Rehmann Capital Advisory Group Sells 914 Shares of 3M (NYSE:MMM)

Rehmann Capital Advisory Group trimmed its holdings in shares of 3M (NYSE:MMM) by 16.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 4,729 shares of the conglomerate’s stock after selling 914 shares during the period. Rehmann Capital Advisory Group’s holdings in 3M were worth $497,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Financial Freedom LLC bought a new position in 3M during the 4th quarter valued at about $25,000. Financial Management Professionals Inc. lifted its holdings in 3M by 1,538.9% during the 1st quarter. Financial Management Professionals Inc. now owns 295 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 277 shares during the last quarter. Aspire Private Capital LLC bought a new position in 3M during the 1st quarter valued at about $31,676,265,000. Artemis Wealth Advisors LLC lifted its holdings in 3M by 1,361.9% during the 1st quarter. Artemis Wealth Advisors LLC now owns 307 shares of the conglomerate’s stock valued at $32,000 after purchasing an additional 286 shares during the last quarter. Finally, 25 LLC bought a new position in 3M during the 1st quarter valued at about $33,000. 65.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on MMM shares. Royal Bank of Canada raised their price objective on shares of 3M from $95.00 to $100.00 in a research report on Wednesday, July 26th. Wolfe Research upgraded shares of 3M from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, August 29th. Mizuho restated a “neutral” rating and issued a $120.00 price objective on shares of 3M in a research report on Tuesday, August 29th. Bank of America upgraded shares of 3M from an “underperform” rating to a “neutral” rating and set a $110.00 price objective for the company in a research report on Tuesday, July 11th. Finally, VNET Group restated a “maintains” rating on shares of 3M in a research report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating and eleven have issued a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $113.45.

3M Trading Down 0.2 %

Shares of NYSE:MMM opened at $106.68 on Wednesday. The company has a 50 day moving average of $103.47 and a 200-day moving average of $103.17. 3M has a one year low of $92.38 and a one year high of $133.91. The company has a current ratio of 1.44, a quick ratio of 0.96 and a debt-to-equity ratio of 1.65.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $2.17 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.44. 3M had a negative net margin of 4.43% and a positive return on equity of 38.99%. The business had revenue of $7.99 billion for the quarter, compared to analyst estimates of $7.88 billion. During the same quarter last year, the firm earned $2.48 EPS. 3M’s quarterly revenue was down 8.1% compared to the same quarter last year. On average, sell-side analysts anticipate that 3M will post 8.95 EPS for the current fiscal year.

3M Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Monday, August 21st will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 5.62%. The ex-dividend date of this dividend is Friday, August 18th. 3M’s payout ratio is -211.27%.

3M Company Profile

3M Company provides diversified technology services in the United States and internationally. The company 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.