Auxano Advisors LLC Trims Stock Holdings in 3M (NYSE:MMM)

Auxano Advisors LLC cut its holdings in 3M (NYSE:MMM) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,039 shares of the conglomerate’s stock after selling 151 shares during the quarter. Auxano Advisors LLC’s holdings in 3M were worth $660,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MMM. Vanguard Group Inc. lifted its holdings in shares of 3M by 0.7% during the third quarter. Vanguard Group Inc. now owns 49,033,679 shares of the conglomerate’s stock worth $4,590,533,000 after purchasing an additional 317,483 shares during the period. Invesco Ltd. boosted its holdings in 3M by 2.4% in the 3rd quarter. Invesco Ltd. now owns 4,082,950 shares of the conglomerate’s stock valued at $382,246,000 after purchasing an additional 94,864 shares in the last quarter. Nuance Investments LLC lifted its holdings in shares of 3M by 10.1% in the 3rd quarter. Nuance Investments LLC now owns 4,062,557 shares of the conglomerate’s stock valued at $380,337,000 after buying an additional 371,935 shares during the period. Pacer Advisors Inc. raised its position in 3M by 1,273.9% in the fourth quarter. Pacer Advisors Inc. now owns 3,783,726 shares of the conglomerate’s stock worth $413,637,000 after acquiring an additional 3,508,334 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of 3M by 20.8% during the 3rd quarter. Van ECK Associates Corp now owns 2,944,135 shares of the conglomerate’s stock worth $275,630,000 after purchasing an additional 506,654 shares during the period. 65.25% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at 3M

In related news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total transaction of $39,328.32. Following the completion of the sale, the insider now owns 3,966 shares of the company’s stock, valued at approximately $366,141.12. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on MMM shares. Wells Fargo & Company lowered their target price on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 24th. StockNews.com upgraded shares of 3M from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. Barclays cut their target price on shares of 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. dropped their price objective on shares of 3M from $118.00 to $110.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Finally, Royal Bank of Canada cut their price objective on 3M from $84.00 to $78.00 and set an “underperform” rating for the company in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, 3M has a consensus rating of “Hold” and a consensus price target of $104.00.

3M Trading Up 4.7 %

MMM traded up $4.35 during midday trading on Tuesday, hitting $96.51. The company’s stock had a trading volume of 16,672,305 shares, compared to its average volume of 5,846,069. The firm has a market cap of $53.40 billion, a P/E ratio of -7.67, a PEG ratio of 1.74 and a beta of 1.02. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 2.69. The firm has a 50-day moving average price of $95.73 and a two-hundred day moving average price of $97.49. 3M has a 52-week low of $71.12 and a 52-week high of $97.84.

3M Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were paid a dividend of $1.51 per share. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from 3M’s previous quarterly dividend of $1.50. This represents a $6.04 annualized dividend and a yield of 6.26%. 3M’s dividend payout ratio is currently -47.82%.

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.