3M (NYSE:MMM) Stock Holdings Decreased by National Bank of Canada FI

National Bank of Canada FI reduced its position in 3M (NYSE:MMM) by 38.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 413,864 shares of the conglomerate’s stock after selling 259,817 shares during the quarter. National Bank of Canada FI’s holdings in 3M were worth $53,429,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Financial Life Planners bought a new stake in shares of 3M in the 4th quarter valued at approximately $25,000. Proficio Capital Partners LLC bought a new stake in 3M during the fourth quarter valued at $26,000. Hazlett Burt & Watson Inc. acquired a new stake in shares of 3M during the fourth quarter worth $27,000. Daymark Wealth Partners LLC lifted its position in shares of 3M by 9.0% in the 4th quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate’s stock worth $31,000 after buying an additional 19,552 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its holdings in shares of 3M by 230.1% in the 4th quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate’s stock valued at $40,000 after buying an additional 214 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on MMM shares. Royal Bank of Canada reissued an “underperform” rating and issued a $96.00 target price on shares of 3M in a report on Thursday, February 27th. Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. raised their target price on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Barclays upped their price target on shares of 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of 3M in a research note on Saturday, March 22nd. Two investment 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.com, 3M presently has an average rating of “Moderate Buy” and a consensus target price of $149.13.

3M Price Performance

MMM opened at $147.74 on Wednesday. The firm has a market capitalization of $79.68 billion, a P/E ratio of 19.57, a PEG ratio of 3.30 and a beta of 0.97. The stock has a fifty day moving average of $149.73 and a 200-day moving average of $138.49. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. 3M has a 12-month low of $89.54 and a 12-month high of $156.35.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. The firm had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. The business’s quarterly revenue was down 25.0% compared to the same quarter last year. During the same period last year, the company posted $2.42 EPS. Equities analysts forecast that 3M will post 7.8 EPS for the current fiscal 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 paid a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 1.98%. 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. 3M’s dividend payout ratio is currently 38.68%.

Insiders Place Their Bets

In other news, EVP Victoria Clarke sold 1,750 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $154.22, for a total value of $269,885.00. Following the transaction, the executive vice president now directly owns 194 shares of the company’s stock, valued at approximately $29,918.68. This represents a 90.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Michael F. Roman sold 49,598 shares of 3M stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $152.30, for a total value of $7,553,775.40. Following the sale, the chairman now directly owns 180,895 shares of the company’s stock, valued at approximately $27,550,308.50. The trade was a 21.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,639 shares of company stock worth $17,163,446 in the last quarter. 0.34% of the stock is currently owned by corporate insiders.

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.