Capital Investment Advisors LLC Trims Stake in 3M (NYSE:MMM)

Capital Investment Advisors LLC decreased its holdings in shares of 3M (NYSE:MMM) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 69,352 shares of the conglomerate’s stock after selling 2,339 shares during the period. Capital Investment Advisors LLC’s holdings in 3M were worth $8,953,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MMM. Clark & Stuart Inc purchased a new position in 3M in the 4th quarter worth $9,553,000. Matrix Trust Co grew its holdings in 3M by 602.9% during the fourth quarter. Matrix Trust Co now owns 738 shares of the conglomerate’s stock valued at $95,000 after purchasing an additional 633 shares during the period. Aprio Wealth Management LLC lifted its position in shares of 3M by 19.1% in the fourth quarter. Aprio Wealth Management LLC now owns 3,195 shares of the conglomerate’s stock valued at $412,000 after acquiring an additional 513 shares in the last quarter. Czech National Bank increased its holdings in 3M by 5.5% in the 4th quarter. Czech National Bank now owns 118,072 shares of the conglomerate’s stock valued at $15,242,000 after acquiring an additional 6,163 shares during the last quarter. Finally, RMR Wealth Builders lifted its position in 3M by 10.5% during the fourth quarter. RMR Wealth Builders now owns 12,982 shares of the conglomerate’s stock valued at $1,676,000 after purchasing an additional 1,232 shares during the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

3M Stock Performance

3M stock traded up $1.20 on Monday, hitting $132.41. The company’s stock had a trading volume of 833,766 shares, compared to its average volume of 3,145,229. The company has a fifty day moving average price of $130.51 and a 200-day moving average price of $126.65. 3M has a one year low of $75.40 and a one year high of $141.34. The firm has a market cap of $72.11 billion, a P/E ratio of 16.72, a price-to-earnings-growth ratio of 2.15 and a beta of 0.95. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41.

3M (NYSE:MMM) last announced its quarterly earnings data 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 net margin of 15.37% and a return on equity of 104.66%. The business had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.06 billion. During the same period in the prior year, the business posted $2.68 earnings per share. 3M’s revenue was down 24.3% compared to the same quarter last year. On average, equities analysts anticipate that 3M will post 7.27 earnings per share for the current year.

3M Dividend Announcement

The company also recently announced 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. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Friday, November 15th. 3M’s dividend payout ratio is currently 35.35%.

Wall Street Analysts Forecast Growth

MMM has been the subject of several analyst reports. Barclays decreased their price objective on shares of 3M from $165.00 to $161.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Melius raised shares of 3M from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Melius Research raised 3M from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a report on Tuesday, October 22nd. JPMorgan Chase & Co. increased their target price on 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Finally, Royal Bank of Canada reduced their target price on 3M from $100.00 to $96.00 and set an “underperform” rating for the company in a report on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $144.33.

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.