Cwm LLC Trims Stake in 3M (NYSE:MMM)

Cwm LLC cut its stake in 3M (NYSE:MMM) by 2.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,276 shares of the conglomerate’s stock after selling 740 shares during the period. Cwm LLC’s holdings in 3M were worth $3,200,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CGC Financial Services LLC grew its position in 3M by 89.9% in the fourth quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock worth $37,000 after acquiring an additional 160 shares in the last quarter. Briaud Financial Planning Inc bought a new stake in 3M in the third quarter worth $35,000. Authentikos Wealth Advisory LLC bought a new stake in 3M in the third quarter worth $37,000. VisionPoint Advisory Group LLC lifted its stake in 3M by 91.9% in the third quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate’s stock worth $42,000 after purchasing an additional 215 shares during the last quarter. Finally, Psagot Value Holdings Ltd. Israel bought a new stake in 3M in the third quarter worth $44,000. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total transaction of $39,328.32. Following the sale, the insider now owns 3,966 shares in the company, valued at $366,141.12. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.34% of the company’s stock.

3M Trading Down 1.1 %

Shares of MMM opened at $92.02 on Thursday. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.76 and a current ratio of 1.07. 3M has a fifty-two week low of $71.12 and a fifty-two week high of $95.67. The firm’s 50-day simple moving average is $95.72 and its two-hundred day simple moving average is $97.39.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.11. The business had revenue of $8.01 billion for the quarter, compared to analysts’ expectations of $7.69 billion. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The business’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.28 earnings per share. Sell-side analysts forecast that 3M will post 7.87 EPS for the current year.

3M Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 6.56%. The ex-dividend date of this dividend was Thursday, February 15th. This is a boost from 3M’s previous quarterly dividend of $1.50. 3M’s dividend payout ratio is -47.82%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on MMM shares. Bank of America lowered their price target on shares of 3M from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Tuesday, April 2nd. Citigroup boosted their price target on shares of 3M from $95.31 to $98.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. StockNews.com raised shares of 3M from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Wells Fargo & Company lowered their price objective on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 24th. Finally, Mizuho reaffirmed a “neutral” rating and set a $105.00 price objective on shares of 3M in a research note on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $104.00.

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.