CWA Asset Management Group LLC trimmed its position in 3M (NYSE: MMM – Get Rating) by 93.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,814 shares of the conglomerate’s stock after selling 38,961 shares during the quarter. CWA Asset Management Group LLC’s holdings in 3M were worth $ 500,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently bought and sold shares of the stock. MidWestOne Financial Group Inc. grew its position in shares of 3M by 1.0% during the 4th quarter. MidWestOne Financial Group Inc. now owns 10,225 shares of the conglomerate’s stock valued at $ 1,816,000 after buying an additional 105 shares during the last quarter. Chicago Partners Investment Group LLC boosted its stake in 3M by 2.9% in the fourth quarter. Chicago Partners Investment Group LLC now owns 4,188 shares of the conglomerate’s stock valued at $ 662,000 after acquiring an additional 117 shares during the period. Metropolitan Life Insurance Co NY grew its holdings in shares of 3M by 12.3% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 69,861 shares of the conglomerate’s stock valued at $ 12,409,000 after purchasing an additional 7,646 shares during the last quarter. HB Wealth Management LLC acquired a new stake in shares of 3M during the 4th quarter worth approximately $ 2,211,000. Finally, West Family Investments Inc. bought a new stake in shares of 3M in the 4th quarter worth approximately $ 256,000. 67.22% of the stock is currently owned by institutional investors and hedge funds.
MMM opened at $ 136.37 on Tuesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.00 and a current ratio of 1.58. The company has a market capitalization of $ 77.60 billion, a PE ratio of 14.19, a P / E / G ratio of 1.34 and a beta of 0.92. The stock’s fifty day moving average is $ 147.65 and its 200-day moving average is $ 157.70. 3M has a one year low of $ 135.62 and a one year high of $ 203.59.
3M (NYSE: MMM – Get Rating) last announced its earnings results on Tuesday, April 26th. The conglomerate reported $ 2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $ 2.33 by $ 0.32. 3M had a return on equity of 39.35% and a net margin of 15.84%. The company had revenue of $ 8.80 billion for the quarter, compared to analyst estimates of $ 8.75 billion. During the same period in the previous year, the firm earned $ 2.77 earnings per share. 3M’s revenue for the quarter was down .6% compared to the same quarter last year. On average, equities research analysts forecast that 3M will post 10.84 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Sunday, June 12th. Stockholders of record on Friday, May 20th were paid a $ 1.49 dividend. This represents a $ 5.96 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date of this dividend was Thursday, May 19th. 3M’s dividend payout ratio (DPR) is presently 62.02%.
In other news, insider Mojdeh Poul sold 1,634 shares of the stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $ 151.68, for a total transaction of $ 247,845.12. Following the transaction, the insider now owns 7,637 shares in the company, valued at approximately $ 1,158,380.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael F. Roman sold 10,610 shares of 3M stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $ 146.21, for a total transaction of $ 1,551,288.10. Following the completion of the sale, the chief executive officer now directly owns 90,361 shares of the company stock, valued at approximately $ 13,211,681.81. The disclosure for this sale can be found here. 0.39% of the stock is owned by company insiders.
A number of research firms have issued reports on MMM. Royal Bank of Canada raised their target price on 3M from $ 136.00 to $ 138.00 and gave the company an “underperform” rating in a research note on Wednesday, April 27th. Morgan Stanley reduced their target price on shares of 3M from $ 150.00 to $ 145.00 and set an “underweight” rating for the company in a research note on Thursday, April 7th. Citigroup decreased their target price on shares of 3M from $ 157.00 to $ 151.00 in a research report on Wednesday, April 27th. Argus cut 3M from a “buy” rating to a “hold” rating in a report on Thursday, April 28th. Finally, Jefferies Financial Group decreased their price objective on 3M from $ 186.00 to $ 161.00 and set a “hold” rating for the company in a report on Tuesday, March 15th. Five equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $ 165.14.
3M Profile: (Get Rating)
3M Company operates as a diversified technology company worldwide. It operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The 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.
Featured Articles:
Receive News & Ratings for 3M Daily: – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for 3M and related companies with MarketBeat.com’s FREE daily email newsletter.
.