Machina Capital S.A.S. Reduces Position in 3M (NYSE:MMM)

Machina Capital S.A.S. lowered its position in 3M (NYSE:MMM) by 35.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,108 shares of the conglomerate’s stock after selling 2,235 shares during the period. Machina Capital S.A.S.’s holdings in 3M were worth $449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Briaud Financial Planning Inc bought a new stake in shares of 3M during the third quarter worth $35,000. Authentikos Wealth Advisory LLC purchased a new position in shares of 3M during the third quarter worth approximately $37,000. CGC Financial Services LLC raised its stake in shares of 3M by 89.9% during the fourth quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock valued at $37,000 after acquiring an additional 160 shares in the last quarter. VisionPoint Advisory Group LLC grew its stake in 3M by 91.9% in the third quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate’s stock worth $42,000 after purchasing an additional 215 shares in the last quarter. Finally, Psagot Value Holdings Ltd. Israel purchased a new position in 3M during the 3rd quarter worth $44,000. Institutional investors own 65.25% of the company’s stock.

Insider Buying and Selling at 3M

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total value of $39,328.32. Following the sale, the insider now directly 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 available through this hyperlink. 0.38% of the stock is currently owned by corporate insiders.

3M Price Performance

Shares of MMM stock traded down $0.56 on Monday, reaching $96.59. 4,328,471 shares of the company were exchanged, compared to its average volume of 5,885,180. The business has a 50-day moving average price of $96.24 and a 200 day moving average price of $97.77. 3M has a 1 year low of $71.12 and a 1 year high of $99.70. The company has a market cap of $53.45 billion, a price-to-earnings ratio of -7.59, a P/E/G ratio of 1.79 and a beta of 1.00. The company has a debt-to-equity ratio of 4.17, a quick ratio of 1.27 and a current ratio of 1.64.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.29. 3M had a negative net margin of 21.57% and a positive return on equity of 95.80%. The business had revenue of $8 billion during the quarter, compared to analysts’ expectations of $7.64 billion. During the same quarter in the prior year, the company posted $1.97 EPS. Equities research analysts forecast that 3M will post 7.23 earnings per share for the current fiscal year.

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 16th were issued a $1.51 dividend. This is a positive change from 3M’s previous quarterly dividend of $1.50. This represents a $6.04 annualized dividend and a yield of 6.25%. The ex-dividend date was Thursday, February 15th. 3M’s payout ratio is -47.48%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MMM shares. Wells Fargo & Company decreased their price objective on 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a report on Wednesday, January 24th. Mizuho reissued a “neutral” rating and issued a $105.00 price objective on shares of 3M in a research note on Wednesday, March 27th. JPMorgan Chase & Co. upgraded 3M from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $110.00 to $111.00 in a report on Wednesday, May 1st. Royal Bank of Canada raised their price objective on 3M from $78.00 to $87.00 and gave the company an “underperform” rating in a research report on Wednesday, May 1st. Finally, UBS Group raised their price target on shares of 3M from $98.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, 3M has an average rating of “Hold” and a consensus price target of $103.70.

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.