3M (NYSE:MMM) Shares Sold by Financial Counselors Inc.

Financial Counselors Inc. decreased its position in shares of 3M (NYSE:MMM) by 4.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 22,707 shares of the conglomerate’s stock after selling 1,181 shares during the quarter. Financial Counselors Inc.’s holdings in 3M were worth $3,104,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of MMM. Public Sector Pension Investment Board grew its holdings in 3M by 10.3% in the 3rd quarter. Public Sector Pension Investment Board now owns 23,580 shares of the conglomerate’s stock valued at $3,223,000 after buying an additional 2,200 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in 3M by 1.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,815,625 shares of the conglomerate’s stock valued at $521,596,000 after purchasing an additional 43,942 shares during the period. True Vision MN LLC increased its position in 3M by 11.0% during the third quarter. True Vision MN LLC now owns 5,567 shares of the conglomerate’s stock worth $761,000 after purchasing an additional 552 shares during the last quarter. CreativeOne Wealth LLC raised its stake in 3M by 52.2% during the third quarter. CreativeOne Wealth LLC now owns 13,433 shares of the conglomerate’s stock worth $1,836,000 after purchasing an additional 4,605 shares during the period. Finally, Blueshift Asset Management LLC raised its stake in 3M by 254.4% during the third quarter. Blueshift Asset Management LLC now owns 7,956 shares of the conglomerate’s stock worth $1,088,000 after purchasing an additional 5,711 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Stock Up 0.8 %

Shares of 3M stock opened at $133.53 on Friday. 3M has a 1-year low of $75.40 and a 1-year high of $141.34. The company has a market capitalization of $72.71 billion, a PE ratio of 16.86, a P/E/G ratio of 2.19 and a beta of 0.95. 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 business has a 50-day moving average of $132.39 and a 200-day moving average of $120.16.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share 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 firm had revenue of $6.29 billion during the quarter, compared to analyst estimates of $6.06 billion. During the same quarter last year, the firm earned $2.68 EPS. 3M’s quarterly revenue was down 24.3% on a year-over-year basis. As a group, equities analysts forecast that 3M will post 7.27 EPS for the current fiscal year.

3M Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a $0.70 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.10%. 3M’s dividend payout ratio (DPR) is presently 35.35%.

Analysts Set New Price Targets

A number of analysts have recently commented on MMM shares. Barclays upped their price objective on 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Melius upgraded 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Melius Research raised 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. Wells Fargo & Company increased their target price on shares of 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, Bank of America lifted their price target on shares of 3M from $143.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $144.87.

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.