FCA Corp TX Sells 4,874 Shares of 3M (NYSE:MMM)

FCA Corp TX decreased its position in shares of 3M (NYSE:MMM) by 40.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,155 shares of the conglomerate’s stock after selling 4,874 shares during the quarter. FCA Corp TX’s holdings in 3M were worth $924,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC increased its stake in shares of 3M by 88.7% in the 3rd quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock valued at $1,225,087,000 after acquiring an additional 4,212,409 shares in the last quarter. Amundi increased its stake in shares of 3M by 55.7% in the 4th quarter. Amundi now owns 2,511,095 shares of the conglomerate’s stock valued at $337,815,000 after acquiring an additional 898,244 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of 3M in the 4th quarter valued at $103,788,000. Parsifal Capital Management LP increased its stake in shares of 3M by 179.0% in the 3rd quarter. Parsifal Capital Management LP now owns 820,094 shares of the conglomerate’s stock valued at $112,107,000 after acquiring an additional 526,194 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of 3M by 9.2% in the 4th quarter. Bank of New York Mellon Corp now owns 5,689,486 shares of the conglomerate’s stock valued at $734,456,000 after acquiring an additional 479,621 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective 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. Weiss Ratings reissued a “hold (c+)” rating on shares of 3M in a research report on Friday, March 7th. Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Bank of America lifted their price target on shares of 3M from $175.00 to $179.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Finally, Barclays lifted their price target on shares of 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $149.13.

3M Trading Down 0.6 %

NYSE MMM opened at $150.35 on Friday. The stock has a market capitalization of $81.63 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 3.30 and a beta of 0.97. 3M has a one year low of $85.62 and a one year high of $156.35. 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 business’s fifty day moving average is $148.35 and its 200-day moving average is $137.52.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The business had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.77 billion. During the same period in the previous year, the business posted $2.42 EPS. The firm’s quarterly revenue was down 25.0% compared to the same quarter last year. Equities research analysts predict that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th were given a dividend of $0.73 per share. The ex-dividend date was 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 1.94%. 3M’s dividend payout ratio is currently 38.68%.

Insider Activity

In other news, insider Christian T. Goralski, Jr. sold 6,318 shares of the business’s 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 owns 5,024 shares of the company’s stock, valued at approximately $750,736.32. The trade was a 55.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $150.25, for a total value of $247,161.25. Following the transaction, the insider now directly owns 5,153 shares of the company’s stock, valued at $774,238.25. The trade was a 24.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,639 shares of company stock worth $17,163,446 over the last ninety days. Company insiders own 0.34% of the company’s stock.

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.