3M (NYSE:MMM) Shares Sold by Cambridge Trust Co.

Cambridge Trust Co. trimmed its position in 3M (NYSE:MMM) by 11.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,659 shares of the conglomerate’s stock after selling 1,300 shares during the period. Cambridge Trust Co.’s holdings in 3M were worth $1,056,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of MMM. Financial Freedom LLC acquired a new stake in 3M during the fourth quarter worth approximately $25,000. Briaud Financial Planning Inc acquired a new stake in shares of 3M during the third quarter worth $35,000. Authentikos Wealth Advisory LLC purchased a new stake in shares of 3M in the third quarter valued at $37,000. CGC Financial Services LLC increased its stake in 3M by 89.9% in the fourth quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock valued at $37,000 after purchasing an additional 160 shares during the last quarter. Finally, VisionPoint Advisory Group LLC lifted its position in 3M by 91.9% during the third quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate’s stock worth $42,000 after buying an additional 215 shares during the period. 65.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of 3M stock in a transaction 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 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.34% of the company’s stock.

3M Price Performance

NYSE:MMM opened at $91.40 on Friday. The business’s 50-day moving average is $95.77 and its two-hundred day moving average is $97.22. 3M has a 12 month low of $71.12 and a 12 month high of $95.67. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.07 and a quick ratio of 0.76.

3M (NYSE:MMM) last posted its earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.11. The business had revenue of $8.01 billion during the quarter, compared to analyst estimates of $7.69 billion. 3M had a positive return on equity of 62.45% and a negative net margin of 21.40%. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.28 earnings per share. Equities research analysts anticipate that 3M will post 8.79 earnings per share for the current fiscal year.

3M Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th were given a dividend of $1.51 per share. This is a boost from 3M’s previous quarterly dividend of $1.50. This represents a $6.04 dividend on an annualized basis and a dividend yield of 6.61%. The ex-dividend date was Thursday, February 15th. 3M’s payout ratio is presently -47.82%.

Analyst Ratings Changes

MMM has been the subject of several recent analyst reports. Barclays lowered their price target on 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a report on Tuesday, April 2nd. Citigroup upped their price target on shares of 3M from $95.31 to $98.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Mizuho reaffirmed a “neutral” rating and set a $105.00 price target on shares of 3M in a research note on Wednesday, March 27th. Royal Bank of Canada lowered their price objective on shares of 3M from $84.00 to $78.00 and set an “underperform” rating for the company in a research note on Tuesday, April 2nd. Finally, StockNews.com raised 3M from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $104.00.

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.