Todd Asset Management LLC Sells 5,141 Shares of 3M (NYSE:MMM)

Todd Asset Management LLC lowered its stake in shares of 3M (NYSE:MMM) by 63.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,940 shares of the conglomerate’s stock after selling 5,141 shares during the quarter. Todd Asset Management LLC’s holdings in 3M were worth $321,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Briaud Financial Planning Inc bought a new stake in 3M during the third quarter worth $35,000. Authentikos Wealth Advisory LLC bought a new position in 3M in the 3rd quarter valued at $37,000. CGC Financial Services LLC grew its stake in 3M by 89.9% in the 4th quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock valued at $37,000 after purchasing an additional 160 shares during the period. VisionPoint Advisory Group LLC grew its stake in 3M by 91.9% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate’s stock valued at $42,000 after purchasing an additional 215 shares during the period. Finally, Psagot Value Holdings Ltd. Israel bought a new position in 3M in the 3rd quarter valued at $44,000. Institutional investors own 65.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on MMM shares. StockNews.com upgraded 3M from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 25th. Citigroup increased their price target on 3M from $98.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday. Mizuho reiterated a “neutral” rating and set a $105.00 price target on shares of 3M in a research note on Wednesday, March 27th. JPMorgan Chase & Co. upgraded 3M from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $110.00 to $111.00 in a research note on Wednesday. Finally, Bank of America cut their price target on 3M from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $103.70.

3M Price Performance

MMM traded up $0.34 during trading on Friday, reaching $97.15. 4,818,713 shares of the company were exchanged, compared to its average volume of 4,770,578. The company’s 50-day moving average is $96.14 and its two-hundred day moving average is $97.59. The company has a market cap of $53.76 billion, a price-to-earnings ratio of -7.64, a P/E/G ratio of 1.78 and a beta of 1.00. The company has a quick ratio of 0.76, a current ratio of 1.64 and a debt-to-equity ratio of 4.17. 3M has a 12-month low of $71.12 and a 12-month high of $99.70.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.29. 3M had a positive return on equity of 95.80% and a negative net margin of 21.57%. The firm had revenue of $8 billion for the quarter, compared to analysts’ expectations of $7.64 billion. During the same quarter last year, the firm posted $1.97 EPS. Research analysts forecast that 3M will post 7.26 earnings per share for the current fiscal year.

3M Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were issued a $1.51 dividend. The ex-dividend date was Thursday, February 15th. This represents a $6.04 annualized dividend and a dividend yield of 6.22%. This is a boost from 3M’s previous quarterly dividend of $1.50. 3M’s dividend payout ratio (DPR) is presently -47.48%.

Insider Activity at 3M

In related news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total transaction of $39,328.32. Following the transaction, the insider now directly owns 3,966 shares of the company’s stock, valued at approximately $366,141.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.34% of the stock is currently 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.