Banco Bilbao Vizcaya Argentaria S.A. Decreases Stock Holdings in 3M (NYSE:MMM)

Banco Bilbao Vizcaya Argentaria S.A. reduced its stake in 3M (NYSE:MMM - Free Report) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 136,700 shares of the conglomerate's stock after selling 2,081 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in 3M were worth $17,647,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Financial Life Planners acquired a new position in shares of 3M during the fourth quarter valued at about $25,000. Proficio Capital Partners LLC purchased a new stake in shares of 3M in the fourth quarter worth approximately $26,000. Hazlett Burt & Watson Inc. bought a new position in shares of 3M in the fourth quarter valued at approximately $27,000. Daymark Wealth Partners LLC boosted its position in shares of 3M by 9.0% during the fourth quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate's stock valued at $31,000 after buying an additional 19,552 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its holdings in 3M by 230.1% during the fourth quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate's stock worth $40,000 after buying an additional 214 shares in the last quarter. Institutional investors own 65.25% of the company's stock.

3M Stock Performance

Shares of NYSE:MMM traded up $0.56 during trading on Monday, hitting $137.88. 2,499,254 shares of the company were exchanged, compared to its average volume of 4,169,131. 3M has a 52-week low of $91.56 and a 52-week high of $156.35. The stock has a 50 day moving average of $143.15 and a 200 day moving average of $138.27. 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 company has a market cap of $74.20 billion, a PE ratio of 18.26, a P/E/G ratio of 3.30 and a beta of 1.01.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.77 by $0.11. The business had revenue of $5.80 billion for the quarter, compared to analysts' expectations of $5.78 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. As a group, equities research analysts predict that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date was Friday, February 14th. This is a positive change from 3M's previous quarterly dividend of $0.70. 3M's dividend payout ratio is 36.87%.

Insiders Place Their Bets

In other 3M news, EVP Victoria Clarke sold 1,750 shares of the company's 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 directly owns 194 shares in the company, valued at $29,918.68. This represents a 90.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Michael F. Roman sold 49,598 shares of the business's stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $152.30, for a total transaction of $7,553,775.40. Following the completion of the transaction, the chairman now directly owns 180,895 shares of the company's stock, valued at approximately $27,550,308.50. This represents a 21.52 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Bank of America upped their target price on shares of 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Citigroup dropped their target price on shares of 3M from $152.00 to $142.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a report on Thursday. JPMorgan Chase & Co. dropped their price target on 3M from $165.00 to $140.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Wells Fargo & Company raised shares of 3M from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $140.00 to $170.00 in a report on Wednesday, January 22nd. Two 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 company has a consensus rating of "Moderate Buy" and a consensus price target of $147.00.

About 3M

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.