International Assets Investment Management LLC Has $927,000 Position in 3M (NYSE:MMM)

International Assets Investment Management LLC lowered its holdings in 3M (NYSE:MMM - Free Report) by 99.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,144 shares of the conglomerate's stock after selling 1,254,126 shares during the period. International Assets Investment Management LLC's holdings in 3M were worth $927,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. FSA Wealth Management LLC purchased a new position in shares of 3M in the third quarter valued at $27,000. McClarren Financial Advisors Inc. increased its position in shares of 3M by 118.6% during the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate's stock worth $30,000 after acquiring an additional 121 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in shares of 3M by 689.7% in the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate's stock worth $31,000 after acquiring an additional 269 shares in the last quarter. True Wealth Design LLC boosted its holdings in 3M by 2,466.7% in the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate's stock valued at $42,000 after purchasing an additional 296 shares during the last quarter. Finally, Northwest Investment Counselors LLC acquired a new stake in 3M during the 3rd quarter valued at approximately $57,000. Institutional investors and hedge funds own 65.25% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MMM. JPMorgan Chase & Co. raised their price target on shares of 3M from $160.00 to $165.00 and gave the stock an "overweight" rating in a research report on Monday, October 28th. Bank of America boosted their target price on shares of 3M from $143.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. UBS Group upgraded 3M from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $130.00 to $184.00 in a research note on Wednesday, November 13th. Melius Research raised 3M from a "hold" rating to a "buy" rating and set a $180.00 price objective for the company in a report on Tuesday, October 22nd. Finally, Melius raised 3M from a "hold" rating to a "buy" rating in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, 3M currently has an average rating of "Moderate Buy" and a consensus price target of $144.33.

3M Stock Performance

NYSE MMM traded down $3.40 on Friday, hitting $131.13. The stock had a trading volume of 4,661,681 shares, compared to its average volume of 3,557,029. The company's 50-day moving average is $130.44 and its two-hundred day moving average is $126.11. 3M has a one year low of $75.40 and a one year high of $141.34. The stock has a market cap of $71.41 billion, a price-to-earnings ratio of 16.56, a P/E/G ratio of 2.15 and a beta of 0.95. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, beating analysts' consensus estimates of $1.93 by $0.05. 3M had a net margin of 15.37% and a return on equity of 104.66%. The business had revenue of $6.29 billion for the quarter, compared to analysts' expectations of $6.06 billion. During the same period in the previous year, the business earned $2.68 earnings per share. The company's revenue was down 24.3% on a year-over-year basis. On average, analysts expect that 3M will post 7.27 earnings per share for the current year.

3M Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend was Friday, November 15th. 3M's dividend payout ratio is presently 35.35%.

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.