Bellecapital International Ltd. Acquires 1,410 Shares of 3M (NYSE:MMM)

Bellecapital International Ltd. raised its holdings in 3M (NYSE:MMMFree Report) by 5.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,268 shares of the conglomerate’s stock after buying an additional 1,410 shares during the quarter. Bellecapital International Ltd.’s holdings in 3M were worth $2,872,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MMM. Vanguard Group Inc. boosted its position in shares of 3M by 0.7% during the third quarter. Vanguard Group Inc. now owns 49,033,679 shares of the conglomerate’s stock valued at $4,590,533,000 after purchasing an additional 317,483 shares in the last quarter. State Street Corp boosted its position in shares of 3M by 0.6% during the second quarter. State Street Corp now owns 33,311,747 shares of the conglomerate’s stock valued at $3,334,173,000 after purchasing an additional 196,238 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of 3M by 5.7% during the first quarter. Geode Capital Management LLC now owns 11,474,791 shares of the conglomerate’s stock valued at $1,203,635,000 after purchasing an additional 619,370 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of 3M by 7.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 11,315,417 shares of the conglomerate’s stock valued at $1,684,639,000 after purchasing an additional 758,126 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of 3M by 8.3% during the fourth quarter. Morgan Stanley now owns 10,769,973 shares of the conglomerate’s stock valued at $1,291,535,000 after purchasing an additional 825,223 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors.

3M Stock Performance

3M stock opened at $106.07 on Monday. The stock has a fifty day moving average of $96.82 and a 200 day moving average of $97.76. 3M has a one year low of $85.35 and a one year high of $113.14. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 2.69.

3M (NYSE:MMMGet Free Report) last released its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.11. 3M had a positive return on equity of 62.45% and a negative net margin of 21.40%. The business had revenue of $8.01 billion during the quarter, compared to analyst estimates of $7.69 billion. During the same quarter in the previous year, the company posted $2.28 earnings per share. 3M’s revenue for the quarter was down 1.1% on a year-over-year basis. Analysts forecast that 3M will post 9.77 EPS for the current fiscal year.

3M Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 5.69%. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from 3M’s previous quarterly dividend of $1.50. 3M’s payout ratio is currently -47.82%.

Insider Buying and Selling at 3M

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total transaction of $39,328.32. Following the completion of the sale, the insider now owns 3,966 shares of the company’s stock, valued at $366,141.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.51% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Wells Fargo & Company dropped their price target on 3M from $112.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 24th. Barclays upgraded 3M from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $111.00 to $126.00 in a research note on Tuesday, March 19th. Citigroup lowered their price objective on 3M from $117.00 to $104.00 and set a “neutral” rating for the company in a research note on Wednesday, January 24th. Royal Bank of Canada reiterated an “underperform” rating and set a $84.00 price objective on shares of 3M in a research note on Wednesday, March 20th. Finally, Mizuho reiterated a “neutral” rating and set a $105.00 price objective on shares of 3M in a research note on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $107.60.

Read Our Latest Stock Analysis on 3M

3M Company Profile

(Free Report)

3M Company provides diversified technology services in the United States and internationally. The company operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The 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.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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