3M (NYSE:MMM) Stock Position Decreased by Marino Stram & Associates LLC

Marino Stram & Associates LLC decreased its stake in shares of 3M (NYSE:MMM) by 20.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,486 shares of the conglomerate’s stock after selling 625 shares during the period. Marino Stram & Associates LLC’s holdings in 3M were worth $272,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Markel Corp grew its holdings in 3M by 6.5% in the 1st quarter. Markel Corp now owns 269,750 shares of the conglomerate’s stock valued at $40,161,000 after buying an additional 16,550 shares during the last quarter. Axiom Financial Strategies LLC grew its holdings in 3M by 5.3% in the 1st quarter. Axiom Financial Strategies LLC now owns 6,513 shares of the conglomerate’s stock valued at $942,000 after buying an additional 326 shares during the last quarter. Dakota Wealth Management acquired a new stake in 3M in the 1st quarter valued at approximately $246,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of 3M by 17.6% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,532 shares of the conglomerate’s stock worth $972,000 after purchasing an additional 977 shares in the last quarter. Finally, Covestor Ltd grew its holdings in shares of 3M by 73.0% during the 1st quarter. Covestor Ltd now owns 1,275 shares of the conglomerate’s stock worth $190,000 after purchasing an additional 538 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Insider Buying and Selling at 3M

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total value of $39,328.32. Following the completion of the transaction, the insider now directly owns 3,966 shares of the company’s stock, valued at $366,141.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.38% of the company’s stock.

3M Trading Down 0.5 %

Shares of 3M stock traded down $0.47 during trading on Tuesday, reaching $90.83. 1,509,623 shares of the company were exchanged, compared to its average volume of 5,949,054. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 2.69. 3M has a twelve month low of $71.12 and a twelve month high of $95.67. The business has a 50-day moving average price of $95.92 and a 200-day moving average price of $97.32. The firm has a market capitalization of $50.26 billion, a price-to-earnings ratio of -7.15, a P/E/G ratio of 1.61 and a beta of 1.02.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.11. 3M had a positive return on equity of 62.45% and a negative net margin of 21.40%. The business had revenue of $8.01 billion during the quarter, compared to analysts’ expectations of $7.69 billion. During the same period in the previous year, the firm earned $2.28 earnings per share. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. Sell-side analysts anticipate that 3M will post 8.79 EPS for the current fiscal year.

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 16th were paid a dividend of $1.51 per share. The ex-dividend date was Thursday, February 15th. This is a boost from 3M’s previous quarterly dividend of $1.50. This represents a $6.04 dividend on an annualized basis and a dividend yield of 6.65%. 3M’s payout ratio is -47.82%.

Analysts Set New Price Targets

Several analysts have recently weighed in on MMM shares. Barclays decreased their price objective on 3M from $126.00 to $107.00 and set an “overweight” rating on the stock in a report on Tuesday, April 2nd. Wells Fargo & Company decreased their price objective on 3M from $112.00 to $105.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 24th. Royal Bank of Canada cut their target price on 3M from $84.00 to $78.00 and set an “underperform” rating for the company in a research report on Tuesday, April 2nd. StockNews.com began coverage on 3M in a research report on Thursday, April 4th. They set a “buy” rating for the company. Finally, Citigroup raised their target price on 3M from $95.31 to $98.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $103.50.

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.