Todd Asset Management LLC Has $913,000 Stock Holdings in 3M (NYSE:MMM)

Todd Asset Management LLC decreased its position in 3M (NYSE:MMM) by 27.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 7,075 shares of the conglomerate’s stock after selling 2,695 shares during the period. Todd Asset Management LLC’s holdings in 3M were worth $913,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of MMM. Investors Asset Management of Georgia Inc. GA ADV boosted its holdings in 3M by 1.3% during the fourth quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,377 shares of the conglomerate’s stock worth $694,000 after purchasing an additional 67 shares during the last quarter. Gilbert & Cook Inc. lifted its position in 3M by 1.5% during the 4th quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate’s stock worth $659,000 after buying an additional 73 shares in the last quarter. Childress Capital Advisors LLC boosted its stake in shares of 3M by 5.1% during the 4th quarter. Childress Capital Advisors LLC now owns 1,573 shares of the conglomerate’s stock worth $203,000 after buying an additional 76 shares during the last quarter. Capital Advisors Ltd. LLC grew its holdings in shares of 3M by 5.3% in the 4th quarter. Capital Advisors Ltd. LLC now owns 1,519 shares of the conglomerate’s stock valued at $196,000 after acquiring an additional 77 shares in the last quarter. Finally, Wynn Capital LLC increased its position in shares of 3M by 0.7% in the fourth quarter. Wynn Capital LLC now owns 11,690 shares of the conglomerate’s stock valued at $1,509,000 after acquiring an additional 80 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MMM shares. Citigroup raised their price target on 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. raised their target price on shares of 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Barclays boosted their target price on shares of 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Royal Bank of Canada reiterated an “underperform” rating and issued a $96.00 price target on shares of 3M in a research note on Wednesday, January 22nd. Finally, UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $130.00 to $184.00 in a research note on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $148.87.

Insider Transactions at 3M

In other 3M news, Chairman Michael F. Roman sold 49,598 shares of the business’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $152.30, for a total transaction of $7,553,775.40. Following the completion of the transaction, the chairman now owns 180,895 shares of the company’s stock, valued at approximately $27,550,308.50. The trade was a 21.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $149.43, for a total transaction of $944,098.74. Following the completion of the transaction, the insider now directly owns 5,024 shares of the company’s stock, valued at $750,736.32. This trade represents a 55.70 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,639 shares of company stock valued at $17,163,446. Company insiders own 0.34% of the company’s stock.

3M Trading Up 0.7 %

Shares of NYSE:MMM opened at $146.54 on Wednesday. The business’s 50 day simple moving average is $141.31 and its 200 day simple moving average is $135.01. 3M has a 1 year low of $75.40 and a 1 year high of $155.00. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The company has a market capitalization of $79.55 billion, a P/E ratio of 19.41, a P/E/G ratio of 3.30 and a beta of 0.96.

3M (NYSE:MMM) last released its earnings results 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 company had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. 3M’s quarterly revenue was down 25.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.42 EPS. On average, research analysts anticipate that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th will be given a $0.73 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a dividend yield of 1.99%. 3M’s payout ratio is presently 38.68%.

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.