Bremer Bank National Association Has $303,000 Holdings in 3M (NYSE:MMM)

Bremer Bank National Association cut its stake in shares of 3M (NYSE:MMM) by 4.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,351 shares of the conglomerate’s stock after selling 102 shares during the period. Bremer Bank National Association’s holdings in 3M were worth $303,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. American Century Companies Inc. increased its holdings in shares of 3M by 0.8% during the second quarter. American Century Companies Inc. now owns 82,161 shares of the conglomerate’s stock worth $8,396,000 after purchasing an additional 650 shares during the period. Intech Investment Management LLC increased its holdings in shares of 3M by 17.6% during the second quarter. Intech Investment Management LLC now owns 34,758 shares of the conglomerate’s stock worth $3,552,000 after purchasing an additional 5,205 shares during the period. Canada Pension Plan Investment Board increased its holdings in shares of 3M by 7.5% during the second quarter. Canada Pension Plan Investment Board now owns 489,502 shares of the conglomerate’s stock worth $50,022,000 after purchasing an additional 34,081 shares during the period. AE Wealth Management LLC increased its holdings in shares of 3M by 6.9% during the second quarter. AE Wealth Management LLC now owns 24,322 shares of the conglomerate’s stock worth $2,485,000 after purchasing an additional 1,565 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ increased its holdings in shares of 3M by 1.7% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 115,605 shares of the conglomerate’s stock worth $11,814,000 after purchasing an additional 1,949 shares during the period. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MMM. Melius raised shares of 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Royal Bank of Canada lowered their target price on shares of 3M from $100.00 to $96.00 and set an “underperform” rating on the stock in a report on Friday, January 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of 3M in a research note on Saturday. Mizuho lifted their price objective on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of 3M from $165.00 to $162.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.13.

3M Stock Performance

Shares of 3M stock opened at $141.02 on Monday. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $141.66. 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 firm has a market capitalization of $76.80 billion, a P/E ratio of 17.81, a P/E/G ratio of 2.01 and a beta of 0.95. The company’s 50 day moving average price is $131.24 and its two-hundred day moving average price is $127.74.

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

3M Dividend Announcement

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