Natixis Advisors LLC Sells 559 Shares of 3M (NYSE:MMM)

Natixis Advisors LLC lessened its position in shares of 3M (NYSE:MMM) by 0.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 153,890 shares of the conglomerate’s stock after selling 559 shares during the period. Natixis Advisors LLC’s holdings in 3M were worth $19,866,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of MMM. FMR LLC increased its holdings in shares of 3M by 88.7% in the 3rd quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock worth $1,225,087,000 after buying an additional 4,212,409 shares during the last quarter. Amundi increased its holdings in shares of 3M by 55.7% in the 4th quarter. Amundi now owns 2,511,095 shares of the conglomerate’s stock worth $337,815,000 after buying an additional 898,244 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of 3M in the 4th quarter worth $103,788,000. Jennison Associates LLC bought a new position in shares of 3M in the 3rd quarter worth $82,208,000. Finally, Parsifal Capital Management LP increased its holdings in shares of 3M by 179.0% in the 3rd quarter. Parsifal Capital Management LP now owns 820,094 shares of the conglomerate’s stock worth $112,107,000 after buying an additional 526,194 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

3M Trading Down 1.7 %

Shares of MMM opened at $150.64 on Wednesday. The stock has a market capitalization of $81.78 billion, a P/E ratio of 19.95, a PEG ratio of 3.30 and a beta of 0.97. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The firm has a fifty day simple moving average of $147.25 and a two-hundred day simple moving average of $137.15. 3M has a twelve month low of $85.62 and a twelve month high of $156.35.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping the consensus estimate of $1.66 by $0.02. 3M had a net margin of 15.71% and a return on equity of 100.77%. The business had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.77 billion. During the same period in the prior year, the business earned $2.42 EPS. The company’s revenue for the quarter was down 25.0% on a year-over-year basis. On average, research analysts anticipate that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th were issued a $0.73 dividend. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a yield of 1.94%. 3M’s dividend payout ratio is 38.68%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on MMM shares. Royal Bank of Canada reissued an “underperform” rating and issued a $96.00 price target on shares of 3M in a report on Thursday, February 27th. Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $140.00 to $170.00 in a report on Wednesday, January 22nd. JPMorgan Chase & Co. upped their price objective on shares of 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Citigroup upped their price objective on shares of 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Finally, Bank of America upped their price objective on shares of 3M from $175.00 to $179.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $149.13.

Insiders Place Their Bets

In related news, insider Christian T. Goralski, Jr. sold 6,318 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $149.43, for a total value of $944,098.74. Following the completion of the transaction, the insider now directly owns 5,024 shares in the company, valued at $750,736.32. This trade represents a 55.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Theresa E. Reinseth sold 2,309 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $149.95, for a total transaction of $346,234.55. Following the completion of the transaction, the chief accounting officer now owns 4,417 shares of the company’s stock, valued at approximately $662,329.15. The trade was a 34.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,639 shares of company stock worth $17,163,446. 0.34% of the stock is currently owned by corporate insiders.

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.