Linden Thomas Advisory Services LLC Sells 116 Shares of 3M (NYSE:MMM)

Linden Thomas Advisory Services LLC decreased its stake in 3M (NYSE:MMM) by 1.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,891 shares of the conglomerate’s stock after selling 116 shares during the period. Linden Thomas Advisory Services LLC’s holdings in 3M were worth $1,406,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of MMM. D.A. Davidson & CO. grew its holdings 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. raised its position in shares of 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 during the period. Meyer Handelman Co. increased its stake in 3M by 1.4% during the 4th quarter. Meyer Handelman Co. now owns 197,618 shares of the conglomerate’s stock worth $25,511,000 after purchasing an additional 2,678 shares in the last quarter. Ballentine Partners LLC grew its stake in shares of 3M by 40.1% during the 3rd quarter. Ballentine Partners LLC now owns 18,217 shares of the conglomerate’s stock worth $2,490,000 after acquiring an additional 5,210 shares in the last quarter. Finally, 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. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Stock Down 0.0 %

3M stock opened at $149.61 on Friday. The firm has a market cap of $81.47 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 2.46 and a beta of 0.95. The stock has a fifty day simple moving average of $132.83 and a two-hundred day simple moving average of $129.15. 3M has a 12 month low of $75.40 and a 12 month high of $152.08. 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 quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping 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 analyst estimates of $5,770,390 billion. During the same quarter in the previous year, the company posted $2.42 earnings per share. 3M’s revenue was down 25.0% compared to the same quarter last year. Equities analysts predict that 3M will post 7.66 EPS for the current fiscal year.

3M Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend was Friday, November 15th. 3M’s payout ratio is currently 37.09%.

Analyst Ratings Changes

Several equities research analysts have issued reports on MMM shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of 3M in a report on Saturday, January 18th. Royal Bank of Canada restated an “underperform” rating and issued a $96.00 price target on shares of 3M in a research report on Wednesday. Melius upgraded 3M from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $140.00 to $170.00 in a research report on Wednesday. Finally, Barclays boosted their price target on 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, 3M presently has an average rating of “Moderate Buy” and an average price target of $148.87.

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.