Investment House LLC Has $722,000 Stock Holdings in 3M (NYSE:MMM)

Investment House LLC decreased its stake in shares of 3M (NYSE:MMM) by 3.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,608 shares of the conglomerate’s stock after selling 217 shares during the quarter. Investment House LLC’s holdings in 3M were worth $722,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of 3M by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 49,033,679 shares of the conglomerate’s stock worth $4,590,533,000 after purchasing an additional 317,483 shares during the last quarter. Invesco Ltd. increased its position in 3M by 2.4% during the third quarter. Invesco Ltd. now owns 4,082,950 shares of the conglomerate’s stock worth $382,246,000 after buying an additional 94,864 shares during the last quarter. Nuance Investments LLC raised its stake in 3M by 10.1% in the third quarter. Nuance Investments LLC now owns 4,062,557 shares of the conglomerate’s stock valued at $380,337,000 after buying an additional 371,935 shares during the period. Pacer Advisors Inc. raised its stake in 3M by 1,273.9% in the fourth quarter. Pacer Advisors Inc. now owns 3,783,726 shares of the conglomerate’s stock valued at $413,637,000 after buying an additional 3,508,334 shares during the period. Finally, Van ECK Associates Corp lifted its position in shares of 3M by 20.8% in the third quarter. Van ECK Associates Corp now owns 2,944,135 shares of the conglomerate’s stock valued at $275,630,000 after buying an additional 506,654 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Insider Buying and Selling at 3M

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total transaction of $39,328.32. Following the sale, the insider now directly owns 3,966 shares of the company’s stock, valued at approximately $366,141.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.38% of the company’s stock.

3M Stock Up 5.8 %

Shares of MMM opened at $97.50 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 2.69. 3M has a 12 month low of $71.12 and a 12 month high of $97.50. The firm’s 50 day moving average is $95.73 and its 200-day moving average is $97.49. The stock has a market capitalization of $53.95 billion, a PE ratio of -7.30, a P/E/G ratio of 1.74 and a beta of 1.02.

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 6.19%. The ex-dividend date was Thursday, February 15th. This is a positive change from 3M’s previous quarterly dividend of $1.50. 3M’s dividend payout ratio (DPR) is -47.82%.

Analysts Set New Price Targets

A number of research firms recently weighed in on MMM. Barclays decreased their target price on 3M from $126.00 to $107.00 and set an “overweight” rating on the stock in a report on Tuesday, April 2nd. Bank of America decreased their price objective on shares of 3M from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Tuesday, April 2nd. Wells Fargo & Company cut their target price on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 24th. JPMorgan Chase & Co. decreased their price target on shares of 3M from $118.00 to $110.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Finally, StockNews.com raised shares of 3M from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $104.00.

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.