Vident Advisory LLC Cuts Stock Position in 3M (NYSE:MMM)

Vident Advisory LLC decreased its holdings in 3M (NYSE:MMM) by 4.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,066 shares of the conglomerate’s stock after selling 2,097 shares during the quarter. Vident Advisory LLC’s holdings in 3M were worth $5,560,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of MMM. Investors Asset Management of Georgia Inc. GA ADV lifted its holdings in 3M by 1.3% in the fourth quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,377 shares of the conglomerate’s stock worth $694,000 after purchasing an additional 67 shares during the period. Parkside Financial Bank & Trust increased its holdings in shares of 3M by 1.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 5,153 shares of the conglomerate’s stock valued at $665,000 after buying an additional 70 shares in the last quarter. LaSalle St. Investment Advisors LLC lifted its holdings in shares of 3M by 2.5% during the fourth quarter. LaSalle St. Investment Advisors LLC now owns 2,951 shares of the conglomerate’s stock valued at $381,000 after purchasing an additional 71 shares during the last quarter. Gilbert & Cook Inc. increased its position in shares of 3M by 1.5% in the fourth quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate’s stock worth $659,000 after acquiring an additional 73 shares in the last quarter. Finally, Childress Capital Advisors LLC raised its stake in 3M by 5.1% during the 4th quarter. Childress Capital Advisors LLC now owns 1,573 shares of the conglomerate’s stock valued at $203,000 after purchasing an additional 76 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

Analyst Upgrades and Downgrades

MMM has been the subject of a number of research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of 3M in a research report on Saturday, May 10th. Barclays upped their target price on shares of 3M from $160.00 to $164.00 and gave the company an “overweight” rating in a research note on Wednesday, April 23rd. Citigroup reduced their target price on 3M from $152.00 to $142.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Bank of America increased their target price on 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Finally, Royal Bank of Canada upped their price objective on shares of 3M from $98.00 to $100.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $152.08.

3M Price Performance

Shares of NYSE MMM opened at $154.11 on Tuesday. 3M has a fifty-two week low of $96.76 and a fifty-two week high of $156.35. The stock has a market capitalization of $82.94 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 3.30 and a beta of 1.02. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The business has a 50-day moving average of $141.68 and a 200-day moving average of $139.66.

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

3M Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be paid a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 1.89%. 3M’s dividend payout ratio (DPR) is presently 36.87%.

Insider Activity at 3M

In other news, EVP Zoe L. Dickson sold 7,915 shares of the firm’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $149.02, for a total transaction of $1,179,493.30. Following the completion of the transaction, the executive vice president now owns 6,127 shares of the company’s stock, valued at approximately $913,045.54. This trade represents a 56.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.34% of the stock is currently owned by 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.