Pathstone Holdings LLC Sells 5,702 Shares of 3M (NYSE:MMM)

Pathstone Holdings LLC reduced its position in 3M (NYSE:MMM) by 7.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,441 shares of the conglomerate’s stock after selling 5,702 shares during the period. Pathstone Holdings LLC’s holdings in 3M were worth $8,836,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Financial Life Planners bought a new position in shares of 3M in the 4th quarter worth $25,000. Hazlett Burt & Watson Inc. purchased a new stake in 3M in the 4th quarter valued at $27,000. Meeder Asset Management Inc. raised its position in 3M by 230.1% in the 4th quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate’s stock valued at $40,000 after buying an additional 214 shares during the last quarter. Catalyst Capital Advisors LLC raised its position in 3M by 81.5% in the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the conglomerate’s stock valued at $47,000 after buying an additional 163 shares during the last quarter. Finally, Greenline Partners LLC purchased a new stake in 3M in the 4th quarter valued at $50,000. 65.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MMM shares. Wells Fargo & Company raised 3M from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Citigroup lowered their price target on 3M from $152.00 to $142.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. increased their price target on 3M from $140.00 to $167.00 and gave the company an “overweight” rating in a research report on Friday. Bank of America increased their price target on 3M from $175.00 to $179.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Finally, Royal Bank of Canada raised their target price on 3M from $98.00 to $100.00 and gave the company an “underperform” rating in a research report on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $152.08.

3M Trading Up 2.9%

Shares of MMM opened at $153.11 on Friday. The business has a 50-day moving average of $141.60 and a 200 day moving average of $139.32. 3M has a fifty-two week low of $96.76 and a fifty-two week high of $156.35. The firm has a market cap of $82.40 billion, a P/E ratio of 20.28, a price-to-earnings-growth ratio of 3.30 and a beta of 1.02. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.11. 3M had a return on equity of 100.77% and a net margin of 15.71%. The company had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.78 billion. As a group, research analysts forecast that 3M will post 7.8 EPS for the current year.

3M Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be issued a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 1.91%. 3M’s dividend payout ratio (DPR) is currently 36.87%.

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.