GW Henssler & Associates Ltd. Has $374,000 Stock Holdings in 3M (NYSE:MMM)

GW Henssler & Associates Ltd. lessened its stake in shares of 3M (NYSE:MMM) by 7.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,738 shares of the conglomerate’s stock after selling 217 shares during the quarter. GW Henssler & Associates Ltd.’s holdings in 3M were worth $374,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Tributary Capital Management LLC acquired a new stake in shares of 3M during the 1st quarter worth about $25,000. MFA Wealth Advisors LLC acquired a new stake in shares of 3M during the 2nd quarter worth about $28,000. Daymark Wealth Partners LLC increased its position in 3M by 8.6% during the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 17,211 shares during the period. McClarren Financial Advisors Inc. increased its position in 3M by 118.6% during the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 121 shares during the period. Finally, Meeder Asset Management Inc. increased its position in 3M by 689.7% during the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 269 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Wells Fargo & Company raised their price target on shares of 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Bank of America raised their price target on shares of 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Melius Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a report on Tuesday, October 22nd. Citigroup raised their target price on shares of 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft raised shares of 3M from a “hold” rating to a “buy” rating and raised their target price for the company from $110.00 to $150.00 in a report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $139.27.

Insider Buying and Selling

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

3M Price Performance

Shares of 3M stock traded down $0.53 during midday trading on Tuesday, hitting $129.76. 940,017 shares of the company traded hands, compared to its average volume of 4,931,564. The stock has a market cap of $71.80 billion, a price-to-earnings ratio of -10.24, a PEG ratio of 2.42 and a beta of 0.95. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43. The firm’s fifty day moving average price is $133.07 and its 200-day moving average price is $114.44. 3M has a 12 month low of $73.15 and a 12 month high of $141.34.

3M (NYSE:MMM) last announced 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 net margin of 15.37% and a return on equity of 104.66%. The company had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.06 billion. During the same period in the previous year, the firm posted $2.68 EPS. The firm’s revenue was down 24.3% on a year-over-year basis. As a group, sell-side analysts forecast that 3M will post 7.26 earnings per share for the current year.

3M Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 26th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.80 annualized dividend and a yield of 2.16%. 3M’s dividend payout ratio is presently -22.01%.

About 3M

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.