Beutel Goodman & Co Ltd. Has $3.20 Million Position in 3M Company $MMM

Beutel Goodman & Co Ltd. cut its stake in 3M Company (NYSE:MMM) by 19.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,015 shares of the conglomerate’s stock after selling 5,115 shares during the quarter. Beutel Goodman & Co Ltd.’s holdings in 3M were worth $3,199,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of MMM. Farmers & Merchants Investments Inc. grew its stake in 3M by 0.4% in the second quarter. Farmers & Merchants Investments Inc. now owns 16,920 shares of the conglomerate’s stock valued at $2,576,000 after purchasing an additional 72 shares in the last quarter. Warwick Investment Management Inc. raised its stake in shares of 3M by 2.3% during the 1st quarter. Warwick Investment Management Inc. now owns 3,573 shares of the conglomerate’s stock worth $525,000 after purchasing an additional 80 shares in the last quarter. Pinnacle Wealth Planning Services Inc. lifted its stake in shares of 3M by 4.7% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 1,834 shares of the conglomerate’s stock valued at $269,000 after purchasing an additional 83 shares during the last quarter. McAdam LLC lifted its stake in shares of 3M by 1.9% in the 1st quarter. McAdam LLC now owns 4,722 shares of the conglomerate’s stock valued at $693,000 after purchasing an additional 87 shares during the last quarter. Finally, AIMZ Investment Advisors LLC boosted its holdings in 3M by 2.0% in the first quarter. AIMZ Investment Advisors LLC now owns 4,743 shares of the conglomerate’s stock worth $697,000 after purchasing an additional 95 shares in the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

3M Stock Performance

3M stock opened at $169.08 on Friday. The firm has a market capitalization of $89.82 billion, a P/E ratio of 27.01, a P/E/G ratio of 2.66 and a beta of 1.08. 3M Company has a 52-week low of $121.98 and a 52-week high of $174.69. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.84 and a quick ratio of 1.40. The stock has a fifty day moving average price of $163.09 and a two-hundred day moving average price of $155.83.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, February 21st. The conglomerate reported $2.45 earnings per share for the quarter. 3M had a net margin of 13.70% and a return on equity of 98.47%. The company had revenue of $8.38 billion during the quarter. As a group, analysts anticipate that 3M Company will post 7.8 EPS for the current fiscal year.

3M Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 14th will be paid a $0.73 dividend. The ex-dividend date is Friday, November 14th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.7%. 3M’s dividend payout ratio (DPR) is 46.65%.

Insider Transactions at 3M

In related news, EVP Zoe L. Dickson sold 13,826 shares of the company’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $169.78, for a total transaction of $2,347,378.28. Following the transaction, the executive vice president owned 6,162 shares in the company, valued at $1,046,184.36. This represents a 69.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark W. Murphy sold 19,061 shares of the stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $166.55, for a total transaction of $3,174,609.55. Following the sale, the executive vice president directly owned 6,594 shares in the company, valued at approximately $1,098,230.70. This represents a 74.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 46,516 shares of company stock valued at $7,836,465 over the last ninety days. 0.34% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Barclays raised their target price on 3M from $180.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday. Wells Fargo & Company raised their target price on 3M from $176.00 to $183.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. JPMorgan Chase & Co. upped their price target on 3M from $175.00 to $178.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Royal Bank Of Canada increased their price objective on 3M from $120.00 to $130.00 and gave the company an “underperform” rating in a research report on Wednesday, October 22nd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of 3M in a report on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, 3M has an average rating of “Moderate Buy” and an average target price of $176.10.

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.