Bank Julius Baer & Co. Ltd Zurich Raises Position in 3M (NYSE:MMM)

Bank Julius Baer & Co. Ltd Zurich raised its holdings in 3M (NYSE:MMM) by 0.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,768 shares of the conglomerate’s stock after buying an additional 164 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in 3M were worth $4,566,000 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. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of 3M by 15.4% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 110,988 shares of the conglomerate’s stock valued at $10,391,000 after purchasing an additional 14,775 shares in the last quarter. Shoker Investment Counsel Inc. raised its holdings in shares of 3M by 49.7% in the 3rd quarter. Shoker Investment Counsel Inc. now owns 16,747 shares of the conglomerate’s stock valued at $1,568,000 after purchasing an additional 5,561 shares in the last quarter. Diversified Trust Co raised its holdings in shares of 3M by 1.4% in the 4th quarter. Diversified Trust Co now owns 18,487 shares of the conglomerate’s stock valued at $2,021,000 after purchasing an additional 263 shares in the last quarter. MWA Asset Management acquired a new stake in shares of 3M in the 4th quarter valued at $1,723,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of 3M in the 3rd quarter valued at $11,908,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Analyst Ratings Changes

MMM has been the topic of several research analyst reports. Bank of America cut their price target on shares of 3M from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 2nd. Citigroup lifted 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 upgraded shares of 3M from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Wells Fargo & Company dropped their price objective on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 24th. Finally, Barclays cut their target price on shares of 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $104.00.

3M Stock Performance

Shares of MMM stock opened at $91.80 on Friday. 3M has a one year low of $71.12 and a one year high of $95.67. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.76 and a current ratio of 1.07. The company has a 50 day moving average price of $95.71 and a 200 day moving average price of $97.37. The firm has a market capitalization of $50.80 billion, a price-to-earnings ratio of -7.27, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 EPS for the quarter, topping the consensus estimate of $2.31 by $0.11. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The firm had revenue of $8.01 billion during the quarter, compared to analyst estimates of $7.69 billion. During the same quarter in the prior year, the business posted $2.28 earnings per share. 3M’s revenue for the quarter was down 1.1% compared to the same quarter last year. Sell-side analysts anticipate that 3M will post 8.19 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 paid a dividend of $1.51 per share. This is an increase from 3M’s previous quarterly dividend of $1.50. This represents a $6.04 annualized dividend and a yield of 6.58%. The ex-dividend date was Thursday, February 15th. 3M’s payout ratio is currently -47.82%.

Insiders Place Their Bets

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the business’s 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 completion of the sale, the insider now directly owns 3,966 shares in the company, valued at $366,141.12. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.34% of the stock is owned by 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.