Dynamic Advisor Solutions LLC Sells 2,500 Shares of 3M (NYSE:MMM)

Dynamic Advisor Solutions LLC decreased its stake in shares of 3M (NYSE:MMMGet Rating) by 19.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 10,272 shares of the conglomerate’s stock after selling 2,500 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in 3M were worth $1,529,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of MMM. DB Fitzpatrick & Co Inc bought a new position in shares of 3M during the 4th quarter worth about $29,000. Ritter Daniher Financial Advisory LLC boosted its position in shares of 3M by 98.9% during the 4th quarter. Ritter Daniher Financial Advisory LLC now owns 179 shares of the conglomerate’s stock valued at $32,000 after acquiring an additional 89 shares in the last quarter. US Asset Management LLC acquired a new stake in shares of 3M during the 1st quarter valued at about $34,000. Atticus Wealth Management LLC acquired a new position in 3M in the fourth quarter valued at about $36,000. Finally, Dark Forest Capital Management LP acquired a new position in 3M in the third quarter valued at about $41,000. Institutional investors own 67.22% of the company’s stock.

A number of brokerages have recently issued reports on MMM. UBS Group reduced their target price on shares of 3M from $168.00 to $118.00 and set a “sell” rating on the stock in a research report on Friday, March 11th. StockNews.com initiated coverage on shares of 3M in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Royal Bank of Canada lifted their price target on shares of 3M from $136.00 to $138.00 and gave the stock an “underperform” rating in a research report on Wednesday, April 27th. Credit Suisse Group reduced their price target on shares of 3M from $173.00 to $161.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 27th. Finally, Citigroup reduced their target price on shares of 3M from $157.00 to $151.00 in a research note on Wednesday, April 27th. Five analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $164.00.

In other 3M news, insider Mojdeh Poul sold 1,634 shares of the firm’s stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $151.68, for a total value of $247,845.12. Following the sale, the insider now owns 7,637 shares in the company, valued at $1,158,380.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael F. Roman sold 10,610 shares of the firm’s stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $146.21, for a total transaction of $1,551,288.10. Following the completion of the sale, the chief executive officer now owns 90,361 shares in the company, valued at approximately $13,211,681.81. The disclosure for this sale can be found here. Company insiders own 0.39% of the company’s stock.

NYSE MMM opened at $130.40 on Thursday. The company has a current ratio of 1.58, a quick ratio of 1.00 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $74.21 billion, a price-to-earnings ratio of 13.57, a P/E/G ratio of 1.26 and a beta of 0.92. The firm’s 50 day simple moving average is $145.13 and its 200 day simple moving average is $155.93. 3M has a 1 year low of $128.19 and a 1 year high of $203.21.

3M (NYSE:MMMGet Rating) last posted its quarterly earnings results on Tuesday, April 26th. The conglomerate reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.32. The business had revenue of $8.80 billion for the quarter, compared to analyst estimates of $8.75 billion. 3M had a net margin of 15.84% and a return on equity of 39.35%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the business posted $2.77 EPS. On average, equities research analysts forecast that 3M will post 10.84 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Sunday, June 12th. Investors of record on Friday, May 20th were given a dividend of $1.49 per share. The ex-dividend date was Thursday, May 19th. This represents a $5.96 annualized dividend and a dividend yield of 4.57%. 3M’s dividend payout ratio is 62.02%.

About 3M (Get Rating)

3M Company operates as a diversified technology company worldwide. It operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The 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.

Further Reading

Want to see what other hedge funds are holding MMM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for 3M (NYSE:MMMGet Rating).

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

Want More Great Investing Ideas?

Receive News & Ratings for 3M Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 3M and related companies with MarketBeat.com's FREE daily email newsletter.