174,036 shares of the company’s stock, valued at approximately $21,486,484.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other 3M news, Chairman Michael F. Roman sold 5,675 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total transaction of $700,635.50. Following the completion of the sale, the chairman now directly owns 174,036 shares in the company, valued at approximately $21,486,484.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Theresa E. Reinseth sold 2,100 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total value of $260,652.00. Following the completion of the transaction, the chief financial officer now owns 4,364 shares in the company, valued at approximately $541,659.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

3M 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.