3M (NYSE:MMM) Shares Sold by Diversified Trust Co

Diversified Trust Co lessened its position in 3M (NYSE:MMM) by 17.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 23,296 shares of the conglomerate’s stock after selling 5,036 shares during the period. Diversified Trust Co’s holdings in 3M were worth $3,007,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. FSA Wealth Management LLC purchased a new stake in 3M in the 3rd quarter valued at approximately $27,000. Daymark Wealth Partners LLC lifted its holdings in shares of 3M by 8.6% in the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock valued at $30,000 after buying an additional 17,211 shares during the period. McClarren Financial Advisors Inc. boosted its stake in shares of 3M by 118.6% in the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after buying an additional 121 shares in the last quarter. Meeder Asset Management Inc. grew its holdings in 3M by 689.7% during the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 269 shares during the period. Finally, True Wealth Design LLC raised its position in 3M by 2,466.7% in the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock worth $42,000 after acquiring an additional 296 shares in the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a research report on Tuesday, October 22nd. Royal Bank of Canada decreased their price objective on shares of 3M from $100.00 to $96.00 and set an “underperform” rating on the stock in a report on Friday, January 3rd. JPMorgan Chase & Co. increased their target price on shares of 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Melius raised 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Finally, Barclays raised their price objective on 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $144.60.

3M Trading Up 1.8 %

3M stock opened at $132.59 on Wednesday. The stock has a 50-day moving average price of $130.18 and a 200 day moving average price of $126.00. 3M has a 52 week low of $75.40 and a 52 week high of $141.34. The stock has a market cap of $72.20 billion, a PE ratio of 16.74, a P/E/G ratio of 2.15 and a beta of 0.95. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.05. The business had revenue of $6.29 billion during the quarter, compared to the consensus estimate of $6.06 billion. 3M had a net margin of 15.37% and a return on equity of 104.66%. The company’s quarterly revenue was down 24.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.68 earnings per share. Equities research analysts predict that 3M will post 7.27 earnings per share for the current fiscal year.

3M Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Friday, November 15th. 3M’s dividend payout ratio is presently 35.35%.

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.