SG Americas Securities LLC Sells 550,395 Shares of 3M Company (MMM)

SG Americas Securities LLC lessened its position in 3M Company (NYSE:MMM) by 95.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,716 shares of the conglomerate’s stock after selling 550,395 shares during the quarter. SG Americas Securities LLC’s holdings in 3M were worth $5,608,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Mascoma Wealth Management LLC increased its position in shares of 3M by 87.5% during the 3rd quarter. Mascoma Wealth Management LLC now owns 750 shares of the conglomerate’s stock worth $157,000 after purchasing an additional 350 shares during the last quarter. Massey Quick Simon & CO. LLC increased its position in shares of 3M by 65.0% during the 3rd quarter. Massey Quick Simon & CO. LLC now owns 2,706 shares of the conglomerate’s stock worth $568,000 after purchasing an additional 1,066 shares during the last quarter. Rhumbline Advisers increased its position in shares of 3M by 0.9% during the 3rd quarter. Rhumbline Advisers now owns 1,124,531 shares of the conglomerate’s stock worth $236,039,000 after purchasing an additional 9,617 shares during the last quarter. New York State Common Retirement Fund increased its position in shares of 3M by 0.5% during the 3rd quarter. New York State Common Retirement Fund now owns 1,700,225 shares of the conglomerate’s stock worth $356,877,000 after purchasing an additional 8,500 shares during the last quarter. Finally, Kingfisher Capital LLC acquired a new position in shares of 3M during the 3rd quarter worth approximately $213,000. 66.26% of the stock is currently owned by institutional investors and hedge funds.

Shares of 3M Company (MMM) traded down $0.06 during midday trading on Friday, hitting $229.36. The stock had a trading volume of 1,732,091 shares, compared to its average volume of 2,109,818. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.07 and a quick ratio of 1.47. 3M Company has a one year low of $170.72 and a one year high of $238.90. The company has a market cap of $136,608.64, a P/E ratio of 25.63, a P/E/G ratio of 2.49 and a beta of 1.08.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $2.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.21 by $0.12. The business had revenue of $8.17 billion during the quarter, compared to the consensus estimate of $7.93 billion. 3M had a return on equity of 48.55% and a net margin of 17.71%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.15 EPS. equities analysts predict that 3M Company will post 9.08 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Friday, November 24th will be paid a $0.0118 dividend. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.05 annualized dividend and a yield of 0.02%. 3M’s dividend payout ratio (DPR) is presently 52.51%.

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MMM has been the topic of several recent analyst reports. BidaskClub lowered 3M from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. William Blair reaffirmed an “outperform” rating on shares of 3M in a research report on Wednesday, July 26th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $209.00 price target (down previously from $210.00) on shares of 3M in a research report on Wednesday, July 26th. Morgan Stanley reaffirmed an “underweight” rating and set a $190.00 price target (down previously from $191.00) on shares of 3M in a research report on Wednesday, July 26th. Finally, Citigroup Inc. lowered their price target on 3M from $230.00 to $228.00 and set a “buy” rating on the stock in a research report on Wednesday, July 26th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $231.16.

In related news, insider Frank R. Jr. Little sold 1,500 shares of the business’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $234.47, for a total value of $351,705.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Nicholas C. Gangestad sold 4,004 shares of the business’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $233.84, for a total value of $936,295.36. Following the completion of the sale, the chief financial officer now owns 25,805 shares of the company’s stock, valued at $6,034,241.20. The disclosure for this sale can be found here. Insiders sold a total of 22,804 shares of company stock valued at $5,303,706 over the last 90 days. 0.58% of the stock is currently owned by corporate insiders.

3M Profile

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, , 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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