3M (NYSE:MMM) Shares Sold by Caldwell Sutter Capital Inc.

Caldwell Sutter Capital Inc. cut its stake in shares of 3M (NYSE:MMM) by 3.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 4,075 shares of the conglomerate’s stock after selling 156 shares during the period. Caldwell Sutter Capital Inc.’s holdings in 3M were worth $526,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MMM. CVA Family Office LLC increased its stake in 3M by 1.9% during the third quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate’s stock worth $571,000 after acquiring an additional 79 shares during the last quarter. Wynn Capital LLC raised its holdings in 3M by 0.7% in the 4th quarter. Wynn Capital LLC now owns 11,690 shares of the conglomerate’s stock valued at $1,509,000 after buying an additional 80 shares during the period. Harbour Investments Inc. lifted its position in 3M by 0.8% in the third quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate’s stock valued at $1,443,000 after buying an additional 81 shares during the last quarter. KMG Fiduciary Partners LLC lifted its position in 3M by 0.5% in the third quarter. KMG Fiduciary Partners LLC now owns 16,186 shares of the conglomerate’s stock valued at $2,213,000 after buying an additional 84 shares during the last quarter. Finally, TCV Trust & Wealth Management Inc. boosted its stake in 3M by 1.3% during the third quarter. TCV Trust & Wealth Management Inc. now owns 6,464 shares of the conglomerate’s stock worth $884,000 after buying an additional 84 shares during the period. 65.25% of the stock is owned by hedge funds and other institutional investors.

3M Trading Up 0.4 %

Shares of 3M stock opened at $149.64 on Friday. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The company has a market capitalization of $81.49 billion, a P/E ratio of 19.82, a PEG ratio of 2.46 and a beta of 0.95. 3M has a 1 year low of $75.40 and a 1 year high of $152.08. The company’s fifty day moving average is $132.09 and its two-hundred day moving average is $128.67.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The firm had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5,770,390 billion. During the same quarter last year, the company posted $2.42 earnings per share. The business’s revenue was down 25.0% on a year-over-year basis. Analysts forecast that 3M will post 7.66 earnings per share for the current year.

3M Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend was Friday, November 15th. 3M’s dividend payout ratio is presently 37.09%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on MMM shares. Citigroup lifted their price objective on 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research note on Wednesday. Wells Fargo & Company raised 3M from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $140.00 to $170.00 in a research report on Wednesday. JPMorgan Chase & Co. lifted their target price on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday. Barclays upped their price target on 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Bank of America boosted their price objective on 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $148.87.

3M Company Profile

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.