Global Trust Asset Management LLC Decreases Holdings in 3M (NYSE:MMM)

Global Trust Asset Management LLC lowered its holdings in 3M (NYSE:MMM) by 7.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,111 shares of the conglomerate’s stock after selling 85 shares during the quarter. Global Trust Asset Management LLC’s holdings in 3M were worth $143,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MMM. Advisory Alpha LLC acquired a new position in 3M in the fourth quarter valued at approximately $215,000. MBM Wealth Consultants LLC lifted its position in shares of 3M by 7.1% during the 4th quarter. MBM Wealth Consultants LLC now owns 2,345 shares of the conglomerate’s stock worth $304,000 after buying an additional 156 shares during the last quarter. Simon Quick Advisors LLC lifted its position in shares of 3M by 47.2% during the 4th quarter. Simon Quick Advisors LLC now owns 3,316 shares of the conglomerate’s stock worth $428,000 after buying an additional 1,063 shares during the last quarter. Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of 3M by 14.9% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 448,646 shares of the conglomerate’s stock valued at $57,916,000 after buying an additional 58,086 shares in the last quarter. Finally, Exchange Bank grew its position in shares of 3M by 7.9% in the 4th quarter. Exchange Bank now owns 3,410 shares of the conglomerate’s stock valued at $440,000 after buying an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Price Performance

MMM stock opened at $149.14 on Thursday. The firm has a 50 day moving average of $131.73 and a 200-day moving average of $128.53. The company has a market cap of $81.21 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 2.30 and a beta of 0.95. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41. 3M has a 12-month low of $75.40 and a 12-month high of $152.08.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.02. The firm had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5,770,390 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. 3M’s revenue was down 25.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.42 earnings per share. As a group, equities analysts expect that 3M will post 7.28 EPS for the current fiscal year.

3M Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.88%. The ex-dividend date was Friday, November 15th. 3M’s dividend payout ratio (DPR) is 35.35%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MMM. UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and upped their price objective for the company from $130.00 to $184.00 in a research note on Wednesday, November 13th. Melius raised 3M from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Weiss Ratings restated a “hold (c)” rating on shares of 3M in a research note on Saturday, January 18th. Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $140.00 to $170.00 in a research note on Wednesday. Finally, Bank of America raised their target price on shares of 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $148.87.

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.