Calamos Advisors LLC Sells 1,047 Shares of 3M (NYSE:MMM)

Calamos Advisors LLC decreased its stake in shares of 3M (NYSE:MMM) by 1.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 80,183 shares of the conglomerate’s stock after selling 1,047 shares during the period. Calamos Advisors LLC’s holdings in 3M were worth $8,766,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Financial Freedom LLC bought a new stake in 3M in the 4th quarter valued at about $25,000. Briaud Financial Planning Inc acquired a new position in shares of 3M in the 3rd quarter valued at approximately $35,000. Authentikos Wealth Advisory LLC acquired a new position in shares of 3M in the 3rd quarter valued at approximately $37,000. CGC Financial Services LLC raised its position in shares of 3M by 89.9% in the 4th quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock valued at $37,000 after buying an additional 160 shares in the last quarter. Finally, VisionPoint Advisory Group LLC raised its position in shares of 3M by 91.9% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate’s stock valued at $42,000 after buying an additional 215 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.

3M Stock Performance

Shares of MMM stock opened at $92.35 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 2.69. The firm’s 50-day simple moving average is $95.76 and its two-hundred day simple moving average is $97.24. 3M has a 52 week low of $71.12 and a 52 week high of $95.67.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $2.42 EPS for the quarter, beating the consensus estimate of $2.31 by $0.11. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The company had revenue of $8.01 billion during the quarter, compared to analysts’ expectations of $7.69 billion. During the same quarter in the previous year, the company earned $2.28 earnings per share. 3M’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, equities research analysts forecast that 3M will post 8.79 earnings per share for the current year.

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were issued a $1.51 dividend. The ex-dividend date was Thursday, February 15th. This is a positive change from 3M’s previous quarterly dividend of $1.50. This represents a $6.04 annualized dividend and a yield of 6.54%. 3M’s dividend payout ratio is -47.82%.

Insider Buying and Selling

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total transaction of $39,328.32. Following the completion of the sale, the insider now directly owns 3,966 shares in the company, valued at approximately $366,141.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on MMM. Barclays dropped their target price on shares of 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a research report on Tuesday, April 2nd. Royal Bank of Canada reduced their target price on shares of 3M from $84.00 to $78.00 and set an “underperform” rating on the stock in a report on Tuesday, April 2nd. Citigroup upped their price objective on shares of 3M from $95.31 to $98.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Mizuho reaffirmed a “neutral” rating and issued a $105.00 price objective on shares of 3M in a research note on Wednesday, March 27th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of 3M from $118.00 to $110.00 and set a “neutral” rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price 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.