Bryn Mawr Capital Management LLC Trims Holdings in 3M (NYSE:MMM)

Bryn Mawr Capital Management LLC trimmed its position in 3M (NYSE:MMM) by 28.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,629 shares of the conglomerate’s stock after selling 6,226 shares during the period. Bryn Mawr Capital Management LLC’s holdings in 3M were worth $1,709,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caprock Group LLC grew its position in 3M by 57.0% in the third quarter. Caprock Group LLC now owns 9,248 shares of the conglomerate’s stock valued at $866,000 after acquiring an additional 3,357 shares in the last quarter. Czech National Bank increased its holdings in shares of 3M by 47.7% during the third quarter. Czech National Bank now owns 96,487 shares of the conglomerate’s stock valued at $9,033,000 after purchasing an additional 31,181 shares during the period. Asset Management One Co. Ltd. increased its holdings in shares of 3M by 9.3% during the third quarter. Asset Management One Co. Ltd. now owns 335,535 shares of the conglomerate’s stock valued at $31,413,000 after purchasing an additional 28,417 shares during the period. Etesian Wealth Advisors Inc. grew its holdings in 3M by 5.7% during the third quarter. Etesian Wealth Advisors Inc. now owns 7,883 shares of the conglomerate’s stock worth $738,000 after acquiring an additional 423 shares during the period. Finally, Aaron Wealth Advisors LLC grew its holdings in 3M by 13.1% during the third quarter. Aaron Wealth Advisors LLC now owns 3,452 shares of the conglomerate’s stock worth $323,000 after acquiring an additional 400 shares during the period. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MMM has been the topic of a number of research analyst reports. Citigroup lifted their target price on 3M from $95.31 to $98.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Royal Bank of Canada lowered their target price on 3M from $84.00 to $78.00 and set an “underperform” rating on the stock in a report on Tuesday, April 2nd. Bank of America lowered their target price on 3M from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Tuesday, April 2nd. JPMorgan Chase & Co. lowered their target price on 3M from $118.00 to $110.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Finally, Wells Fargo & Company lowered their target price on 3M from $112.00 to $105.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $104.00.

3M Stock Up 0.4 %

Shares of 3M stock traded up $0.39 during trading on Friday, hitting $91.80. 4,519,673 shares of the stock traded hands, compared to its average volume of 5,728,667. The stock has a market cap of $50.80 billion, a P/E ratio of -7.27, a PEG ratio of 1.82 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. 3M has a twelve month low of $71.12 and a twelve month high of $95.67. The company has a fifty day moving average price of $95.71 and a two-hundred day moving average price of $97.37.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.11. 3M had a positive return on equity of 62.45% and a negative net margin of 21.40%. The business had revenue of $8.01 billion for the quarter, compared to the consensus estimate of $7.69 billion. During the same period last year, the business earned $2.28 EPS. The firm’s revenue was down 1.1% compared to the same quarter last year. Equities research analysts predict that 3M will post 7.87 EPS for the current fiscal year.

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 16th were paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 6.58%. This is an increase from 3M’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Thursday, February 15th. 3M’s dividend payout ratio (DPR) is presently -47.82%.

Insider Activity at 3M

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was 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 Securities & Exchange Commission, which is available at this hyperlink. 0.34% of the stock is owned by company 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.