3M (NYSE:MMM) Shares Sold by Bokf Na

Bokf Na cut its position in shares of 3M (NYSE:MMM) by 15.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 44,047 shares of the conglomerate’s stock after selling 8,316 shares during the quarter. Bokf Na’s holdings in 3M were worth $4,672,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Tributary Capital Management LLC acquired a new position in shares of 3M during the 1st quarter valued at $25,000. Financial Synergies Wealth Advisors Inc. grew its holdings in shares of 3M by 419.1% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock worth $26,000 after acquiring an additional 197 shares during the last quarter. Northwest Investment Counselors LLC acquired a new position in shares of 3M in the 1st quarter worth $32,000. Livelsberger Financial Advisory acquired a new position in shares of 3M in the 4th quarter worth $35,000. Finally, Cape Investment Advisory Inc. grew its holdings in shares of 3M by 42.8% in the 4th quarter. Cape Investment Advisory Inc. now owns 387 shares of the conglomerate’s stock worth $42,000 after acquiring an additional 116 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Stock Down 1.5 %

Shares of NYSE:MMM traded down $1.95 on Monday, reaching $125.21. The company had a trading volume of 2,268,828 shares, compared to its average volume of 5,392,721. The company has a quick ratio of 1.08, a current ratio of 1.36 and a debt-to-equity ratio of 2.95. The stock has a 50-day moving average price of $102.05 and a 200 day moving average price of $98.69. The stock has a market capitalization of $69.29 billion, a P/E ratio of -10.00, a P/E/G ratio of 2.36 and a beta of 0.95. 3M has a twelve month low of $71.12 and a twelve month high of $128.49.

3M (NYSE:MMM) last posted its quarterly earnings data on Friday, July 26th. The conglomerate reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.25. The business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.85 billion. 3M had a return on equity of 112.92% and a net margin of 3.08%. During the same period in the previous year, the company posted $2.17 earnings per share. On average, equities analysts expect that 3M will post 7.19 EPS for the current year.

3M Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 24th were paid a $0.70 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.24%. 3M’s payout ratio is presently -22.01%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Citigroup lifted their price target on 3M from $98.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Royal Bank of Canada lifted their price objective on 3M from $78.00 to $87.00 and gave the company an “underperform” rating in a research report on Wednesday, May 1st. Wells Fargo & Company lifted their price objective on 3M from $100.00 to $110.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 10th. UBS Group lifted their price objective on 3M from $98.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Finally, HSBC raised 3M from a “hold” rating to a “buy” rating and lifted their price objective for the company from $91.13 to $115.00 in a research report on Friday, May 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, 3M presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.08.

About 3M

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.