Mutual of America Capital Management LLC Sells 2,152 Shares of 3M (NYSE:MMM)

Mutual of America Capital Management LLC cut its stake in shares of 3M (NYSE:MMM) by 3.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,660 shares of the conglomerate’s stock after selling 2,152 shares during the period. Mutual of America Capital Management LLC’s holdings in 3M were worth $9,249,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in MMM. Capital World Investors acquired a new stake in 3M during the 1st quarter worth approximately $165,986,000. International Assets Investment Management LLC lifted its holdings in shares of 3M by 11,601.2% during the third quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate’s stock worth $172,416,000 after buying an additional 1,250,491 shares in the last quarter. National Bank of Canada FI boosted its position in shares of 3M by 218.3% in the first quarter. National Bank of Canada FI now owns 1,489,351 shares of the conglomerate’s stock valued at $147,344,000 after acquiring an additional 1,021,440 shares during the period. Janus Henderson Group PLC grew its stake in shares of 3M by 1,015.6% in the first quarter. Janus Henderson Group PLC now owns 888,564 shares of the conglomerate’s stock valued at $94,247,000 after acquiring an additional 808,914 shares in the last quarter. Finally, Electron Capital Partners LLC bought a new position in 3M during the second quarter worth about $76,732,000. Institutional investors own 65.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on MMM shares. Melius Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a report on Tuesday, October 22nd. Argus upgraded 3M from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a research note on Tuesday, July 30th. Wells Fargo & Company increased their target price on 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. StockNews.com downgraded 3M from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Melius raised shares of 3M from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $144.87.

3M Trading Down 1.9 %

Shares of MMM stock opened at $129.79 on Monday. 3M has a twelve month low of $75.40 and a twelve month high of $141.34. The stock’s fifty day simple moving average is $132.80 and its 200 day simple moving average is $118.15. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41. The firm has a market capitalization of $70.68 billion, a P/E ratio of 16.39, a P/E/G ratio of 2.15 and a beta of 0.95.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.05. 3M had a return on equity of 104.66% and a net margin of 15.37%. The firm had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.06 billion. During the same period last year, the firm posted $2.68 earnings per share. The business’s revenue for the quarter was down 24.3% on a year-over-year basis. As a group, sell-side analysts predict that 3M will post 7.27 EPS for the current fiscal year.

3M Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.16%. The ex-dividend date is Friday, November 15th. 3M’s dividend payout ratio (DPR) is currently 35.35%.

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.