Baader Bank Aktiengesellschaft Sells 3,906 Shares of 3M (NYSE:MMM)

Baader Bank Aktiengesellschaft trimmed its stake in shares of 3M (NYSE:MMM) by 17.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 18,299 shares of the conglomerate’s stock after selling 3,906 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in 3M were worth $2,362,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MMM. NewEdge Advisors LLC increased its holdings in 3M by 15.1% in the 2nd quarter. NewEdge Advisors LLC now owns 62,500 shares of the conglomerate’s stock worth $6,387,000 after purchasing an additional 8,220 shares in the last quarter. EP Wealth Advisors LLC increased its stake in shares of 3M by 1.0% in the second quarter. EP Wealth Advisors LLC now owns 14,487 shares of the conglomerate’s stock valued at $1,480,000 after buying an additional 143 shares during the period. Cetera Investment Advisers increased its stake in shares of 3M by 10.7% in the second quarter. Cetera Investment Advisers now owns 183,925 shares of the conglomerate’s stock valued at $18,795,000 after buying an additional 17,793 shares during the period. Dana Investment Advisors Inc. boosted its position in 3M by 6.1% during the 2nd quarter. Dana Investment Advisors Inc. now owns 14,275 shares of the conglomerate’s stock worth $1,459,000 after buying an additional 820 shares during the period. Finally, Strategic Investment Solutions Inc. IL bought a new stake in 3M during the 2nd quarter worth approximately $43,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of 3M in a report on Saturday, January 18th. Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a report on Tuesday, October 22nd. Bank of America raised their price target on shares of 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Mizuho upped their price objective on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Citigroup lifted their target price on shares of 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, 3M presently has an average rating of “Moderate Buy” and an average target price of $148.87.

Insider Activity at 3M

In related news, CAO Theresa E. Reinseth sold 2,309 shares of 3M stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $149.95, for a total value of $346,234.55. Following the completion of the transaction, the chief accounting officer now directly owns 4,417 shares in the company, valued at approximately $662,329.15. The trade was a 34.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $150.25, for a total value of $247,161.25. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 62,291 shares of company stock valued at $9,339,786. 0.34% of the stock is owned by insiders.

3M Stock Performance

NYSE MMM opened at $151.55 on Thursday. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. The company has a fifty day simple moving average of $133.72 and a 200 day simple moving average of $130.23. 3M has a 12-month low of $75.40 and a 12-month high of $152.96. The company has a market cap of $82.53 billion, a P/E ratio of 20.07, a PEG ratio of 2.46 and a beta of 0.95.

3M (NYSE:MMM) last posted its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping the consensus estimate of $1.66 by $0.02. The company had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The firm’s revenue for the quarter 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. Sell-side analysts predict that 3M will post 7.66 earnings per share for the current fiscal year.

3M Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, November 15th. This represents a $2.80 annualized dividend and a yield of 1.85%. 3M’s dividend payout ratio (DPR) is currently 37.09%.

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.