3M (NYSE:MMM) Shares Sold by Uncommon Cents Investing LLC

Uncommon Cents Investing LLC lessened its position in 3M (NYSE:MMM) by 1.7% in the 4th quarter, Holdings Channel reports. The fund owned 25,259 shares of the conglomerate’s stock after selling 435 shares during the period. Uncommon Cents Investing LLC’s holdings in 3M were worth $3,261,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp lifted its position in 3M by 1.1% in the third quarter. State Street Corp now owns 27,194,612 shares of the conglomerate’s stock valued at $3,717,503,000 after purchasing an additional 302,900 shares during the period. FMR LLC raised its stake in shares of 3M by 88.7% during the 3rd quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock worth $1,225,087,000 after buying an additional 4,212,409 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of 3M by 1.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,815,625 shares of the conglomerate’s stock valued at $521,596,000 after buying an additional 43,942 shares in the last quarter. AQR Capital Management LLC grew its holdings in 3M by 18.6% during the second quarter. AQR Capital Management LLC now owns 2,531,422 shares of the conglomerate’s stock worth $258,686,000 after acquiring an additional 396,773 shares during the period. Finally, National Pension Service raised its position in 3M by 14.5% in the third quarter. National Pension Service now owns 1,268,003 shares of the conglomerate’s stock worth $173,336,000 after acquiring an additional 161,036 shares in the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on MMM shares. Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a research report on Tuesday, October 22nd. Wells Fargo & Company upped their target price on shares of 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Royal Bank of Canada reduced their price target on shares of 3M from $100.00 to $96.00 and set an “underperform” rating for the company in a research report on Friday, January 3rd. JPMorgan Chase & Co. lowered their price target on 3M from $165.00 to $162.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Finally, Barclays reduced their price objective on 3M from $165.00 to $161.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, 3M currently has an average rating of “Moderate Buy” and a consensus target price of $144.13.

3M Stock Performance

Shares of NYSE MMM opened at $141.02 on Monday. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.43 and a quick ratio of 1.08. The company has a market cap of $76.80 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 2.01 and a beta of 0.95. The company has a 50-day simple moving average of $131.24 and a 200-day simple moving average of $127.74. 3M has a 12 month low of $75.40 and a 12 month high of $141.66.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.05. 3M had a return on equity of 104.66% and a net margin of 15.37%. The company had revenue of $6.29 billion during the quarter, compared to the consensus estimate of $6.06 billion. During the same period in the previous year, the firm posted $2.68 EPS. 3M’s revenue was down 24.3% on a year-over-year basis. On average, equities analysts anticipate that 3M will post 7.27 earnings per share for the current year.

3M Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.99%. The ex-dividend date was Friday, November 15th. 3M’s dividend payout ratio (DPR) is 35.35%.

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.