Caldwell Sutter Capital Inc. Reduces Stock Position in 3M (NYSE:MMM)

Caldwell Sutter Capital Inc. trimmed its holdings in shares of 3M (NYSE:MMM) by 3.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,075 shares of the conglomerate’s stock after selling 156 shares during the quarter. Caldwell Sutter Capital Inc.’s holdings in 3M were worth $526,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. FSA Wealth Management LLC purchased a new stake in 3M in the third quarter worth $27,000. Daymark Wealth Partners LLC grew its holdings in shares of 3M by 8.6% in the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 17,211 shares during the last quarter. McClarren Financial Advisors Inc. increased its stake in 3M by 118.6% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after buying an additional 121 shares during the period. ORG Partners LLC boosted its position in 3M by 44.1% in the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after buying an additional 98 shares during the period. Finally, True Wealth Design LLC grew its stake in 3M by 2,466.7% in the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock worth $42,000 after acquiring an additional 296 shares in the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on MMM. Citigroup lifted their price objective on shares of 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a report on Wednesday. Royal Bank of Canada reissued an “underperform” rating and issued a $96.00 price target on shares of 3M in a research report on Wednesday. Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a research note on Tuesday, October 22nd. UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and lifted their target price for the company from $130.00 to $184.00 in a research note on Wednesday, November 13th. Finally, Wells Fargo & Company raised shares of 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. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, 3M presently has an average rating of “Moderate Buy” and a consensus price target of $148.87.

3M Stock Up 0.4 %

NYSE:MMM opened at $149.64 on Friday. 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 company’s fifty day moving average price is $132.09 and its 200-day moving average price is $128.67. 3M has a 1-year low of $75.40 and a 1-year high of $152.08. The firm has a market capitalization of $81.49 billion, a P/E ratio of 19.82, a PEG ratio of 2.46 and a beta of 0.95.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The business had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5,770,390 billion. During the same quarter last year, the business posted $2.42 EPS. The company’s revenue was down 25.0% on a year-over-year basis. As a group, equities research analysts anticipate that 3M will post 7.66 EPS for the current year.

3M Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend was Friday, November 15th. 3M’s dividend payout ratio is currently 37.09%.

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.