BNP PARIBAS ASSET MANAGEMENT Holding S.A. reduced its position in shares of 3M (NYSE:MMM – Free Report) 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 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.
View Our Latest Stock Analysis on MMM
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.
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