3M (NYSE:MMM) Shares Sold by CHICAGO TRUST Co NA

CHICAGO TRUST Co NA lowered its holdings in 3M (NYSE:MMM) by 5.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 11,352 shares of the conglomerate’s stock after selling 631 shares during the period. CHICAGO TRUST Co NA’s holdings in 3M were worth $1,465,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MMM. CVA Family Office LLC lifted its holdings in shares of 3M by 1.9% in the 3rd quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate’s stock worth $571,000 after purchasing an additional 79 shares during the last quarter. Harbour Investments Inc. grew its position in 3M by 0.8% in the 3rd quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate’s stock worth $1,443,000 after purchasing an additional 81 shares during the last quarter. KMG Fiduciary Partners LLC boosted its position in 3M by 0.5% during the 3rd quarter. KMG Fiduciary Partners LLC now owns 16,186 shares of the conglomerate’s stock worth $2,213,000 after acquiring an additional 84 shares during the period. TCV Trust & Wealth Management Inc. increased its stake in 3M by 1.3% during the 3rd quarter. TCV Trust & Wealth Management Inc. now owns 6,464 shares of the conglomerate’s stock valued at $884,000 after buying an additional 84 shares during the period. Finally, Weatherly Asset Management L. P. raised its position in shares of 3M by 3.3% during the 3rd quarter. Weatherly Asset Management L. P. now owns 2,730 shares of the conglomerate’s stock worth $373,000 after buying an additional 86 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Stock Performance

3M stock traded up $1.13 during mid-day trading on Monday, reaching $132.34. The company had a trading volume of 909,363 shares, compared to its average volume of 3,170,374. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41. The company has a 50 day moving average of $130.51 and a 200-day moving average of $126.65. 3M has a 52 week low of $75.40 and a 52 week high of $141.34. The firm has a market cap of $72.07 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 2.15 and a beta of 0.95.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.05. 3M had a net margin of 15.37% and a return on equity of 104.66%. The firm had revenue of $6.29 billion during the quarter, compared to analyst estimates of $6.06 billion. During the same quarter in the prior year, the business posted $2.68 earnings per share. The company’s quarterly revenue was down 24.3% compared to the same quarter last year. On average, sell-side analysts expect that 3M will post 7.27 EPS for the current fiscal year.

3M Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were paid a $0.70 dividend. The ex-dividend date was Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.12%. 3M’s dividend payout ratio (DPR) is presently 35.35%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MMM shares. Mizuho upped their price objective on 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Wells Fargo & Company lifted their price objective on shares of 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Barclays cut their target price on shares of 3M from $165.00 to $161.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Melius upgraded 3M from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. boosted their price objective on 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, 3M has a consensus rating of “Moderate Buy” and an average price target of $144.33.

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.