GHP Investment Advisors Inc. Decreases Position in 3M (NYSE:MMM)

GHP Investment Advisors Inc. cut its position in 3M (NYSE:MMM) by 13.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,195 shares of the conglomerate’s stock after selling 512 shares during the period. GHP Investment Advisors Inc.’s holdings in 3M were worth $349,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of MMM. Financial Freedom LLC purchased a new position in 3M in the fourth quarter worth about $25,000. DHJJ Financial Advisors Ltd. purchased a new position in 3M in the third quarter worth about $28,000. Briaud Financial Planning Inc purchased a new position in 3M in the third quarter worth about $35,000. Authentikos Wealth Advisory LLC purchased a new position in 3M in the third quarter worth about $37,000. Finally, CGC Financial Services LLC raised its holdings in 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 last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at 3M

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total value of $39,328.32. Following the sale, the insider now owns 3,966 shares of the company’s stock, valued at $366,141.12. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wells Fargo & Company decreased their price objective on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a report on Wednesday, January 24th. Mizuho reissued a “neutral” rating and set a $105.00 price objective on shares of 3M in a report on Wednesday, March 27th. Royal Bank of Canada decreased their price objective on shares of 3M from $84.00 to $78.00 and set an “underperform” rating for the company in a report on Tuesday, April 2nd. Barclays decreased their price objective on shares of 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a report on Tuesday, April 2nd. Finally, Bank of America decreased their price objective on shares of 3M from $110.00 to $100.00 and set a “neutral” rating for the company in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $103.50.

3M Price Performance

MMM stock opened at $91.32 on Friday. 3M has a one year low of $71.12 and a one year high of $95.67. The company’s fifty day moving average price is $95.95 and its 200-day moving average price is $97.29. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.76 and a current ratio of 1.07. The company has a market capitalization of $50.53 billion, a PE ratio of -7.23, a price-to-earnings-growth ratio of 1.65 and a beta of 1.02.

3M (NYSE:MMM) last released its earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 EPS for the quarter, topping the consensus estimate of $2.31 by $0.11. The firm had revenue of $8.01 billion for the quarter, compared to the consensus estimate of $7.69 billion. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.28 earnings per share. On average, equities analysts anticipate that 3M will post 8.79 EPS for the current fiscal year.

3M Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 16th were paid a dividend of $1.51 per share. This is an increase from 3M’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.04 dividend on an annualized basis and a yield of 6.61%. 3M’s dividend payout ratio is presently -47.82%.

3M Company 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.