MUFG Securities EMEA plc Sells 1,435 Shares of 3M (NYSE:MMM)

MUFG Securities EMEA plc lowered its holdings in shares of 3M (NYSE:MMMFree Report) by 25.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,113 shares of the conglomerate’s stock after selling 1,435 shares during the period. MUFG Securities EMEA plc’s holdings in 3M were worth $450,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MMM. Fragasso Group Inc. lifted its position in shares of 3M by 3.8% in the 3rd quarter. Fragasso Group Inc. now owns 2,556 shares of the conglomerate’s stock worth $239,000 after purchasing an additional 93 shares during the period. Bangor Savings Bank lifted its holdings in 3M by 1.0% in the fourth quarter. Bangor Savings Bank now owns 10,489 shares of the conglomerate’s stock valued at $1,147,000 after buying an additional 104 shares during the period. Allen Capital Group LLC boosted its position in 3M by 0.5% during the fourth quarter. Allen Capital Group LLC now owns 20,931 shares of the conglomerate’s stock valued at $2,288,000 after acquiring an additional 105 shares during the last quarter. Allegheny Financial Group LTD grew its holdings in 3M by 2.3% during the 4th quarter. Allegheny Financial Group LTD now owns 5,032 shares of the conglomerate’s stock worth $550,000 after acquiring an additional 113 shares during the period. Finally, Cape Investment Advisory Inc. raised its position in shares of 3M by 42.8% in the 4th quarter. Cape Investment Advisory Inc. now owns 387 shares of the conglomerate’s stock worth $42,000 after acquiring an additional 116 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Stock Up 0.2 %

Shares of MMM stock traded up $0.16 during trading hours on Friday, reaching $99.67. The company had a trading volume of 2,602,227 shares, compared to its average volume of 5,506,785. The company has a market cap of $55.15 billion, a price-to-earnings ratio of -7.84, a price-to-earnings-growth ratio of 1.84 and a beta of 1.00. The company has a debt-to-equity ratio of 4.17, a current ratio of 1.64 and a quick ratio of 1.27. 3M has a 12 month low of $71.12 and a 12 month high of $106.04. The business has a fifty day simple moving average of $97.69 and a 200-day simple moving average of $98.75.

3M (NYSE:MMMGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The conglomerate reported $2.39 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.29. The business 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 period in the prior year, the firm posted $1.97 EPS. On average, research analysts expect that 3M will post 7.23 earnings per share for the current fiscal year.

3M Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 24th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend is Thursday, May 23rd. 3M’s dividend payout ratio (DPR) is presently -22.01%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Bank of America cut their target price on 3M from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 2nd. Citigroup lifted their price objective on shares of 3M from $98.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Barclays cut their target price on shares of 3M from $126.00 to $107.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. raised shares of 3M from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $110.00 to $111.00 in a research note on Wednesday, May 1st. Finally, Royal Bank of Canada increased their price objective on shares of 3M from $78.00 to $87.00 and gave the stock an “underperform” rating in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $107.55.

Get Our Latest Analysis on MMM

3M Profile

(Free Report)

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.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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