Forsta AP Fonden trimmed its position in shares of 3M (NYSE:MMM) by 5.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,090 shares of the conglomerate’s stock after selling 4,959 shares during the quarter. Forsta AP Fonden’s holdings in 3M were worth $17,801,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Koch Industries Inc. bought a new position in shares of 3M during the 4th quarter valued at $788,000. LMR Partners LLP bought a new position in shares of 3M during the 4th quarter valued at $1,916,000. Personal Capital Advisors Corp lifted its holdings in shares of 3M by 4.3% during the 4th quarter. Personal Capital Advisors Corp now owns 173,433 shares of the conglomerate’s stock valued at $40,821,000 after buying an additional 7,120 shares during the period. Bank of Nova Scotia Trust Co. lifted its holdings in shares of 3M by 15.1% during the 4th quarter. Bank of Nova Scotia Trust Co. now owns 50,993 shares of the conglomerate’s stock valued at $12,002,000 after buying an additional 6,688 shares during the period. Finally, Reilly Herbert Faulkner III lifted its holdings in shares of 3M by 2.7% during the 4th quarter. Reilly Herbert Faulkner III now owns 20,808 shares of the conglomerate’s stock valued at $4,898,000 after buying an additional 548 shares during the period. 66.70% of the stock is currently owned by hedge funds and other institutional investors.
In other 3M news, EVP Frank R. Jr. Little sold 3,133 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $236.85, for a total value of $742,051.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.58% of the company’s stock.
Shares of MMM stock opened at $198.96 on Friday. 3M has a 52-week low of $191.44 and a 52-week high of $259.77. The company has a quick ratio of 1.17, a current ratio of 1.65 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $118.12 billion, a price-to-earnings ratio of 21.70, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17.
3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, April 24th. The conglomerate reported $2.50 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $2.50. 3M had a return on equity of 50.11% and a net margin of 12.83%. The business had revenue of $8.28 billion during the quarter, compared to analyst estimates of $8.21 billion. During the same quarter in the prior year, the business posted $2.16 EPS. 3M’s revenue for the quarter was up 7.7% compared to the same quarter last year. analysts expect that 3M will post 10.42 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 12th. Shareholders of record on Friday, May 18th will be paid a $1.36 dividend. The ex-dividend date is Thursday, May 17th. This represents a $5.44 dividend on an annualized basis and a yield of 2.73%. 3M’s payout ratio is presently 59.32%.
MMM has been the topic of several research analyst reports. Barclays lowered their price target on 3M from $235.00 to $230.00 and set an “underweight” rating on the stock in a report on Monday, March 26th. Vetr raised 3M from a “hold” rating to a “buy” rating and set a $250.06 price target on the stock in a report on Monday, February 5th. Royal Bank of Canada restated a “hold” rating and issued a $254.00 price objective on shares of 3M in a research note on Thursday, January 25th. Hilliard Lyons upgraded 3M from a “neutral” rating to a “buy” rating and set a $285.00 price objective for the company in a research note on Wednesday, January 24th. Finally, UBS reduced their price objective on 3M from $250.00 to $215.00 and set a “neutral” rating for the company in a research note on Thursday, April 26th. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $241.97.
3M Company operates as a diversified technology company worldwide. The company's Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; purification products; closure systems for personal hygiene products; acoustic systems products; automotive components; and abrasion-resistant films, and paint finishing and detailing products.
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