3M (NYSE:MMM) Stock Holdings Trimmed by Flossbach Von Storch AG

Flossbach Von Storch AG lessened its position in shares of 3M (NYSE:MMM) by 9.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,683,781 shares of the conglomerate’s stock after selling 589,710 shares during the quarter. 3M comprises about 2.8% of Flossbach Von Storch AG’s investment portfolio, making the stock its 16th largest position. Flossbach Von Storch AG’s holdings in 3M were worth $621,351,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in MMM. Financial Freedom LLC bought a new position in 3M during the fourth quarter worth $25,000. DHJJ Financial Advisors Ltd. acquired a new position in 3M in the third quarter valued at approximately $28,000. Briaud Financial Planning Inc bought a new position in shares of 3M during the third quarter valued at approximately $35,000. Authentikos Wealth Advisory LLC bought a new stake in shares of 3M in the 3rd quarter worth approximately $37,000. Finally, CGC Financial Services LLC boosted its position in 3M by 89.9% during the 4th quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock valued at $37,000 after purchasing an additional 160 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MMM shares. Barclays dropped their target price on 3M from $126.00 to $107.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. decreased their target price on shares of 3M from $118.00 to $110.00 and set a “neutral” rating for the company in a research report on Wednesday. Citigroup boosted their price objective on 3M from $95.31 to $98.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Wells Fargo & Company reduced their price target on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 24th. Finally, Royal Bank of Canada decreased their target price on 3M from $84.00 to $78.00 and set an “underperform” rating for the company in a research note on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, 3M has a consensus rating of “Hold” and an average target price of $104.00.

3M Stock Down 0.1 %

Shares of MMM stock traded down $0.10 during trading on Wednesday, hitting $90.95. 3,420,952 shares of the company were exchanged, compared to its average volume of 5,937,206. The firm has a market capitalization of $50.33 billion, a price-to-earnings ratio of -7.20, a P/E/G ratio of 1.61 and a beta of 1.02. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.76 and a current ratio of 1.07. The business’s 50-day simple moving average is $95.81 and its 200 day simple moving average is $97.26. 3M has a twelve month low of $71.12 and a twelve month high of $95.67.

3M (NYSE:MMM) last issued its earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $7.69 billion. During the same quarter last year, the business posted $2.28 EPS. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, analysts forecast that 3M will post 8.79 EPS for the current fiscal year.

3M Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were given a $1.51 dividend. 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 6.64%. The ex-dividend date of this dividend was Thursday, February 15th. 3M’s dividend payout ratio is presently -47.82%.

Insider Activity

In related news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total transaction of $39,328.32. Following the transaction, the insider now owns 3,966 shares of the company’s stock, valued at $366,141.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.38% of the stock is owned by corporate insiders.

About 3M

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.