BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 18,032 Shares of 3M (NYSE:MMM)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. reduced its position in shares of 3M (NYSE:MMM) by 4.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 350,556 shares of the conglomerate’s stock after selling 18,032 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 0.06% of 3M worth $37,183,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. American Century Companies Inc. raised its stake in 3M by 7.5% in the third quarter. American Century Companies Inc. now owns 73,871 shares of the conglomerate’s stock valued at $6,916,000 after buying an additional 5,183 shares during the last quarter. Central Bank & Trust Co. raised its holdings in shares of 3M by 113.4% in the fourth quarter. Central Bank & Trust Co. now owns 907 shares of the conglomerate’s stock worth $99,000 after buying an additional 482 shares during the last quarter. Dfpg Investments LLC raised its holdings in shares of 3M by 2.1% in the fourth quarter. Dfpg Investments LLC now owns 6,114 shares of the conglomerate’s stock worth $659,000 after buying an additional 124 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of 3M by 10.3% during the fourth quarter. Nordea Investment Management AB now owns 2,004,575 shares of the conglomerate’s stock worth $219,060,000 after buying an additional 186,543 shares during the period. Finally, Sound Income Strategies LLC grew its holdings in shares of 3M by 61.4% during the fourth quarter. Sound Income Strategies LLC now owns 2,696 shares of the conglomerate’s stock valued at $295,000 after buying an additional 1,026 shares during the last quarter. 65.25% of the stock is owned by institutional investors.

3M Price Performance

Shares of NYSE MMM traded up $0.23 during mid-day trading on Thursday, reaching $104.87. The company’s stock had a trading volume of 617,330 shares, compared to its average volume of 5,281,267. The stock has a market capitalization of $58.03 billion, a P/E ratio of -8.26, a P/E/G ratio of 1.92 and a beta of 0.95. 3M has a 1-year low of $71.12 and a 1-year high of $106.04. The stock has a 50-day moving average of $101.17 and a two-hundred day moving average of $98.83. 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 issued its earnings results on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.29. 3M had a positive return on equity of 95.80% and a negative net margin of 21.57%. The business had revenue of $8 billion for the quarter, compared to analysts’ expectations of $7.64 billion. During the same period in the previous year, the firm posted $1.97 EPS. On average, equities research analysts anticipate that 3M will post 7.17 EPS for the current fiscal year.

3M Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Friday, May 24th were paid a dividend of $0.70 per share. The ex-dividend date was Thursday, May 23rd. This represents a $2.80 annualized dividend and a yield of 2.67%. 3M’s dividend payout ratio (DPR) is -22.01%.

Wall Street Analyst Weigh In

MMM has been the subject of a number of research reports. Wolfe Research raised 3M from a “peer perform” rating to an “outperform” rating and set a $125.00 price target for the company in a research report on Thursday, June 13th. Vertical Research upgraded shares of 3M from a “hold” rating to a “buy” rating and lifted their price objective for the company from $92.00 to $140.00 in a research note on Thursday, May 16th. Royal Bank of Canada increased their price objective on shares of 3M from $78.00 to $87.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 1st. HSBC upgraded 3M from a “hold” rating to a “buy” rating and lifted their price objective for the company from $91.13 to $115.00 in a research note on Friday, May 10th. Finally, StockNews.com started coverage on shares of 3M in a report on Thursday, June 6th. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $112.17.

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.