Banque Cantonale Vaudoise Sells 7,239 Shares of 3M (NYSE:MMM)

Banque Cantonale Vaudoise trimmed its position in 3M (NYSE:MMM) by 11.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 54,179 shares of the conglomerate’s stock after selling 7,239 shares during the period. Banque Cantonale Vaudoise’s holdings in 3M were worth $7,406,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. increased its position in shares of 3M by 118.6% during the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 121 shares during the last quarter. MFA Wealth Advisors LLC bought a new stake in shares of 3M during the 2nd quarter worth $28,000. Meeder Asset Management Inc. boosted its holdings in shares of 3M by 689.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock worth $31,000 after buying an additional 269 shares during the last quarter. TruNorth Capital Management LLC purchased a new stake in 3M during the second quarter worth about $33,000. Finally, Gradient Investments LLC raised its position in 3M by 44.7% in the second quarter. Gradient Investments LLC now owns 356 shares of the conglomerate’s stock worth $36,000 after acquiring an additional 110 shares during the period. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Stock Performance

Shares of MMM opened at $130.17 on Tuesday. 3M has a 12-month low of $75.40 and a 12-month high of $141.34. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41. The company has a market cap of $70.89 billion, a PE ratio of 16.44, a price-to-earnings-growth ratio of 2.15 and a beta of 0.95. The stock has a 50-day moving average price of $132.84 and a 200-day moving average price of $118.39.

3M (NYSE:MMM) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.05. The business had revenue of $6.29 billion during the quarter, compared to analyst estimates of $6.06 billion. 3M had a net margin of 15.37% and a return on equity of 104.66%. 3M’s revenue for the quarter was down 24.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.68 earnings per share. As a group, equities analysts forecast that 3M will post 7.27 earnings per share for the current fiscal year.

3M Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a yield of 2.15%. 3M’s payout ratio is 35.35%.

Analyst Upgrades and Downgrades

MMM has been the topic of a number of research reports. Melius Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a report on Tuesday, October 22nd. Argus raised 3M from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a report on Tuesday, July 30th. Barclays increased their target price on shares of 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Morgan Stanley assumed coverage on shares of 3M in a research report on Friday, September 6th. They issued an “underweight” rating and a $125.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on shares of 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $144.87.

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.