3M (NYSE:MMM) Holdings Raised by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC increased its stake in 3M (NYSE:MMM) by 81.5% during the fourth quarter, HoldingsChannel reports. The firm owned 363 shares of the conglomerate’s stock after acquiring an additional 163 shares during the period. Catalyst Capital Advisors LLC’s holdings in 3M were worth $47,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. State Street Corp raised its holdings in shares of 3M by 1.1% during the third quarter. State Street Corp now owns 27,194,612 shares of the conglomerate’s stock valued at $3,717,503,000 after acquiring an additional 302,900 shares during the period. FMR LLC grew its position in 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 purchasing an additional 4,212,409 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in 3M by 1.2% during the 3rd 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 during the period. National Pension Service lifted its holdings in shares of 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. Finally, International Assets Investment Management LLC boosted its position in shares of 3M by 11,601.2% in the third quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate’s stock worth $172,416,000 after buying an additional 1,250,491 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Stock Performance

Shares of NYSE MMM opened at $148.85 on Wednesday. The business’s 50-day simple moving average is $139.15 and its 200-day simple moving average is $134.03. 3M has a 52 week low of $75.40 and a 52 week high of $155.00. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The firm has a market cap of $80.81 billion, a price-to-earnings ratio of 19.71, a P/E/G ratio of 3.37 and a beta of 0.96.

3M (NYSE:MMM) last announced 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. 3M had a return on equity of 100.77% and a net margin of 15.71%. The company had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.77 billion. During the same quarter last year, the company posted $2.42 earnings per share. The company’s revenue for the quarter was down 25.0% compared to the same quarter last year. As a group, equities research analysts expect that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th will be given a dividend of $0.73 per share. This is a positive change from 3M’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a yield of 1.96%. 3M’s payout ratio is currently 38.68%.

Insider Buying and Selling at 3M

In other news, Chairman Michael F. Roman sold 49,598 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $152.30, for a total transaction of $7,553,775.40. Following the completion of the transaction, the chairman now directly owns 180,895 shares in the company, valued at $27,550,308.50. The trade was a 21.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Victoria Clarke sold 1,750 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $154.22, for a total transaction of $269,885.00. Following the completion of the sale, the executive vice president now owns 194 shares in the company, valued at approximately $29,918.68. The trade was a 90.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,639 shares of company stock worth $17,163,446 over the last ninety days. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

MMM has been the subject of several research analyst reports. Royal Bank of Canada reissued an “underperform” rating and issued a $96.00 price objective on shares of 3M in a research note on Wednesday, January 22nd. Barclays raised their price target on shares of 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a research note on Tuesday, October 22nd. Bank of America lifted their target price on shares of 3M from $160.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of 3M in a report on Saturday, February 1st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, 3M currently has a consensus rating of “Moderate Buy” and an average target price of $148.87.

3M Company 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.