3M (NYSE:MMM) Shares Sold by B. Metzler seel. Sohn & Co. AG

B. Metzler seel. Sohn & Co. AG reduced its stake in shares of 3M (NYSE:MMM - Free Report) by 9.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 20,717 shares of the conglomerate's stock after selling 2,238 shares during the period. B. Metzler seel. Sohn & Co. AG's holdings in 3M were worth $2,674,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Financial Life Planners purchased a new stake in 3M during the fourth quarter worth $25,000. Hazlett Burt & Watson Inc. purchased a new stake in shares of 3M during the 4th quarter worth about $27,000. Meeder Asset Management Inc. grew its position in shares of 3M by 230.1% during the 4th quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate's stock valued at $40,000 after acquiring an additional 214 shares during the period. ORG Partners LLC increased its stake in shares of 3M by 44.1% in the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate's stock valued at $41,000 after purchasing an additional 98 shares in the last quarter. Finally, Catalyst Capital Advisors LLC raised its holdings in 3M by 81.5% in the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the conglomerate's stock worth $47,000 after purchasing an additional 163 shares during the period. Hedge funds and other institutional investors own 65.25% of the company's stock.

3M Price Performance

Shares of NYSE:MMM traded down $8.00 during midday trading on Thursday, hitting $139.76. The company had a trading volume of 6,710,493 shares, compared to its average volume of 4,089,984. 3M has a twelve month low of $89.54 and a twelve month high of $156.35. The stock has a market cap of $75.38 billion, a price-to-earnings ratio of 18.51, a price-to-earnings-growth ratio of 3.30 and a beta of 0.97. 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 50-day simple moving average is $149.71 and its 200-day simple moving average is $138.56.

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3M (NYSE:MMM - Get Free Report) last issued its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.66 by $0.02. The business had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. The company's revenue for the quarter was down 25.0% on a year-over-year basis. During the same period last year, the company earned $2.42 EPS. On average, research analysts predict that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th were issued a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 2.09%. This is a positive change from 3M's previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, February 14th. 3M's payout ratio is presently 38.68%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Bank of America boosted their price objective on 3M from $175.00 to $179.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. JPMorgan Chase & Co. boosted their price target on shares of 3M from $162.00 to $165.00 and gave the stock an "overweight" rating in a report on Wednesday, January 22nd. Citigroup increased their price objective on shares of 3M from $142.00 to $152.00 and gave the company a "neutral" rating in a report on Wednesday, January 22nd. Royal Bank of Canada reiterated an "underperform" rating and issued a $96.00 target price on shares of 3M in a research report on Thursday, February 27th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a research report on Saturday, March 22nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, 3M currently has an average rating of "Moderate Buy" and an average target price of $149.13.

Insider Activity

In related news, EVP Victoria Clarke sold 1,750 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $154.22, for a total value of $269,885.00. Following the completion of the transaction, the executive vice president now directly owns 194 shares in the company, valued at approximately $29,918.68. This represents a 90.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of 3M stock in a transaction on Monday, January 27th. The shares were sold at an average price of $150.25, for a total value of $247,161.25. Following the completion of the sale, the insider now owns 5,153 shares in the company, valued at $774,238.25. This represents a 24.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,639 shares of company stock valued at $17,163,446 in the last 90 days. Company insiders own 0.34% of the company's stock.

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.