3M (NYSE:MMM) Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC decreased its position in 3M (NYSE:MMM) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,485 shares of the conglomerate’s stock after selling 2,132 shares during the quarter. Yousif Capital Management LLC’s holdings in 3M were worth $10,390,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in MMM. Financial Life Planners acquired a new stake in 3M during the 4th quarter valued at $25,000. FSA Wealth Management LLC purchased a new position in 3M in the 3rd quarter valued at about $27,000. Daymark Wealth Partners LLC grew its stake in shares of 3M by 8.6% during the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 17,211 shares in the last quarter. McClarren Financial Advisors Inc. increased its position in shares of 3M by 118.6% during the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 121 shares during the last quarter. Finally, ORG Partners LLC lifted its stake in shares of 3M by 44.1% in the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after acquiring an additional 98 shares in the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Insider Activity

In related news, Chairman Michael F. Roman sold 49,598 shares of 3M stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $152.30, for a total transaction of $7,553,775.40. Following the sale, the chairman now directly owns 180,895 shares in the company, valued at $27,550,308.50. The trade was a 21.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Victoria Clarke sold 1,750 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $154.22, for a total transaction of $269,885.00. Following the completion of the sale, the executive vice president now directly owns 194 shares of the company’s stock, valued at $29,918.68. The trade was a 90.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,639 shares of company stock valued at $17,163,446. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on MMM. JPMorgan Chase & Co. raised their price objective on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Citigroup raised their price target on shares of 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Bank of America upped their price target on shares of 3M from $160.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Mizuho raised their price objective on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Melius upgraded shares of 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, 3M presently has an average rating of “Moderate Buy” and an average price target of $148.87.

3M Trading Up 0.5 %

NYSE:MMM opened at $152.43 on Thursday. The firm has a market capitalization of $83.01 billion, a P/E ratio of 20.19, a P/E/G ratio of 3.37 and a beta of 0.96. The business has a 50 day simple moving average of $135.98 and a 200 day simple moving average of $131.93. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. 3M has a 12-month low of $75.40 and a 12-month high of $155.00.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.02. 3M had a net margin of 15.71% and a return on equity of 100.77%. The company had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same quarter in the previous year, the company posted $2.42 earnings per share. The company’s revenue for the quarter was down 25.0% compared to the same quarter last year. Equities research analysts predict that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th will be paid a $0.73 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.92 annualized dividend and a dividend yield of 1.92%. This is a positive change from 3M’s previous quarterly dividend of $0.70. 3M’s dividend payout ratio (DPR) is presently 37.09%.

3M 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.