Auxano Advisors LLC Sells 151 Shares of 3M (NYSE:MMM)

Auxano Advisors LLC cut its position in 3M (NYSE:MMM) by 2.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (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 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of 3M by 15.4% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 110,988 shares of the conglomerate’s stock worth $10,391,000 after purchasing an additional 14,775 shares during the period. Shoker Investment Counsel Inc. lifted its holdings in shares of 3M by 49.7% during the 3rd quarter. Shoker Investment Counsel Inc. now owns 16,747 shares of the conglomerate’s stock worth $1,568,000 after acquiring an additional 5,561 shares during the period. Diversified Trust Co boosted its position in shares of 3M by 1.4% during the 4th quarter. Diversified Trust Co now owns 18,487 shares of the conglomerate’s stock worth $2,021,000 after acquiring an additional 263 shares in the last quarter. MWA Asset Management acquired a new position in 3M during the fourth quarter valued at approximately $1,723,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of 3M in the 3rd quarter valued at $11,908,000. Institutional investors own 65.25% of the company’s stock.

3M Trading Up 4.7 %

MMM stock traded up $4.35 during mid-day trading on Tuesday, reaching $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 company has a market cap of $53.40 billion, a price-to-earnings ratio of -7.67, a price-to-earnings-growth ratio of 1.74 and a beta of 1.02. 3M has a 12 month low of $71.12 and a 12 month high of $97.84. The business’s 50 day moving average price is $95.73 and its 200 day moving average price is $97.49. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 2.69.

3M Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 6.26%. This is a boost from 3M’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Thursday, February 15th. 3M’s dividend payout ratio (DPR) is presently -47.82%.

Insider Buying and Selling at 3M

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

Analyst Upgrades and Downgrades

MMM has been the subject of several research analyst reports. Mizuho reissued a “neutral” rating and set a $105.00 target price on shares of 3M in a research note on Wednesday, March 27th. Citigroup upped their target price on 3M from $95.31 to $98.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. JPMorgan Chase & Co. reduced their price target on 3M from $118.00 to $110.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Royal Bank of Canada cut their target price on shares of 3M from $84.00 to $78.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 2nd. Finally, StockNews.com raised shares of 3M from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, 3M currently has an average rating of “Hold” and a consensus price target of $104.00.

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.