3M (NYSE:MMM) Shares Sold by UMB Bank n.a.

UMB Bank n.a. cut its stake in shares of 3M (NYSE:MMM) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,494 shares of the conglomerate’s stock after selling 743 shares during the quarter. UMB Bank n.a.’s holdings in 3M were worth $2,516,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Strong Tower Advisory Services raised its holdings in 3M by 4.5% during the fourth quarter. Strong Tower Advisory Services now owns 46,715 shares of the conglomerate’s stock worth $6,030,000 after purchasing an additional 2,020 shares in the last quarter. Diversify Wealth Management LLC raised its stake in 3M by 32.5% during the 4th quarter. Diversify Wealth Management LLC now owns 5,021 shares of the conglomerate’s stock worth $659,000 after acquiring an additional 1,232 shares in the last quarter. Grove Bank & Trust lifted its position in 3M by 6.6% in the fourth quarter. Grove Bank & Trust now owns 1,686 shares of the conglomerate’s stock valued at $218,000 after acquiring an additional 105 shares during the last quarter. Brady Martz Wealth Solutions LLC acquired a new position in 3M in the fourth quarter valued at $887,000. Finally, Clarius Group LLC purchased a new position in shares of 3M during the fourth quarter worth about $220,000. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

3M Trading Up 1.3 %

Shares of MMM stock opened at $141.02 on Tuesday. The stock has a market cap of $76.80 billion, a P/E ratio of 17.81, a P/E/G ratio of 2.01 and a beta of 0.95. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $141.66. The business has a fifty day simple moving average of $131.24 and a 200-day simple moving average of $127.93.

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

3M Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend was Friday, November 15th. 3M’s dividend payout ratio (DPR) is presently 35.35%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Bank of America upped their target price on 3M from $143.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Mizuho raised their target price on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Wells Fargo & Company upped their price target on shares of 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. lowered their price objective on shares of 3M from $165.00 to $162.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of 3M in a report on Saturday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, 3M has a consensus rating of “Moderate Buy” and an average price target of $144.13.

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.