Swedbank AB Cuts Position in 3M (NYSE:MMM)

Swedbank AB lowered its stake in shares of 3M (NYSE:MMM - Free Report) by 15.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 354,562 shares of the conglomerate's stock after selling 63,876 shares during the quarter. Swedbank AB owned approximately 0.07% of 3M worth $45,770,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Allen Capital Group LLC increased its stake in shares of 3M by 8.9% during the 4th quarter. Allen Capital Group LLC now owns 3,741 shares of the conglomerate's stock worth $483,000 after purchasing an additional 305 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in 3M by 16.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 637,499 shares of the conglomerate's stock worth $82,295,000 after buying an additional 88,225 shares during the last quarter. Twelve Points Wealth Management LLC raised its stake in shares of 3M by 21.8% in the fourth quarter. Twelve Points Wealth Management LLC now owns 5,671 shares of the conglomerate's stock valued at $732,000 after buying an additional 1,015 shares during the period. Stonegate Investment Group LLC lifted its position in shares of 3M by 3.5% during the 4th quarter. Stonegate Investment Group LLC now owns 261,782 shares of the conglomerate's stock valued at $33,793,000 after buying an additional 8,935 shares during the last quarter. Finally, Perigon Wealth Management LLC increased its holdings in 3M by 5.2% in the 4th quarter. Perigon Wealth Management LLC now owns 30,842 shares of the conglomerate's stock worth $4,293,000 after acquiring an additional 1,526 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company's stock.

3M Trading Up 1.4 %

Shares of 3M stock traded up $2.16 during trading on Thursday, reaching $153.70. The company's stock had a trading volume of 1,529,208 shares, compared to its average volume of 4,556,247. The company has a market cap of $83.70 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 2.46 and a beta of 0.95. The firm's 50-day moving average is $134.20 and its two-hundred day moving average is $130.37. 3M has a 52-week low of $75.40 and a 52-week high of $153.95. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86.

3M (NYSE:MMM - Get Free Report) last released its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping the consensus estimate of $1.66 by $0.02. The firm had revenue of $6.01 billion for 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 quarterly revenue was down 25.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.42 earnings per share. On average, sell-side analysts anticipate that 3M will post 7.66 earnings per share for the current year.

3M Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend was Friday, November 15th. 3M's payout ratio is 37.09%.

Insider Activity at 3M

In other 3M news, CAO Theresa E. Reinseth sold 2,309 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $149.95, for a total value of $346,234.55. Following the completion of the sale, the chief accounting officer now owns 4,417 shares in the company, valued at approximately $662,329.15. This trade represents a 34.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the company's stock in a transaction that occurred 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 transaction, the insider now owns 5,153 shares of the company's stock, valued at approximately $774,238.25. This represents a 24.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,291 shares of company stock worth $9,339,786 in the last three months. 0.34% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Mizuho upped their price objective on shares of 3M from $105.00 to $146.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. Wells Fargo & Company upgraded shares of 3M from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Royal Bank of Canada restated an "underperform" rating and set a $96.00 target price on shares of 3M in a research report on Wednesday, January 22nd. Melius upgraded 3M from a "hold" rating to a "buy" rating in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. lifted their target price on 3M from $162.00 to $165.00 and gave the company an "overweight" rating in a report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $148.87.

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.