3M (NYSE:MMM) Shares Sold by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. trimmed its position in shares of 3M (NYSE:MMM) by 5.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,111 shares of the conglomerate’s stock after selling 641 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in 3M were worth $1,324,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. lifted its position in shares of 3M by 1,273.9% in the 4th quarter. Pacer Advisors Inc. now owns 3,783,726 shares of the conglomerate’s stock worth $413,637,000 after buying an additional 3,508,334 shares during the last quarter. International Assets Investment Management LLC boosted its position in 3M by 8,766.0% during the 4th quarter. International Assets Investment Management LLC now owns 1,080,940 shares of the conglomerate’s stock worth $118,168,000 after acquiring an additional 1,068,748 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of 3M by 20.8% during the third quarter. Van ECK Associates Corp now owns 2,944,135 shares of the conglomerate’s stock worth $275,630,000 after buying an additional 506,654 shares in the last quarter. FMR LLC grew its holdings in shares of 3M by 29.8% during the third quarter. FMR LLC now owns 1,908,914 shares of the conglomerate’s stock worth $178,713,000 after purchasing an additional 438,424 shares during the last quarter. Finally, Nuance Investments LLC boosted its holdings in shares of 3M by 10.1% during the 3rd quarter. Nuance Investments LLC now owns 4,062,557 shares of the conglomerate’s stock worth $380,337,000 after buying an additional 371,935 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Price Performance

NYSE MMM traded up $0.27 on Friday, reaching $91.68. The company’s stock had a trading volume of 219,505 shares, compared to its average volume of 5,674,333. The firm has a market cap of $50.73 billion, a PE ratio of -7.24, a price-to-earnings-growth ratio of 1.82 and a beta of 1.02. The business has a 50-day moving average price of $95.70 and a 200 day moving average price of $97.35. 3M has a 52 week low of $71.12 and a 52 week high of $95.67. 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:MMM) last issued its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.11. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The firm had revenue of $8.01 billion for the quarter, compared to analysts’ expectations of $7.69 billion. During the same period in the prior year, the firm earned $2.28 earnings per share. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. Sell-side analysts expect that 3M will post 7.87 EPS for the current year.

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th were given a dividend of $1.51 per share. This is an increase from 3M’s previous quarterly dividend of $1.50. The ex-dividend date was Thursday, February 15th. This represents a $6.04 annualized dividend and a dividend yield of 6.59%. 3M’s dividend payout ratio is currently -47.82%.

Insider Activity 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 shares were sold at an average price of $92.32, for a total value of $39,328.32. Following the completion of the sale, the insider now owns 3,966 shares of the company’s stock, valued at approximately $366,141.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.34% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on MMM shares. Royal Bank of Canada cut their price objective on 3M from $84.00 to $78.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 2nd. Bank of America decreased their target price on 3M from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Tuesday, April 2nd. StockNews.com upgraded 3M from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Wells Fargo & Company reduced their target price on 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a report on Wednesday, January 24th. Finally, Mizuho reissued a “neutral” rating and set a $105.00 target price on shares of 3M in a research note on Wednesday, March 27th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $104.00.

3M 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.