3M (NYSE:MMM) Stock Holdings Decreased by Synergy Asset Management LLC

Synergy Asset Management LLC lessened its position in 3M (NYSE:MMM) by 3.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,026 shares of the conglomerate’s stock after selling 79 shares during the quarter. Synergy Asset Management LLC’s holdings in 3M were worth $263,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MMM. State Street Corp boosted its position in shares of 3M by 1.1% in the third quarter. State Street Corp now owns 27,194,612 shares of the conglomerate’s stock worth $3,717,503,000 after buying an additional 302,900 shares during the period. 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 valued at $1,225,087,000 after purchasing an additional 4,212,409 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of 3M by 1.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,815,625 shares of the conglomerate’s stock worth $521,596,000 after purchasing an additional 43,942 shares in the last quarter. National Pension Service boosted its holdings in shares of 3M by 14.5% during the third quarter. National Pension Service now owns 1,268,003 shares of the conglomerate’s stock worth $173,336,000 after purchasing an additional 161,036 shares during the period. Finally, International Assets Investment Management LLC grew its position in 3M by 11,601.2% during the third quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate’s stock valued at $172,416,000 after purchasing an additional 1,250,491 shares in the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at 3M

In other 3M news, insider Christian T. Goralski, Jr. sold 6,318 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $149.43, for a total value of $944,098.74. Following the completion of the sale, the insider now owns 5,024 shares in the company, valued at approximately $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 can be accessed through the SEC website. Also, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the business’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $150.25, for a total transaction of $247,161.25. Following the completion of the sale, the insider now directly owns 5,153 shares in the company, valued at $774,238.25. This trade represents a 24.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 111,889 shares of company stock valued at $16,893,561 in the last ninety days. Company insiders own 0.34% of the company’s stock.

3M Stock Up 1.8 %

3M stock opened at $154.31 on Friday. The firm has a market cap of $84.03 billion, a price-to-earnings ratio of 20.44, a P/E/G ratio of 2.46 and a beta of 0.95. The firm has a fifty day moving average price of $134.20 and a two-hundred day moving average price of $130.37. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $154.65. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08.

3M (NYSE:MMM) last announced its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.02. The firm had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. The firm’s revenue for the quarter was down 25.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.42 EPS. As a group, analysts forecast that 3M will post 7.66 earnings per share for the current year.

3M Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date was Friday, November 15th. 3M’s dividend payout ratio (DPR) is currently 37.09%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MMM shares. Bank of America increased their target price on shares of 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Melius raised 3M from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. UBS Group raised 3M from a “neutral” rating to a “buy” rating and upped their target price for the stock from $130.00 to $184.00 in a research report on Wednesday, November 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of 3M in a report on Saturday, January 18th. Finally, Mizuho raised their price objective on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, 3M presently has an average rating of “Moderate Buy” and a consensus price target of $148.87.

About 3M

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.