Intellectus Partners LLC Trims Position in 3M (NYSE:MMM)

Intellectus Partners LLC trimmed its position in 3M (NYSE:MMM) by 1.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 11,047 shares of the conglomerate’s stock after selling 205 shares during the period. Intellectus Partners LLC’s holdings in 3M were worth $1,510,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MMM. Sei Investments Co. boosted its holdings in 3M by 13.2% in the 1st quarter. Sei Investments Co. now owns 154,810 shares of the conglomerate’s stock valued at $16,420,000 after purchasing an additional 18,054 shares during the period. M&G Plc bought a new position in 3M in the 1st quarter worth about $15,855,000. Poehling Capital Management INC. raised its holdings in shares of 3M by 6.6% in the 1st quarter. Poehling Capital Management INC. now owns 69,623 shares of the conglomerate’s stock valued at $7,385,000 after acquiring an additional 4,330 shares in the last quarter. Mizuho Markets Americas LLC grew its holdings in shares of 3M by 119.3% during the first quarter. Mizuho Markets Americas LLC now owns 110,041 shares of the conglomerate’s stock worth $11,672,000 after purchasing an additional 59,854 shares in the last quarter. Finally, Intech Investment Management LLC grew its holdings in shares of 3M by 3.1% during the first quarter. Intech Investment Management LLC now owns 29,553 shares of the conglomerate’s stock worth $3,135,000 after purchasing an additional 875 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors.

3M Trading Up 0.7 %

NYSE:MMM opened at $132.32 on Friday. The company has a 50-day moving average price of $132.76 and a 200-day moving average price of $117.50. The stock has a market cap of $72.06 billion, a price-to-earnings ratio of 16.71, a P/E/G ratio of 2.17 and a beta of 0.95. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41. 3M has a 12 month low of $75.40 and a 12 month high of $141.34.

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

3M Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, November 15th. This represents a $2.80 annualized dividend and a dividend yield of 2.12%. 3M’s dividend payout ratio is presently 35.35%.

Wall Street Analyst Weigh In

A number of research firms have commented on MMM. Melius raised shares of 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $130.00 to $184.00 in a report on Wednesday. Argus raised 3M from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a report on Tuesday, July 30th. Melius Research raised 3M from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada lifted their price objective on 3M from $99.00 to $100.00 and gave the stock an “underperform” rating in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.87.

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.