Monarch Capital Management Inc. Decreases Stake in 3M (NYSE:MMM)

Monarch Capital Management Inc. lowered its holdings in 3M (NYSE:MMM) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,462 shares of the conglomerate’s stock after selling 215 shares during the period. Monarch Capital Management Inc.’s holdings in 3M were worth $4,191,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. CVA Family Office LLC grew its position in 3M by 1.9% during the third quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate’s stock valued at $571,000 after buying an additional 79 shares during the period. Wynn Capital LLC boosted its stake in 3M by 0.7% in the fourth quarter. Wynn Capital LLC now owns 11,690 shares of the conglomerate’s stock valued at $1,509,000 after acquiring an additional 80 shares during the last quarter. Harbour Investments Inc. grew its position in shares of 3M by 0.8% during the 3rd quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate’s stock valued at $1,443,000 after acquiring an additional 81 shares during the period. KMG Fiduciary Partners LLC increased its stake in shares of 3M by 0.5% during the 3rd quarter. KMG Fiduciary Partners LLC now owns 16,186 shares of the conglomerate’s stock worth $2,213,000 after purchasing an additional 84 shares during the last quarter. Finally, TCV Trust & Wealth Management Inc. lifted its stake in 3M by 1.3% in the third quarter. TCV Trust & Wealth Management Inc. now owns 6,464 shares of the conglomerate’s stock valued at $884,000 after purchasing an additional 84 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

3M Price Performance

Shares of NYSE:MMM opened at $141.02 on Friday. The company’s fifty day moving average price is $131.24 and its 200-day moving average price is $127.56. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.43 and a quick ratio of 1.08. The firm has a market capitalization of $76.80 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 2.01 and a beta of 0.95. 3M has a one year low of $75.40 and a one year high of $141.66.

3M (NYSE:MMM) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.05. 3M had a return on equity of 104.66% and a net margin of 15.37%. The business had revenue of $6.29 billion for the quarter, compared to analysts’ expectations of $6.06 billion. During the same quarter in the prior year, the firm earned $2.68 earnings per share. The firm’s revenue was down 24.3% on a year-over-year basis. On average, equities research analysts anticipate that 3M will post 7.27 earnings per share for the current fiscal year.

3M Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a yield of 1.99%. 3M’s payout ratio is 35.35%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Mizuho increased their price target on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Bank of America increased their target price on 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. cut their target price on 3M from $165.00 to $162.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Royal Bank of Canada decreased their price target on 3M from $100.00 to $96.00 and set an “underperform” rating on the stock in a research report on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $144.13.

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.