Howard Capital Management Inc. Has $445,000 Stake in 3M (NYSE:MMM)

Howard Capital Management Inc. lowered its stake in 3M (NYSE:MMM) by 37.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,448 shares of the conglomerate’s stock after selling 2,080 shares during the quarter. Howard Capital Management Inc.’s holdings in 3M were worth $445,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of MMM. Assenagon Asset Management S.A. boosted its holdings in 3M by 8.9% in the third quarter. Assenagon Asset Management S.A. now owns 22,465 shares of the conglomerate’s stock valued at $3,071,000 after acquiring an additional 1,844 shares during the last quarter. NorthCrest Asset Manangement LLC lifted its position in 3M by 21.5% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 2,513 shares of the conglomerate’s stock valued at $343,000 after purchasing an additional 445 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in 3M by 1.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 211,978 shares of the conglomerate’s stock valued at $28,977,000 after acquiring an additional 3,480 shares during the last quarter. Frank Rimerman Advisors LLC grew its holdings in 3M by 36.8% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 5,181 shares of the conglomerate’s stock worth $708,000 after acquiring an additional 1,394 shares during the period. Finally, Inscription Capital LLC raised its position in shares of 3M by 41.8% during the 3rd quarter. Inscription Capital LLC now owns 3,329 shares of the conglomerate’s stock valued at $455,000 after acquiring an additional 981 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

Insider Transactions at 3M

In related news, EVP Victoria Clarke sold 1,750 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $154.22, for a total value of $269,885.00. Following the completion of the transaction, the executive vice president now directly owns 194 shares of the company’s stock, valued at approximately $29,918.68. This trade represents a 90.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $150.25, for a total transaction of $247,161.25. Following the transaction, the insider now owns 5,153 shares in the company, valued at approximately $774,238.25. The trade was a 24.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,639 shares of company stock valued at $17,163,446 over the last 90 days. 0.34% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

MMM has been the topic of several recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of 3M in a research report on Wednesday, February 19th. Barclays boosted their target price on 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. upped their price target on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Bank of America lifted their price objective on shares of 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Finally, Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $148.87.

3M Price Performance

Shares of NYSE MMM opened at $145.42 on Tuesday. The company has a fifty day moving average price of $140.94 and a 200 day moving average price of $134.85. The firm has a market cap of $78.95 billion, a PE ratio of 19.26, a PEG ratio of 3.30 and a beta of 0.96. 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 has a 1-year low of $75.40 and a 1-year high of $155.00.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share 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 analysts’ expectations of $5.77 billion. During the same period in the prior year, the firm earned $2.42 earnings per share. 3M’s revenue for the quarter was down 25.0% compared to the same quarter last year. Research analysts predict that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th will be issued a $0.73 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 dividend on an annualized basis and a dividend yield of 2.01%. 3M’s dividend payout ratio (DPR) is 38.68%.

3M Company 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.