Todd Asset Management LLC Sells 5,141 Shares of 3M (NYSE:MMM)

Todd Asset Management LLC trimmed its position in 3M (NYSE:MMM) by 63.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,940 shares of the conglomerate’s stock after selling 5,141 shares during the quarter. Todd Asset Management LLC’s holdings in 3M were worth $321,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in MMM. Pacer Advisors Inc. increased its holdings in shares of 3M by 1,273.9% in the fourth quarter. Pacer Advisors Inc. now owns 3,783,726 shares of the conglomerate’s stock worth $413,637,000 after purchasing an additional 3,508,334 shares during the last quarter. Los Angeles Capital Management LLC grew its position in 3M by 157.2% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,805,496 shares of the conglomerate’s stock worth $197,377,000 after acquiring an additional 1,103,459 shares in the last quarter. International Assets Investment Management LLC grew its position in 3M by 8,766.0% in the fourth quarter. International Assets Investment Management LLC now owns 1,080,940 shares of the conglomerate’s stock worth $118,168,000 after acquiring an additional 1,068,748 shares in the last quarter. Van ECK Associates Corp grew its position in 3M by 20.8% in the third quarter. Van ECK Associates Corp now owns 2,944,135 shares of the conglomerate’s stock worth $275,630,000 after acquiring an additional 506,654 shares in the last quarter. Finally, FMR LLC grew its position in 3M by 29.8% in the third quarter. FMR LLC now owns 1,908,914 shares of the conglomerate’s stock worth $178,713,000 after acquiring an additional 438,424 shares in the last quarter. 65.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on MMM. Royal Bank of Canada lifted their price target on 3M from $78.00 to $87.00 and gave the stock an “underperform” rating in a research report on Wednesday. Mizuho restated a “neutral” rating and set a $105.00 target price on shares of 3M in a research report on Wednesday, March 27th. Bank of America dropped their target price on 3M from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. upgraded 3M from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $110.00 to $111.00 in a research report on Wednesday. Finally, StockNews.com upgraded 3M from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $103.70.

3M Trading Up 0.4 %

Shares of NYSE MMM traded up $0.34 during trading hours on Friday, reaching $97.15. The stock had a trading volume of 4,818,713 shares, compared to its average volume of 4,770,578. The company has a current ratio of 1.64, a quick ratio of 0.76 and a debt-to-equity ratio of 4.17. The firm has a market cap of $53.76 billion, a price-to-earnings ratio of -7.64, a P/E/G ratio of 1.78 and a beta of 1.00. The business’s fifty day moving average price is $96.14 and its two-hundred day moving average price is $97.59. 3M has a 52-week low of $71.12 and a 52-week high of $99.70.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.29. The firm 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 quarter in the previous year, the business earned $1.97 earnings per share. Analysts expect that 3M will post 7.26 EPS for the current fiscal year.

3M Increases Dividend

The firm 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 is an increase from 3M’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.04 dividend on an annualized basis and a yield of 6.22%. 3M’s payout ratio is -47.48%.

Insider Buying and Selling

In related news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the business’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 value of $39,328.32. Following the completion of 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 accessible through this link. 0.34% of the stock is currently owned by insiders.

3M Company 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.