3M (NYSE:MMM) Holdings Decreased by Marino Stram & Associates LLC

Marino Stram & Associates LLC lowered its position in 3M (NYSE:MMM) by 6.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,043 shares of the conglomerate’s stock after selling 132 shares during the quarter. Marino Stram & Associates LLC’s holdings in 3M were worth $264,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp grew its stake 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 in the last quarter. FMR LLC grew its stake in 3M by 88.7% in the third quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock valued at $1,225,087,000 after purchasing an additional 4,212,409 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in 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 purchasing an additional 43,942 shares in the last quarter. AQR Capital Management LLC grew its stake in 3M by 18.6% in the second quarter. AQR Capital Management LLC now owns 2,531,422 shares of the conglomerate’s stock valued at $258,686,000 after purchasing an additional 396,773 shares in the last quarter. Finally, National Pension Service grew its stake in 3M by 14.5% in the third quarter. National Pension Service now owns 1,268,003 shares of the conglomerate’s stock valued at $173,336,000 after purchasing an additional 161,036 shares in the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Trading Up 1.5 %

3M stock opened at $149.14 on Thursday. The business has a 50 day moving average price of $131.73 and a two-hundred day moving average price of $128.53. 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 stock has a market cap of $81.21 billion, a price-to-earnings ratio of 19.75, a price-to-earnings-growth ratio of 2.42 and a beta of 0.95. 3M has a 12 month low of $75.40 and a 12 month high of $152.08.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, beating the consensus estimate of $1.66 by $0.02. The firm had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5,770,390 billion. 3M had a return on equity of 97.19% and a net margin of 15.71%. The company’s revenue for the quarter was down 25.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.42 EPS. As a group, equities analysts forecast that 3M will post 7.66 EPS for the current year.

3M Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.88%. 3M’s payout ratio is presently 37.09%.

Analyst Upgrades and Downgrades

MMM has been the subject of several recent analyst reports. Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $140.00 to $170.00 in a research note on Wednesday. Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a research note on Tuesday, October 22nd. UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and upped their price target for the stock from $130.00 to $184.00 in a research note on Wednesday, November 13th. Melius upgraded 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Finally, Barclays upped their price target on 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday. Two 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. Based on data from MarketBeat, 3M currently has an average rating of “Moderate Buy” and a consensus target price of $148.87.

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.