Standard Life Aberdeen plc Sells 13,906 Shares of 3M Co (NYSE:MMM)

Standard Life Aberdeen plc cut its stake in 3M Co (NYSE:MMM) by 5.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 249,170 shares of the conglomerate’s stock after selling 13,906 shares during the period. Standard Life Aberdeen plc’s holdings in 3M were worth $43,958,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of MMM. State Street Corp increased its position in 3M by 0.3% during the fourth quarter. State Street Corp now owns 42,314,221 shares of the conglomerate’s stock worth $7,465,075,000 after buying an additional 134,874 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of 3M by 10.1% during the 4th quarter. Bank of New York Mellon Corp now owns 6,014,963 shares of the conglomerate’s stock worth $1,061,158,000 after acquiring an additional 550,844 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in 3M by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,665,954 shares of the conglomerate’s stock valued at $823,168,000 after acquiring an additional 108,982 shares during the period. Jensen Investment Management Inc. raised its stake in 3M by 9.3% in the 4th quarter. Jensen Investment Management Inc. now owns 3,077,927 shares of the conglomerate’s stock valued at $543,008,000 after acquiring an additional 260,650 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in 3M by 7.3% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,845,068 shares of the conglomerate’s stock valued at $501,927,000 after acquiring an additional 194,244 shares during the period. 68.19% of the stock is owned by institutional investors.

NYSE MMM traded up $4.64 during trading on Thursday, reaching $136.18. The company’s stock had a trading volume of 6,716,413 shares, compared to its average volume of 4,812,421. The firm has a 50 day moving average price of $149.59 and a 200 day moving average price of $164.42. 3M Co has a 12 month low of $114.04 and a 12 month high of $219.75. The firm has a market capitalization of $76.32 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 1.55 and a beta of 1.08. The company has a current ratio of 1.41, a quick ratio of 0.96 and a debt-to-equity ratio of 1.79.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, January 28th. The conglomerate reported $1.95 earnings per share for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.15). 3M had a net margin of 14.22% and a return on equity of 51.39%. The business had revenue of $8.11 billion during the quarter, compared to analyst estimates of $8.12 billion. During the same quarter in the previous year, the firm posted $2.31 earnings per share. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities analysts forecast that 3M Co will post 9 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Friday, February 14th were given a $1.47 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.32%. This is a boost from 3M’s previous quarterly dividend of $1.44. 3M’s dividend payout ratio (DPR) is presently 64.62%.

In other 3M news, SVP Ty R. Silberhorn sold 1,967 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $158.19, for a total transaction of $311,159.73. Following the completion of the sale, the senior vice president now directly owns 3,849 shares in the company, valued at $608,873.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael F. Roman sold 8,906 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $162.00, for a total value of $1,442,772.00. Following the completion of the sale, the chief executive officer now directly owns 48,152 shares in the company, valued at approximately $7,800,624. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,123 shares of company stock valued at $2,748,744. 0.83% of the stock is owned by insiders.

MMM has been the subject of a number of research analyst reports. Morgan Stanley reduced their price objective on shares of 3M from $175.00 to $156.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 17th. Zacks Investment Research upgraded shares of 3M from a “sell” rating to a “hold” rating and set a $179.00 target price for the company in a research note on Tuesday, December 10th. UBS Group downgraded shares of 3M from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $180.00 to $160.00 in a report on Thursday, December 12th. Citigroup decreased their price target on shares of 3M from $180.00 to $176.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. raised shares of 3M from an “underweight” rating to a “neutral” rating and increased their price target for the company from $143.00 to $150.00 in a report on Monday, December 23rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $172.33.

3M Company Profile

3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, abrasion-resistant films, and paint finishing and detailing products.

Featured Story: Pattern Day Trader

Want to see what other hedge funds are holding MMM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for 3M Co (NYSE:MMM).

Institutional Ownership by Quarter for 3M (NYSE:MMM)

Receive News & Ratings for 3M Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 3M and related companies with MarketBeat.com's FREE daily email newsletter.