First United Bank Trust Lowers Position in 3M Company (MMM)

First United Bank Trust lowered its stake in 3M Company (NYSE:MMM) by 1.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,465 shares of the conglomerate’s stock after selling 25 shares during the period. First United Bank Trust’s holdings in 3M were worth $305,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Proficio Capital Partners LLC lifted its position in 3M by 156.0% in the 1st quarter. Proficio Capital Partners LLC now owns 663 shares of the conglomerate’s stock valued at $131,000 after acquiring an additional 404 shares in the last quarter. Jackson Grant Investment Advisers Inc. lifted its position in 3M by 0.6% in the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 718 shares of the conglomerate’s stock valued at $137,000 after acquiring an additional 4 shares in the last quarter. One Capital Management LLC bought a new stake in 3M in the 1st quarter valued at $202,000. FDO Partners LLC bought a new stake in 3M in the 1st quarter valued at $203,000. Finally, SRS Capital Advisors Inc. lifted its position in 3M by 42.3% in the 1st quarter. SRS Capital Advisors Inc. now owns 1,069 shares of the conglomerate’s stock valued at $204,000 after acquiring an additional 318 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Shares of 3M Company (NYSE:MMM) traded down 1.75% during trading on Wednesday, reaching $209.82. 1,169,665 shares of the company traded hands. The stock has a market capitalization of $125.21 billion, a PE ratio of 23.93 and a beta of 1.08. 3M Company has a 12-month low of $163.85 and a 12-month high of $214.65. The firm’s 50-day moving average is $206.16 and its 200-day moving average is $201.42.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $2.58 EPS for the quarter, missing the Zacks’ consensus estimate of $2.59 by ($0.01). 3M had a return on equity of 47.83% and a net margin of 17.65%. The company had revenue of $7.81 billion during the quarter, compared to analysts’ expectations of $7.86 billion. During the same period in the prior year, the firm earned $2.08 EPS. 3M’s quarterly revenue was up 1.9% on a year-over-year basis. On average, equities analysts predict that 3M Company will post $8.94 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Friday, August 25th were issued a $1.175 dividend. The ex-dividend date was Wednesday, August 23rd. This represents a $4.70 dividend on an annualized basis and a dividend yield of 2.20%. 3M’s payout ratio is 53.59%.

Several brokerages have commented on MMM. Jefferies Group LLC reissued a “buy” rating and set a $234.00 price target on shares of 3M in a research report on Wednesday, August 16th. Zacks Investment Research cut shares of 3M from a “buy” rating to a “hold” rating in a research report on Thursday, June 15th. Stifel Nicolaus reissued a “hold” rating and set a $210.00 price target on shares of 3M in a research report on Friday, July 28th. Bank of America Corporation reissued a “buy” rating and set a $227.00 price target on shares of 3M in a research report on Thursday, September 14th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $209.00 price target on shares of 3M in a research report on Friday, September 15th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $207.35.

In other news, VP Eric D. Hammes sold 1,428 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $206.66, for a total value of $295,110.48. Following the completion of the sale, the vice president now directly owns 3,066 shares in the company, valued at approximately $633,619.56. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul A. Keel sold 4,965 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $206.16, for a total transaction of $1,023,584.40. Following the completion of the sale, the insider now owns 5,503 shares of the company’s stock, valued at $1,134,498.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,112 shares of company stock valued at $1,878,890. Company insiders own 0.58% of the company’s stock.

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3M Profile

3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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