Acropolis Investment Management LLC decreased its holdings in 3M (NYSE:MMM – Get Rating) by 5.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,383 shares of the conglomerate’s stock after selling 494 shares during the period. Acropolis Investment Management LLC’s holdings in 3M were worth $1,125,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also made changes to their positions in MMM. MADDEN SECURITIES Corp acquired a new position in shares of 3M during the fourth quarter worth $25,000. Heritage Wealth Management LLC acquired a new position in shares of 3M during the second quarter worth $41,000. Alaska Permanent Fund Corp increased its position in shares of 3M by 9,440.0% during the third quarter. Alaska Permanent Fund Corp now owns 477 shares of the conglomerate’s stock worth $53,000 after purchasing an additional 472 shares in the last quarter. JFS Wealth Advisors LLC increased its position in shares of 3M by 55.1% during the third quarter. JFS Wealth Advisors LLC now owns 490 shares of the conglomerate’s stock worth $54,000 after purchasing an additional 174 shares in the last quarter. Finally, TD Capital Management LLC acquired a new position in shares of 3M during the third quarter worth $58,000. 65.61% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on MMM shares. Royal Bank of Canada cut their target price on 3M from $113.00 to $106.00 in a research report on Wednesday, January 25th. Barclays cut their target price on 3M from $130.00 to $122.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 25th. Citigroup upped their target price on 3M from $117.00 to $126.00 and gave the company a “neutral” rating in a research report on Friday, December 9th. StockNews.com started coverage on 3M in a research report on Thursday. They issued a “hold” rating on the stock. Finally, Mizuho cut their target price on 3M from $130.00 to $120.00 and set a “neutral” rating on the stock in a research report on Thursday, January 26th. Three investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $125.92.
3M Trading Down 1.1 %
3M (NYSE:MMM – Get Rating) last posted its earnings results on Tuesday, January 24th. The conglomerate reported $2.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.34 by ($0.06). 3M had a return on equity of 39.72% and a net margin of 16.88%. The firm had revenue of $8.10 billion for the quarter, compared to analysts’ expectations of $8.09 billion. During the same period in the previous year, the company earned $2.31 earnings per share. The company’s revenue was down 5.9% compared to the same quarter last year. As a group, equities analysts forecast that 3M will post 8.65 EPS for the current fiscal year.
3M Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Sunday, March 12th. Investors of record on Friday, February 17th were paid a $1.50 dividend. The ex-dividend date was Thursday, February 16th. This is a positive change from 3M’s previous quarterly dividend of $1.49. This represents a $6.00 dividend on an annualized basis and a yield of 5.82%. 3M’s dividend payout ratio (DPR) is currently 59.11%.
3M Co is a technology company, which manufactures industrial, safety, and consumer products. It operates through the following segments: Safety and Industrial, Transportation and Electronics, Health Care, Consumer, and Corporate and Unallocated. The Safety and Industrial segment consists of personal safety, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules.
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