Stock Yards Bank & Trust Co. Sells 3,418 Shares of 3M (NYSE:MMM)

Stock Yards Bank & Trust Co. lowered its stake in 3M (NYSE:MMM) by 13.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,826 shares of the conglomerate’s stock after selling 3,418 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in 3M were worth $2,947,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. FSA Wealth Management LLC bought a new stake in 3M during the 3rd quarter valued at approximately $27,000. McClarren Financial Advisors Inc. raised its stake in 3M by 118.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 121 shares during the period. True Wealth Design LLC raised its stake in 3M by 2,466.7% during the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock valued at $42,000 after purchasing an additional 296 shares during the period. ORG Partners LLC raised its stake in 3M by 44.1% during the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after purchasing an additional 98 shares during the period. Finally, Northwest Investment Counselors LLC bought a new stake in 3M during the 3rd quarter valued at approximately $57,000. Institutional investors own 65.25% of the company’s stock.

Wall Street Analyst Weigh In

MMM has been the topic of a number of research reports. Citigroup lifted their price objective on 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Mizuho lifted their price objective on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Barclays lifted their price objective on 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Wells Fargo & Company raised 3M from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, 3M has an average rating of “Moderate Buy” and a consensus price target of $148.87.

3M Price Performance

MMM opened at $152.26 on Monday. The business has a fifty day moving average of $135.21 and a 200 day moving average of $131.08. 3M has a 52-week low of $75.40 and a 52-week high of $155.00. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The stock has a market cap of $82.92 billion, a P/E ratio of 20.17, a PEG ratio of 3.37 and a beta of 0.96.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The company had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.77 billion. During the same quarter in the previous year, the business earned $2.42 EPS. 3M’s revenue was down 25.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that 3M will post 7.8 EPS for the current year.

3M Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.84%. The ex-dividend date was Friday, November 15th. 3M’s dividend payout ratio is 37.09%.

Insiders Place Their Bets

In other news, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $150.25, for a total value of $247,161.25. Following the completion of the transaction, the insider now directly owns 5,153 shares of the company’s stock, valued at approximately $774,238.25. The trade was a 24.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Theresa E. Reinseth sold 2,309 shares of the business’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $149.95, for a total value of $346,234.55. Following the completion of the transaction, the chief accounting officer now directly owns 4,417 shares of the company’s stock, valued at approximately $662,329.15. The trade was a 34.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 111,889 shares of company stock worth $16,893,561. 0.38% of the stock is currently owned by company insiders.

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.