Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $14.95 Million Holdings in 3M (NYSE:MMM)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its holdings in shares of 3M (NYSE:MMM) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 115,790 shares of the conglomerate’s stock after selling 3,799 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in 3M were worth $14,947,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Financial Life Planners acquired a new position in shares of 3M during the fourth quarter worth approximately $25,000. FSA Wealth Management LLC acquired a new position in shares of 3M during the third quarter worth approximately $27,000. True Wealth Design LLC lifted its holdings in shares of 3M by 2,466.7% during the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock worth $42,000 after buying an additional 296 shares during the last quarter. ORG Partners LLC lifted its holdings in shares of 3M by 44.1% during the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after buying an additional 98 shares during the last quarter. Finally, Catalyst Capital Advisors LLC lifted its holdings in shares of 3M by 81.5% during the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the conglomerate’s stock worth $47,000 after buying an additional 163 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at 3M

In other 3M news, EVP Victoria Clarke sold 1,750 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $154.22, for a total value of $269,885.00. Following the transaction, the executive vice president now owns 194 shares of the company’s stock, valued at approximately $29,918.68. This represents a 90.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Theresa E. Reinseth sold 2,309 shares of the stock in a transaction dated 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 $662,329.15. The trade was a 34.33 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,639 shares of company stock valued at $17,163,446. 0.34% of the stock is currently owned by company insiders.

3M Price Performance

3M stock opened at $151.16 on Friday. The business’s 50-day simple moving average is $147.96 and its 200 day simple moving average is $137.36. The stock has a market cap of $82.06 billion, a price-to-earnings ratio of 20.02, a P/E/G ratio of 3.30 and a beta of 0.97. 3M has a 12-month low of $85.62 and a 12-month high of $156.35. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86.

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

3M Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were issued a $0.73 dividend. This is a boost from 3M’s previous quarterly dividend of $0.70. The ex-dividend date was Friday, February 14th. This represents a $2.92 annualized dividend and a yield of 1.93%. 3M’s dividend payout ratio (DPR) is currently 38.68%.

Analyst Upgrades and Downgrades

MMM has been the subject of a number of recent research reports. Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $140.00 to $170.00 in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. upped their target price on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Barclays upped their target price on 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Bank of America upped their target price on 3M from $175.00 to $179.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Finally, Royal Bank of Canada restated an “underperform” rating and issued a $96.00 target price on shares of 3M in a research note on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $149.13.

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.