3M (NYSE:MMM) Shares Sold by Mizuho Securities Co. Ltd.

Mizuho Securities Co. Ltd. reduced its position in shares of 3M (NYSE:MMM) by 31.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 400 shares of the conglomerate’s stock after selling 180 shares during the period. Mizuho Securities Co. Ltd.’s holdings in 3M were worth $44,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Trilogy Capital Inc. increased its position in shares of 3M by 11.8% during the third quarter. Trilogy Capital Inc. now owns 24,404 shares of the conglomerate’s stock valued at $2,285,000 after acquiring an additional 2,583 shares during the last quarter. Ziegler Capital Management LLC increased its position in shares of 3M by 2.6% during the third quarter. Ziegler Capital Management LLC now owns 19,626 shares of the conglomerate’s stock valued at $1,837,000 after acquiring an additional 491 shares during the last quarter. Advisors Management Group Inc. ADV increased its position in shares of 3M by 4.5% during the third quarter. Advisors Management Group Inc. ADV now owns 12,373 shares of the conglomerate’s stock valued at $1,158,000 after acquiring an additional 531 shares during the last quarter. Riverview Trust Co increased its position in shares of 3M by 81.4% during the third quarter. Riverview Trust Co now owns 1,585 shares of the conglomerate’s stock valued at $148,000 after acquiring an additional 711 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its position in shares of 3M by 265,023.1% during the third quarter. Exchange Traded Concepts LLC now owns 68,932 shares of the conglomerate’s stock valued at $6,453,000 after acquiring an additional 68,906 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on MMM shares. Mizuho reiterated a “neutral” rating and set a $105.00 price target on shares of 3M in a research report on Wednesday, March 27th. Barclays lowered their price objective on shares of 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a research note on Tuesday, April 2nd. Royal Bank of Canada lowered their price objective on shares of 3M from $84.00 to $78.00 and set an “underperform” rating for the company in a research note on Tuesday, April 2nd. 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, JPMorgan Chase & Co. lowered their price objective on shares of 3M from $118.00 to $110.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $104.00.

Insider Transactions at 3M

In other 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 owns 3,966 shares in the company, valued at approximately $366,141.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.38% of the company’s stock.

3M Stock Up 0.4 %

3M stock traded up $0.38 during trading on Tuesday, reaching $93.00. The stock had a trading volume of 3,694,505 shares, compared to its average volume of 5,803,995. 3M has a 52-week low of $71.12 and a 52-week high of $95.67. The business has a 50 day moving average price of $95.73 and a 200 day moving average price of $97.43. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 2.69. The stock has a market cap of $51.46 billion, a PE ratio of -7.36, a P/E/G ratio of 1.63 and a beta of 1.02.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $8.01 billion during the quarter, compared to the consensus estimate of $7.69 billion. During the same quarter in the previous year, the firm earned $2.28 earnings per share. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. On average, analysts predict that 3M will post 8.79 EPS for the current year.

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th were given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 6.49%. The ex-dividend date was Thursday, February 15th. This is an increase from 3M’s previous quarterly dividend of $1.50. 3M’s payout ratio is currently -47.82%.

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.