3M (NYSE:MMM) Shares Sold by Pure Financial Advisors LLC

Pure Financial Advisors LLC lessened its stake in shares of 3M (NYSE:MMM) by 34.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,602 shares of the conglomerate’s stock after selling 848 shares during the quarter. Pure Financial Advisors LLC’s holdings in 3M were worth $207,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. State Street Corp raised its holdings in shares of 3M by 1.1% during the 3rd quarter. State Street Corp now owns 27,194,612 shares of the conglomerate’s stock valued at $3,717,503,000 after buying an additional 302,900 shares during the period. FMR LLC grew its position in 3M by 88.7% in the third 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of 3M by 1.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,815,625 shares of the conglomerate’s stock valued at $521,596,000 after purchasing an additional 43,942 shares during the period. AQR Capital Management LLC lifted its position in shares of 3M by 18.6% during the second quarter. AQR Capital Management LLC now owns 2,531,422 shares of the conglomerate’s stock worth $258,686,000 after purchasing an additional 396,773 shares in the last quarter. Finally, National Pension Service boosted its stake in shares of 3M by 14.5% in the third quarter. National Pension Service now owns 1,268,003 shares of the conglomerate’s stock valued at $173,336,000 after purchasing an additional 161,036 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on MMM shares. Citigroup boosted their price objective on shares of 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a report on Wednesday. Melius raised 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Weiss Ratings restated a “hold (c)” rating on shares of 3M in a report on Saturday, January 18th. UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and increased their target price for the company from $130.00 to $184.00 in a research note on Wednesday, November 13th. Finally, Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $140.00 to $170.00 in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $148.87.

3M Stock Performance

Shares of MMM stock opened at $149.14 on Thursday. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41. The business has a 50 day moving average of $131.73 and a two-hundred day moving average of $128.53. The company has a market cap of $81.21 billion, a P/E ratio of 18.83, a PEG ratio of 2.30 and a beta of 0.95. 3M has a 52 week low of $75.40 and a 52 week high of $152.08.

3M (NYSE:MMM) last released its quarterly 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 business had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5,770,390 billion. 3M had a net margin of 15.37% and a return on equity of 104.66%. The company’s quarterly revenue was down 25.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.42 earnings per share. As a group, analysts anticipate that 3M will post 7.28 EPS for the current year.

3M Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.88%. 3M’s dividend payout ratio (DPR) is presently 35.35%.

3M 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.