3M (NYSE:MMM) Shares Sold by Uncommon Cents Investing LLC

Uncommon Cents Investing LLC lessened its stake in 3M (NYSE:MMM) by 1.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 25,259 shares of the conglomerate’s stock after selling 435 shares during the period. Uncommon Cents Investing LLC’s holdings in 3M were worth $3,261,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. grew its position in 3M by 0.8% in the 2nd quarter. American Century Companies Inc. now owns 82,161 shares of the conglomerate’s stock valued at $8,396,000 after acquiring an additional 650 shares in the last quarter. Intech Investment Management LLC grew its holdings in shares of 3M by 17.6% in the second quarter. Intech Investment Management LLC now owns 34,758 shares of the conglomerate’s stock valued at $3,552,000 after purchasing an additional 5,205 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in 3M by 7.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 489,502 shares of the conglomerate’s stock worth $50,022,000 after buying an additional 34,081 shares during the period. AE Wealth Management LLC boosted its position in 3M by 6.9% in the 2nd quarter. AE Wealth Management LLC now owns 24,322 shares of the conglomerate’s stock valued at $2,485,000 after buying an additional 1,565 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ boosted its position in 3M by 1.7% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 115,605 shares of the conglomerate’s stock valued at $11,814,000 after buying an additional 1,949 shares during the period. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Price Performance

MMM stock opened at $141.02 on Monday. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41. The company has a market capitalization of $76.80 billion, a P/E ratio of 17.81, a PEG ratio of 2.01 and a beta of 0.95. The business has a 50 day simple moving average of $131.24 and a 200-day simple moving average of $127.74. 3M has a twelve month low of $75.40 and a twelve month high of $141.66.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.05. The firm had revenue of $6.29 billion during the quarter, compared to analysts’ expectations of $6.06 billion. 3M had a net margin of 15.37% and a return on equity of 104.66%. 3M’s quarterly revenue was down 24.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.68 EPS. As a group, equities analysts anticipate that 3M will post 7.27 EPS for the current year.

3M Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.99%. The ex-dividend date was Friday, November 15th. 3M’s dividend payout ratio (DPR) is presently 35.35%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on MMM shares. Bank of America boosted their target price on 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their price target on shares of 3M from $165.00 to $162.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Melius Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a research report on Tuesday, October 22nd. Wells Fargo & Company raised their price objective on shares of 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Finally, Mizuho boosted their target price on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $144.13.

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.