Dumont & Blake Investment Advisors LLC Has $926,000 Holdings in 3M (NYSE:MMM)

Dumont & Blake Investment Advisors LLC lessened its position in 3M (NYSE:MMM) by 50.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,776 shares of the conglomerate’s stock after selling 6,942 shares during the period. Dumont & Blake Investment Advisors LLC’s holdings in 3M were worth $926,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Capital World Investors acquired a new stake in shares of 3M during the first quarter worth $165,986,000. International Assets Investment Management LLC raised its stake in 3M by 11,601.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate’s stock worth $172,416,000 after purchasing an additional 1,250,491 shares in the last quarter. National Bank of Canada FI grew its position in shares of 3M by 218.3% during the 1st quarter. National Bank of Canada FI now owns 1,489,351 shares of the conglomerate’s stock worth $147,344,000 after purchasing an additional 1,021,440 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of 3M by 1,015.6% during the first quarter. Janus Henderson Group PLC now owns 888,564 shares of the conglomerate’s stock worth $94,247,000 after purchasing an additional 808,914 shares during the period. Finally, Electron Capital Partners LLC bought a new stake in shares of 3M in the second quarter valued at approximately $76,732,000. 65.25% of the stock is owned by institutional investors.

Insider Transactions at 3M

In other 3M news, CFO Theresa E. Reinseth sold 2,100 shares of 3M stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total value of $260,652.00. Following the sale, the chief financial officer now owns 4,364 shares of the company’s stock, valued at $541,659.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Chairman Michael F. Roman sold 5,675 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total value of $700,635.50. Following the completion of the sale, the chairman now directly owns 174,036 shares in the company, valued at $21,486,484.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Theresa E. Reinseth sold 2,100 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total transaction of $260,652.00. Following the completion of the sale, the chief financial officer now directly owns 4,364 shares in the company, valued at approximately $541,659.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Argus raised 3M from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised shares of 3M from a “hold” rating to a “buy” rating and lifted their price target for the company from $110.00 to $150.00 in a report on Monday, July 29th. Morgan Stanley initiated coverage on 3M in a report on Friday, September 6th. They issued an “underweight” rating and a $125.00 target price for the company. Wells Fargo & Company raised their price objective on 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, Melius Research raised 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, 3M has an average rating of “Hold” and a consensus price target of $135.67.

3M Stock Performance

3M stock traded down $0.26 during mid-day trading on Friday, reaching $126.21. 133,384 shares of the stock traded hands, compared to its average volume of 4,931,770. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.43 and a quick ratio of 1.08. The stock has a market capitalization of $69.33 billion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 2.42 and a beta of 0.95. The business’s 50-day moving average is $133.07 and its 200-day moving average is $113.57. 3M has a 12-month low of $72.47 and a 12-month high of $141.34.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.05. 3M had a return on equity of 104.66% and a net margin of 15.37%. The business had revenue of $6.29 billion during the quarter, compared to analyst estimates of $6.06 billion. During the same quarter in the previous year, the company posted $2.68 earnings per share. 3M’s revenue for the quarter was down 24.3% on a year-over-year basis. As a group, sell-side analysts predict that 3M will post 7.26 EPS for the current fiscal year.

3M Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 26th were given a $0.70 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.22%. 3M’s payout ratio is currently 35.35%.

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.