Becker Capital Management Inc. Has $3.93 Million Holdings in 3M (NYSE:MMM)

Becker Capital Management Inc. trimmed its stake in 3M (NYSE:MMM) by 26.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,422 shares of the conglomerate’s stock after selling 11,158 shares during the period. Becker Capital Management Inc.’s holdings in 3M were worth $3,927,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Tudor Financial Inc. bought a new position in shares of 3M during the third quarter worth about $259,000. World Investment Advisors LLC raised its holdings in 3M by 22.4% during the 3rd quarter. World Investment Advisors LLC now owns 11,768 shares of the conglomerate’s stock worth $1,609,000 after purchasing an additional 2,155 shares during the last quarter. Wilmington Savings Fund Society FSB raised its holdings in 3M by 255.1% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 78,978 shares of the conglomerate’s stock worth $10,796,000 after purchasing an additional 56,734 shares during the last quarter. Tidal Investments LLC lifted its position in shares of 3M by 44.7% in the 3rd quarter. Tidal Investments LLC now owns 72,733 shares of the conglomerate’s stock worth $9,943,000 after purchasing an additional 22,461 shares during the period. Finally, Peapack Gladstone Financial Corp boosted its stake in shares of 3M by 0.7% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 116,993 shares of the conglomerate’s stock valued at $15,993,000 after purchasing an additional 830 shares during the last quarter. 65.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MMM. Royal Bank of Canada boosted their target price on shares of 3M from $98.00 to $100.00 and gave the company an “underperform” rating in a report on Wednesday, April 23rd. JPMorgan Chase & Co. cut their target price on 3M from $165.00 to $140.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Barclays lifted their target price on 3M from $160.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, April 23rd. Bank of America raised their price objective on shares of 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Finally, Wells Fargo & Company upgraded shares of 3M from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, 3M has an average rating of “Moderate Buy” and a consensus target price of $147.00.

3M Stock Up 0.3 %

MMM stock opened at $138.36 on Wednesday. The stock’s 50 day moving average is $142.69 and its 200-day moving average is $138.29. 3M has a twelve month low of $93.78 and a twelve month high of $156.35. The firm has a market capitalization of $74.46 billion, a PE ratio of 18.33, a P/E/G ratio of 3.30 and a beta of 1.01. 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) last posted 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 firm had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.78 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. Sell-side analysts expect that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th were paid a $0.73 dividend. This is a positive change from 3M’s previous quarterly dividend of $0.70. The ex-dividend date was Friday, February 14th. This represents a $2.92 annualized dividend and a yield of 2.11%. 3M’s dividend payout ratio (DPR) is 36.87%.

Insiders Place Their Bets

In related news, EVP Victoria Clarke sold 1,750 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $154.22, for a total transaction of $269,885.00. Following the completion of the sale, the executive vice president now directly owns 194 shares of the company’s stock, valued at approximately $29,918.68. This trade represents a 90.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.34% of the company’s stock.

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.