NTV Asset Management LLC Raises Stock Position in 3M (NYSE:MMM)

NTV Asset Management LLC grew its holdings in 3M (NYSE:MMM) by 42.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,626 shares of the conglomerate’s stock after acquiring an additional 780 shares during the period. NTV Asset Management LLC’s holdings in 3M were worth $339,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp lifted its stake in 3M by 1.1% in the 3rd quarter. State Street Corp now owns 27,194,612 shares of the conglomerate’s stock worth $3,717,503,000 after purchasing an additional 302,900 shares in the last quarter. FMR LLC lifted its position in shares of 3M by 88.7% in the third quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock worth $1,225,087,000 after buying an additional 4,212,409 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in 3M by 1.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,815,625 shares of the conglomerate’s stock valued at $521,596,000 after buying an additional 43,942 shares during the last quarter. National Pension Service grew its holdings in 3M by 14.5% during the 3rd quarter. National Pension Service now owns 1,268,003 shares of the conglomerate’s stock valued at $173,336,000 after buying an additional 161,036 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in 3M by 11,601.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate’s stock worth $172,416,000 after acquiring an additional 1,250,491 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on MMM shares. Barclays raised their target price on shares of 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Melius raised shares of 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Weiss Ratings restated a “hold (c)” rating on shares of 3M in a research report on Saturday, February 1st. Citigroup lifted their price target on 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Finally, Melius Research upgraded 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. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, 3M has a consensus rating of “Moderate Buy” and an average target price of $148.87.

3M Trading Down 0.0 %

Shares of MMM opened at $148.65 on Tuesday. The firm has a market capitalization of $80.70 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 3.37 and a beta of 0.96. 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 1-year low of $75.40 and a 1-year high of $155.00. The company has a 50-day moving average of $138.80 and a 200 day moving average of $133.88.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share 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 firm 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 firm posted $2.42 earnings per share. The company’s revenue was down 25.0% on a year-over-year basis. On average, research analysts expect 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. Stockholders of record on Friday, February 14th will be paid a dividend of $0.73 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.92 annualized dividend and a dividend yield of 1.96%. This is a positive change from 3M’s previous quarterly dividend of $0.70. 3M’s dividend payout ratio (DPR) is currently 37.09%.

Insider Activity at 3M

In other news, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $150.25, for a total transaction of $247,161.25. Following the transaction, the insider now directly owns 5,153 shares in the company, valued at approximately $774,238.25. This trade represents a 24.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Michael F. Roman sold 49,598 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $152.30, for a total transaction of $7,553,775.40. Following the completion of the transaction, the chairman now directly owns 180,895 shares of the company’s stock, valued at $27,550,308.50. This trade represents a 21.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,639 shares of company stock worth $17,163,446 over the last three months. 0.34% of the stock is owned by corporate insiders.

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.