Todd Asset Management LLC Has $913,000 Stake in 3M (NYSE:MMM)

Todd Asset Management LLC lowered its position in shares of 3M (NYSE:MMM) by 27.6% during the fourth quarter, HoldingsChannel reports. The fund owned 7,075 shares of the conglomerate’s stock after selling 2,695 shares during the quarter. Todd Asset Management LLC’s holdings in 3M were worth $913,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Financial Life Planners bought a new stake in shares of 3M during the fourth quarter worth about $25,000. FSA Wealth Management LLC acquired a new stake in 3M during the 3rd quarter worth approximately $27,000. True Wealth Design LLC grew its holdings in 3M by 2,466.7% during the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock worth $42,000 after acquiring an additional 296 shares during the last quarter. ORG Partners LLC increased its position in 3M by 44.1% in the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after acquiring an additional 98 shares during the period. Finally, Catalyst Capital Advisors LLC raised its stake in shares of 3M by 81.5% during the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the conglomerate’s stock valued at $47,000 after acquiring an additional 163 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on MMM. Barclays boosted their price objective on shares of 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Citigroup upped their price target on 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Bank of America raised their price objective on 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Royal Bank of Canada reiterated an “underperform” rating and issued a $96.00 target price on shares of 3M in a report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. raised their price target on shares of 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $148.87.

Insider Buying and Selling

In other 3M news, EVP Victoria Clarke sold 1,750 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $154.22, for a total transaction of $269,885.00. Following the completion of the sale, the executive vice president now directly owns 194 shares of the company’s stock, valued at approximately $29,918.68. The trade was a 90.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $149.43, for a total value of $944,098.74. Following the completion of the transaction, the insider now owns 5,024 shares in the company, valued at $750,736.32. This represents a 55.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,639 shares of company stock worth $17,163,446 in the last ninety days. Corporate insiders own 0.34% of the company’s stock.

3M Trading Up 0.7 %

NYSE:MMM opened at $146.54 on Wednesday. The firm has a fifty day simple moving average of $141.31 and a two-hundred day simple moving average of $135.01. 3M has a 12 month low of $75.40 and a 12 month high of $155.00. The stock has a market capitalization of $79.55 billion, a price-to-earnings ratio of 19.41, a PEG ratio of 3.30 and a beta of 0.96. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86.

3M (NYSE:MMM) last issued its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, beating the consensus estimate of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The company had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same period last year, the business posted $2.42 EPS. The firm’s revenue for the quarter was down 25.0% compared to the same quarter last year. Analysts expect that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th will be given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.99%. This is a positive change from 3M’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, February 14th. 3M’s dividend payout ratio is presently 38.68%.

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.