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

Baader Bank Aktiengesellschaft cut its holdings in 3M (NYSE:MMM) by 17.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 18,299 shares of the conglomerate’s stock after selling 3,906 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in 3M were worth $2,362,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of MMM. State Street Corp raised its holdings in shares of 3M by 1.1% during the third quarter. State Street Corp now owns 27,194,612 shares of the conglomerate’s stock worth $3,717,503,000 after acquiring an additional 302,900 shares during the period. FMR LLC raised its stake in shares of 3M by 88.7% in the 3rd quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock valued at $1,225,087,000 after purchasing an additional 4,212,409 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of 3M by 1.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,815,625 shares of the conglomerate’s stock valued at $521,596,000 after purchasing an additional 43,942 shares in the last quarter. National Pension Service boosted its position in shares of 3M by 14.5% during the third quarter. National Pension Service now owns 1,268,003 shares of the conglomerate’s stock worth $173,336,000 after buying an additional 161,036 shares during the period. Finally, International Assets Investment Management LLC grew its holdings 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 buying an additional 1,250,491 shares in the last quarter. 65.25% of the stock is owned by institutional investors.

3M Stock Up 0.1 %

Shares of MMM opened at $151.55 on Thursday. The firm’s 50-day simple moving average is $133.72 and its 200 day simple moving average is $130.23. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The firm has a market cap of $82.53 billion, a P/E ratio of 20.07, a price-to-earnings-growth ratio of 2.46 and a beta of 0.95. 3M has a 52 week low of $75.40 and a 52 week high of $152.96.

3M (NYSE:MMM) last announced its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. The company had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. The firm’s quarterly revenue was down 25.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.42 earnings per share. On average, analysts forecast that 3M will post 7.66 earnings per share for the current year.

3M Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.80 annualized dividend and a dividend yield of 1.85%. 3M’s dividend payout ratio (DPR) is presently 37.09%.

Analyst Ratings Changes

MMM has been the topic of several research reports. Weiss Ratings restated a “hold (c)” rating on shares of 3M in a research note on Saturday, January 18th. Barclays raised their target price 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. 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 research report on Wednesday, January 22nd. Melius Research raised 3M from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada reissued an “underperform” rating and set a $96.00 price target on shares of 3M in a research report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, 3M has an average rating of “Moderate Buy” and an average price target of $148.87.

Insider Buying and Selling

In other 3M news, EVP Kevin H. Rhodes sold 6,743 shares of 3M stock in a transaction on Monday, January 27th. The stock was sold at an average price of $149.85, for a total value of $1,010,438.55. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $150.25, for a total value of $247,161.25. Following the sale, the insider now directly owns 5,153 shares in the company, valued at approximately $774,238.25. This trade represents a 24.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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 company insiders.

3M 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.