Pinnacle Bancorp Inc. Sells 144 Shares of 3M (NYSE:MMM)

Pinnacle Bancorp Inc. trimmed its holdings in 3M (NYSE:MMM) by 4.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,464 shares of the conglomerate’s stock after selling 144 shares during the quarter. Pinnacle Bancorp Inc.’s holdings in 3M were worth $447,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the stock. D.A. Davidson & CO. boosted its position in shares of 3M by 16.2% in the 3rd quarter. D.A. Davidson & CO. now owns 146,333 shares of the conglomerate’s stock worth $20,004,000 after purchasing an additional 20,421 shares during the last quarter. Franklin Resources Inc. lifted its position in 3M by 26.8% in the 3rd quarter. Franklin Resources Inc. now owns 845,401 shares of the conglomerate’s stock valued at $114,770,000 after acquiring an additional 178,450 shares in the last quarter. Ballentine Partners LLC boosted its position in shares of 3M by 40.1% during the third quarter. Ballentine Partners LLC now owns 18,217 shares of the conglomerate’s stock worth $2,490,000 after buying an additional 5,210 shares during the period. Stonegate Investment Group LLC grew its stake in shares of 3M by 5.6% during the 3rd quarter. Stonegate Investment Group LLC now owns 252,847 shares of the conglomerate’s stock worth $34,564,000 after acquiring an additional 13,473 shares in the last quarter. Finally, True Vision MN LLC acquired a new stake in 3M in the 2nd quarter valued at $512,000. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Trading Up 0.6 %

Shares of MMM opened at $138.07 on Thursday. 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 firm has a fifty day simple moving average of $130.90 and a two-hundred day simple moving average of $127.12. The stock has a market capitalization of $75.19 billion, a P/E ratio of 17.43, a PEG ratio of 2.01 and a beta of 0.95. 3M has a twelve month low of $75.40 and a twelve month high of $141.34.

3M (NYSE:MMM) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.05. The firm 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 business’s revenue was down 24.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.68 EPS. On average, research analysts anticipate that 3M will post 7.27 EPS for the current year.

3M Dividend Announcement

The firm 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. The ex-dividend date was Friday, November 15th. This represents a $2.80 annualized dividend and a yield of 2.03%. 3M’s dividend payout ratio is 35.35%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MMM shares. Bank of America lifted their price target on 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their target price on shares of 3M from $165.00 to $162.00 and set an “overweight” rating on the stock in a research report on Wednesday. Barclays decreased their price target on 3M from $165.00 to $161.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Mizuho upped their target price on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and raised their price target for the company from $130.00 to $184.00 in a research note on Wednesday, November 13th. Two research 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. Based on data from MarketBeat, the stock currently 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.