Buckley Wealth Management LLC Sells 150 Shares of 3M (NYSE:MMM)

Buckley Wealth Management LLC lessened its holdings in 3M (NYSE:MMM) by 0.5% in the third quarter, Holdings Channel reports. The institutional investor owned 29,389 shares of the conglomerate’s stock after selling 150 shares during the period. 3M accounts for approximately 1.2% of Buckley Wealth Management LLC’s holdings, making the stock its 18th largest position. Buckley Wealth Management LLC’s holdings in 3M were worth $4,017,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Tributary Capital Management LLC acquired a new position in shares of 3M during the first quarter worth $25,000. Financial Synergies Wealth Advisors Inc. lifted its holdings in 3M by 419.1% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock worth $26,000 after buying an additional 197 shares during the period. MFA Wealth Advisors LLC bought a new stake in shares of 3M in the 2nd quarter valued at about $28,000. Daymark Wealth Partners LLC increased its stake in shares of 3M by 8.6% in the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock valued at $30,000 after buying an additional 17,211 shares during the period. Finally, Meeder Asset Management Inc. raised its position in shares of 3M by 689.7% during the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 269 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Stock Down 0.4 %

Shares of 3M stock traded down $0.54 during trading hours on Friday, reaching $135.14. The company’s stock had a trading volume of 2,791,646 shares, compared to its average volume of 4,893,641. The company has a market capitalization of $74.78 billion, a P/E ratio of -10.62, a P/E/G ratio of 2.49 and a beta of 0.95. The stock’s fifty day simple moving average is $132.67 and its two-hundred day simple moving average is $112.73. 3M has a one year low of $71.12 and a one year high of $140.72. 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 (NYSE:MMM) last released its quarterly earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.25. The business had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $5.85 billion. 3M had a return on equity of 112.92% and a net margin of 3.08%. During the same quarter in the previous year, the business earned $2.17 EPS. On average, research analysts forecast that 3M will post 7.24 earnings per share for the current year.

3M Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Citigroup increased their target price on shares of 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Argus raised shares of 3M from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a research note on Tuesday, July 30th. Bank of America upped their price target on shares of 3M from $120.00 to $143.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Mizuho boosted their price objective on 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Wells Fargo & Company raised their target price on 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, 3M presently has an average rating of “Hold” and a consensus price target of $130.57.

Insiders Place Their Bets

In other news, Chairman Michael F. Roman sold 5,675 shares of the stock in a transaction dated 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 in the company, valued at $21,486,484.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Theresa E. Reinseth sold 2,100 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total transaction 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Michael F. Roman sold 5,675 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total transaction of $700,635.50. Following the completion of the transaction, the chairman now owns 174,036 shares in the company, valued at approximately $21,486,484.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

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.