QV Investors Inc. Sells 3,210 Shares of 3M (NYSE:MMM)

QV Investors Inc. lowered its position in shares of 3M (NYSE:MMM) by 3.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 97,585 shares of the conglomerate’s stock after selling 3,210 shares during the period. 3M comprises about 1.3% of QV Investors Inc.’s investment portfolio, making the stock its 28th biggest holding. QV Investors Inc.’s holdings in 3M were worth $12,597,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MMM. State Street Corp raised its stake in shares of 3M by 1.1% during the third quarter. State Street Corp now owns 27,194,612 shares of the conglomerate’s stock valued at $3,717,503,000 after acquiring an additional 302,900 shares during the last quarter. FMR LLC raised its position in 3M by 88.7% during the 3rd quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock valued at $1,225,087,000 after purchasing an additional 4,212,409 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in 3M by 2.0% in the 2nd quarter. Pacer Advisors Inc. now owns 4,952,878 shares of the conglomerate’s stock worth $506,135,000 after buying an additional 97,340 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of 3M by 1.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,815,625 shares of the conglomerate’s stock worth $521,596,000 after buying an additional 43,942 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of 3M by 18.6% during the second quarter. AQR Capital Management LLC now owns 2,531,422 shares of the conglomerate’s stock valued at $258,686,000 after buying an additional 396,773 shares during the period. Institutional investors own 65.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MMM. UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and lifted their price target for the company from $130.00 to $184.00 in a report on Wednesday, November 13th. Bank of America raised their target price on shares of 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Mizuho boosted their price target on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a report on Tuesday, October 22nd. Finally, Barclays lowered their target price on 3M from $165.00 to $161.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, 3M currently has an average rating of “Moderate Buy” and a consensus target price of $144.33.

3M Stock Up 1.2 %

Shares of NYSE MMM traded up $1.51 during midday trading on Monday, hitting $132.72. The stock had a trading volume of 1,213,884 shares, compared to its average volume of 3,213,650. The company has a market cap of $72.27 billion, a P/E ratio of 16.76, a PEG ratio of 2.15 and a beta of 0.95. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41. The business’s 50 day moving average is $130.51 and its 200-day moving average is $126.65. 3M has a 52 week low of $75.40 and a 52 week high of $141.34.

3M (NYSE:MMM) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.05. The business had revenue of $6.29 billion during the quarter, compared to analyst estimates of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. The company’s quarterly revenue was down 24.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.68 EPS. As a group, analysts predict that 3M will post 7.27 EPS for the current year.

3M Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Friday, November 15th. 3M’s dividend payout ratio is currently 35.35%.

3M Company 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.