Baader Bank Aktiengesellschaft Has $2.36 Million Stake in 3M (NYSE:MMM)

Baader Bank Aktiengesellschaft trimmed its holdings in shares of 3M (NYSE:MMM - Free Report) by 17.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,299 shares of the conglomerate's stock after selling 3,906 shares during the period. Baader Bank Aktiengesellschaft's holdings in 3M were worth $2,362,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of MMM. FMR LLC raised its holdings in 3M by 88.7% in the third quarter. FMR LLC now owns 8,961,866 shares of the conglomerate's stock worth $1,225,087,000 after purchasing an additional 4,212,409 shares during the period. International Assets Investment Management LLC increased its position in shares of 3M by 11,601.2% during the third quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate's stock worth $172,416,000 after acquiring an additional 1,250,491 shares in the last quarter. Jennison Associates LLC bought a new position in 3M in the third quarter valued at $82,208,000. Parsifal Capital Management LP grew its position in 3M by 179.0% in the third quarter. Parsifal Capital Management LP now owns 820,094 shares of the conglomerate's stock valued at $112,107,000 after purchasing an additional 526,194 shares in the last quarter. Finally, Bank of Montreal Can grew its position in shares of 3M by 39.1% in the 3rd quarter. Bank of Montreal Can now owns 1,099,794 shares of the conglomerate's stock valued at $151,002,000 after acquiring an additional 308,912 shares during the period. 65.25% of the stock is owned by institutional investors.

Insider Activity at 3M

In other 3M news, EVP Kevin H. Rhodes sold 6,743 shares of the business's stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $149.85, for a total transaction of $1,010,438.55. Following the sale, the executive vice president now directly owns 4,902 shares of the company's stock, valued at $734,564.70. The trade was a 57.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the business's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $149.43, for a total transaction of $944,098.74. Following the sale, the insider now directly owns 5,024 shares in the company, valued at $750,736.32. The trade was a 55.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 62,291 shares of company stock valued at $9,339,786. 0.34% of the stock is owned by insiders.

3M Price Performance

MMM stock traded up $2.87 during mid-day trading on Thursday, hitting $154.41. The stock had a trading volume of 2,142,213 shares, compared to its average volume of 4,583,816. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. 3M has a 52 week low of $75.40 and a 52 week high of $154.65. The firm has a market capitalization of $84.09 billion, a P/E ratio of 20.45, a P/E/G ratio of 2.46 and a beta of 0.95. The firm has a fifty day simple moving average of $134.20 and a 200 day simple moving average of $130.37.

3M (NYSE:MMM - Get Free Report) last released its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, beating the consensus estimate of $1.66 by $0.02. 3M had a net margin of 15.71% and a return on equity of 100.77%. The firm had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.77 billion. During the same period last year, the firm earned $2.42 EPS. The business's quarterly revenue was down 25.0% compared to the same quarter last year. As a group, research analysts forecast that 3M will post 7.66 EPS for the current year.

3M Announces Dividend

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. This represents a $2.80 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend was Friday, November 15th. 3M's dividend payout ratio (DPR) is presently 37.09%.

Analysts Set New Price Targets

A number of research analysts have recently commented on MMM shares. Barclays lifted their price objective 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. Mizuho raised their target price on shares of 3M from $105.00 to $146.00 and gave the stock a "neutral" rating in a research note on Thursday, October 17th. Citigroup raised 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. JPMorgan Chase & Co. raised their target price on shares of 3M from $162.00 to $165.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 22nd. Finally, UBS Group upgraded shares of 3M from a "neutral" rating to a "buy" rating and raised their target price for the stock from $130.00 to $184.00 in a research note on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $148.87.

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.