3M (NYSE:MMM) Shares Sold by N.E.W. Advisory Services LLC

N.E.W. Advisory Services LLC cut its holdings in 3M (NYSE:MMM) by 4.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,777 shares of the conglomerate’s stock after selling 123 shares during the quarter. N.E.W. Advisory Services LLC’s holdings in 3M were worth $304,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of MMM. Briaud Financial Planning Inc acquired a new stake in shares of 3M during the third quarter worth $35,000. Authentikos Wealth Advisory LLC purchased a new stake in 3M during the third quarter valued at about $37,000. CGC Financial Services LLC boosted its holdings in shares of 3M by 89.9% in the fourth quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock worth $37,000 after buying an additional 160 shares during the period. VisionPoint Advisory Group LLC increased its position in shares of 3M by 91.9% in the third quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate’s stock worth $42,000 after acquiring an additional 215 shares in the last quarter. Finally, Psagot Value Holdings Ltd. Israel acquired a new stake in shares of 3M during the third quarter valued at approximately $44,000. 65.25% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total value of $39,328.32. Following the transaction, the insider now directly owns 3,966 shares of the company’s stock, valued at approximately $366,141.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.38% of the company’s stock.

3M Stock Down 1.1 %

MMM traded down $1.04 during midday trading on Tuesday, hitting $95.55. 4,408,683 shares of the company’s stock traded hands, compared to its average volume of 5,865,751. The company has a debt-to-equity ratio of 4.17, a current ratio of 1.64 and a quick ratio of 1.27. The company has a market cap of $52.87 billion, a PE ratio of -7.51, a price-to-earnings-growth ratio of 1.79 and a beta of 1.00. The stock’s fifty day simple moving average is $96.30 and its 200-day simple moving average is $97.84. 3M has a one year low of $71.12 and a one year high of $99.70.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.29. The business had revenue of $8 billion for the quarter, compared to the consensus estimate of $7.64 billion. 3M had a negative net margin of 21.57% and a positive return on equity of 95.80%. During the same quarter last year, the firm earned $1.97 EPS. As a group, equities analysts anticipate that 3M will post 7.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on MMM shares. StockNews.com upgraded shares of 3M from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. Citigroup upped their price target on 3M from $98.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Barclays decreased their price objective on 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a research report on Tuesday, April 2nd. Bank of America dropped their target price on 3M from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Tuesday, April 2nd. Finally, Royal Bank of Canada raised their price target on shares of 3M from $78.00 to $87.00 and gave the stock an “underperform” rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $103.70.

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.