Benjamin F. Edwards & Company Inc. Has $2.36 Million Position in 3M (NYSE:MMM)

Benjamin F. Edwards & Company Inc. trimmed its position in shares of 3M (NYSE:MMM) by 33.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 21,616 shares of the conglomerate’s stock after selling 10,892 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in 3M were worth $2,363,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Fragasso Group Inc. grew its stake in 3M by 3.8% in the 3rd quarter. Fragasso Group Inc. now owns 2,556 shares of the conglomerate’s stock valued at $239,000 after purchasing an additional 93 shares during the period. Bangor Savings Bank boosted its position in shares of 3M by 1.0% in the fourth quarter. Bangor Savings Bank now owns 10,489 shares of the conglomerate’s stock valued at $1,147,000 after acquiring an additional 104 shares during the period. Allen Capital Group LLC grew its stake in 3M by 0.5% during the fourth quarter. Allen Capital Group LLC now owns 20,931 shares of the conglomerate’s stock valued at $2,288,000 after acquiring an additional 105 shares in the last quarter. N.E.W. Advisory Services LLC grew its stake in 3M by 4.0% during the third quarter. N.E.W. Advisory Services LLC now owns 2,900 shares of the conglomerate’s stock valued at $272,000 after acquiring an additional 111 shares in the last quarter. Finally, Money Concepts Capital Corp grew its stake in 3M by 5.3% during the third quarter. Money Concepts Capital Corp now owns 2,244 shares of the conglomerate’s stock valued at $210,000 after acquiring an additional 112 shares in the last quarter. 65.25% of the stock is owned by institutional investors.

Insider Activity

In other 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 value of $39,328.32. Following the transaction, the insider now owns 3,966 shares in the company, valued at approximately $366,141.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on MMM shares. StockNews.com raised shares of 3M from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 25th. Mizuho reiterated a “neutral” rating and set a $105.00 price target on shares of 3M in a report on Wednesday, March 27th. UBS Group upped their price target on shares of 3M from $98.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday. JPMorgan Chase & Co. upgraded shares of 3M from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $110.00 to $111.00 in a report on Wednesday. Finally, Citigroup upped their price objective on shares of 3M from $98.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $103.70.

3M Price Performance

NYSE:MMM opened at $97.15 on Friday. 3M has a 1-year low of $71.12 and a 1-year high of $99.70. The firm’s 50-day moving average price is $96.14 and its 200-day moving average price is $97.59. The company has a quick ratio of 0.76, a current ratio of 1.64 and a debt-to-equity ratio of 4.17.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, April 30th. The conglomerate reported $2.39 EPS for the quarter, beating the consensus estimate of $2.10 by $0.29. 3M had a negative net margin of 21.57% and a positive return on equity of 95.80%. The company had revenue of $8 billion for the quarter, compared to the consensus estimate of $7.64 billion. During the same period in the prior year, the firm posted $1.97 EPS. On average, sell-side analysts anticipate that 3M will post 7.23 EPS for the current year.

3M Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th were issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 6.22%. The ex-dividend date was Thursday, February 15th. This is an increase from 3M’s previous quarterly dividend of $1.50. 3M’s dividend payout ratio (DPR) is presently -47.48%.

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.