Cwm LLC Has $3.20 Million Stock Position in 3M (NYSE:MMM)

Cwm LLC lowered its stake in 3M (NYSE:MMM) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 29,276 shares of the conglomerate’s stock after selling 740 shares during the quarter. Cwm LLC’s holdings in 3M were worth $3,200,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. First Command Advisory Services Inc. increased its position in shares of 3M by 10.3% in the fourth quarter. First Command Advisory Services Inc. now owns 2,122 shares of the conglomerate’s stock valued at $232,000 after acquiring an additional 198 shares during the last quarter. Signaturefd LLC grew its holdings in 3M by 36.6% during the fourth quarter. Signaturefd LLC now owns 8,913 shares of the conglomerate’s stock worth $974,000 after purchasing an additional 2,386 shares during the period. Pathway Financial Advisors LLC bought a new position in 3M during the fourth quarter worth about $205,000. Verdence Capital Advisors LLC grew its holdings in 3M by 17.3% during the fourth quarter. Verdence Capital Advisors LLC now owns 16,301 shares of the conglomerate’s stock worth $1,782,000 after purchasing an additional 2,405 shares during the period. Finally, abrdn plc grew its holdings in 3M by 23.5% during the fourth quarter. abrdn plc now owns 837,272 shares of the conglomerate’s stock worth $91,531,000 after purchasing an additional 159,295 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

Analyst Upgrades and Downgrades

MMM has been the subject of a number of research analyst reports. Barclays reduced their price target on 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a report on Tuesday, April 2nd. Bank of America reduced their price objective on 3M from $110.00 to $100.00 and set a “neutral” rating for the company in a report on Tuesday, April 2nd. JPMorgan Chase & Co. reduced their price objective on 3M from $118.00 to $110.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Mizuho restated a “neutral” rating and set a $105.00 price objective on shares of 3M in a report on Wednesday, March 27th. Finally, Wells Fargo & Company reduced their price objective on 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a report on Wednesday, January 24th. 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 data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $104.00.

3M Price Performance

Shares of MMM opened at $92.02 on Thursday. 3M has a one year low of $71.12 and a one year high of $95.67. 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 firm has a 50 day simple moving average of $95.72 and a two-hundred day simple moving average of $97.39.

3M (NYSE:MMM) last announced 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 business had revenue of $8.01 billion during the quarter, compared to the consensus estimate of $7.69 billion. During the same period in the previous year, the business earned $2.28 earnings per share. The company’s revenue was down 1.1% on a year-over-year basis. On average, equities research analysts anticipate that 3M will post 7.87 EPS for the current year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were given a dividend of $1.51 per share. This is an increase from 3M’s previous quarterly dividend of $1.50. This represents a $6.04 annualized dividend and a yield of 6.56%. The ex-dividend date of this dividend was Thursday, February 15th. 3M’s payout ratio is currently -47.82%.

Insider Transactions 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 shares were sold at an average price of $92.32, for a total transaction of $39,328.32. Following the completion of the transaction, the insider now directly owns 3,966 shares in the company, valued at $366,141.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.34% of the company’s stock.

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.