N.E.W. Advisory Services LLC Sells 123 Shares of 3M (NYSE:MMM)

N.E.W. Advisory Services LLC lessened its position in 3M (NYSE:MMM) by 4.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,777 shares of the conglomerate’s stock after selling 123 shares during the quarter. N.E.W. Advisory Services LLC’s holdings in 3M were worth $304,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Briaud Financial Planning Inc bought a new position in 3M in the 3rd quarter valued at approximately $35,000. Authentikos Wealth Advisory LLC acquired a new position in 3M in the 3rd quarter valued at approximately $37,000. CGC Financial Services LLC lifted its holdings in shares of 3M by 89.9% during the fourth quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock worth $37,000 after purchasing an additional 160 shares during the period. VisionPoint Advisory Group LLC grew its stake in shares of 3M by 91.9% in the third quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate’s stock worth $42,000 after purchasing an additional 215 shares during the last quarter. Finally, Psagot Value Holdings Ltd. Israel acquired a new stake in 3M in the third quarter valued at $44,000. 65.25% of the stock is owned by institutional investors and hedge funds.

3M Stock Down 1.1 %

MMM traded down $1.04 during midday trading on Tuesday, hitting $95.55. The company had a trading volume of 4,408,683 shares, compared to its average volume of 5,865,751. The stock’s 50 day moving average price is $96.30 and its 200 day moving average price is $97.84. 3M has a 52 week low of $71.12 and a 52 week high of $99.70. The company has a market capitalization of $52.87 billion, a price-to-earnings ratio of -7.51, a PEG ratio of 1.79 and a beta of 1.00. The company has a quick ratio of 1.27, a current ratio of 1.64 and a debt-to-equity ratio of 4.17.

3M (NYSE:MMM) last issued its earnings results on Tuesday, April 30th. The conglomerate reported $2.39 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.29. The business had revenue of $8 billion during the quarter, compared to analyst estimates of $7.64 billion. 3M had a positive return on equity of 95.80% and a negative net margin of 21.57%. During the same period in the previous year, the company posted $1.97 EPS. On average, research analysts anticipate that 3M will post 7.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MMM has been the topic of a number of analyst reports. Mizuho reiterated a “neutral” rating and issued a $105.00 price target on shares of 3M in a research report on Wednesday, March 27th. StockNews.com upgraded 3M from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 25th. Barclays lowered their price target on shares of 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a report on Tuesday, April 2nd. Wells Fargo & Company reduced their price objective on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 24th. Finally, Citigroup lifted their target price on shares of 3M from $98.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, 3M currently has an average rating of “Hold” and a consensus target price of $103.70.

Insider Buying and Selling

In related news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total value of $39,328.32. Following the sale, the insider now owns 3,966 shares in the company, valued at approximately $366,141.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.38% of the stock is 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.