Wealth Architects LLC trimmed its holdings in shares of 3M Company (NYSE:MMM) by 0.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,169 shares of the conglomerate’s stock after selling 120 shares during the period. 3M comprises 1.3% of Wealth Architects LLC’s holdings, making the stock its 12th largest position. Wealth Architects LLC’s holdings in 3M were worth $3,574,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Jackson Grant Investment Advisers Inc. boosted its stake in shares of 3M by 0.6% during the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 718 shares of the conglomerate’s stock worth $137,000 after buying an additional 4 shares during the last quarter. Founders Capital Management LLC boosted its stake in shares of 3M by 0.4% during the 1st quarter. Founders Capital Management LLC now owns 1,939 shares of the conglomerate’s stock worth $371,000 after buying an additional 8 shares during the last quarter. Baystate Wealth Management LLC boosted its stake in shares of 3M by 0.6% during the 1st quarter. Baystate Wealth Management LLC now owns 1,950 shares of the conglomerate’s stock worth $370,000 after buying an additional 11 shares during the last quarter. Capital Management Corp VA boosted its stake in shares of 3M by 0.3% during the 1st quarter. Capital Management Corp VA now owns 3,934 shares of the conglomerate’s stock worth $753,000 after buying an additional 11 shares during the last quarter. Finally, Smith Chas P & Associates PA Cpas boosted its stake in shares of 3M by 0.7% during the 1st quarter. Smith Chas P & Associates PA Cpas now owns 1,952 shares of the conglomerate’s stock worth $374,000 after buying an additional 13 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

In other 3M news, VP Eric D. Hammes sold 1,428 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $206.66, for a total value of $295,110.48. Following the transaction, the vice president now directly owns 3,066 shares in the company, valued at $633,619.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Frank R. Jr. Little sold 2,719 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $206.03, for a total transaction of $560,195.57. Following the completion of the transaction, the insider now owns 9,010 shares in the company, valued at $1,856,330.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,112 shares of company stock worth $1,878,890. Corporate insiders own 0.58% of the company’s stock.

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A number of equities analysts have recently commented on the stock. J P Morgan Chase & Co downgraded shares of 3M from a “neutral” rating to an “underweight” rating and increased their price objective for the stock from $185.00 to $201.00 in a research note on Wednesday, September 20th. Royal Bank Of Canada restated a “hold” rating and set a $209.00 price objective on shares of 3M in a research note on Friday, September 15th. Bank of America Corporation restated a “buy” rating and set a $227.00 price objective on shares of 3M in a research note on Thursday, September 14th. Jefferies Group LLC restated a “buy” rating and set a $234.00 price objective on shares of 3M in a research note on Wednesday, August 16th. Finally, Stifel Nicolaus restated a “hold” rating and set a $210.00 price objective on shares of 3M in a research note on Friday, July 28th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. 3M currently has a consensus rating of “Hold” and an average target price of $207.35.

3M Company (NYSE MMM) opened at 209.48 on Thursday. The firm has a 50-day moving average of $206.16 and a 200 day moving average of $201.42. 3M Company has a 12-month low of $163.85 and a 12-month high of $214.65. The company has a market capitalization of $125.01 billion, a PE ratio of 23.89 and a beta of 1.08.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $2.58 earnings per share for the quarter, missing the consensus estimate of $2.59 by ($0.01). The firm had revenue of $7.81 billion for the quarter, compared to analysts’ expectations of $7.86 billion. 3M had a return on equity of 47.83% and a net margin of 17.65%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.08 earnings per share. Analysts forecast that 3M Company will post $8.95 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Friday, August 25th were paid a $1.175 dividend. This represents a $4.70 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date was Wednesday, August 23rd. 3M’s payout ratio is 53.59%.

About 3M

3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.

Institutional Ownership by Quarter for 3M (NYSE:MMM)

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