Siemens Fonds Invest GmbH Cuts Stake in 3M (NYSE:MMM)

Siemens Fonds Invest GmbH trimmed its position in shares of 3M (NYSE:MMM) by 97.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 491 shares of the conglomerate’s stock after selling 17,456 shares during the quarter. Siemens Fonds Invest GmbH’s holdings in 3M were worth $63,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Shell Asset Management Co. purchased a new stake in 3M during the 4th quarter valued at about $717,000. Silvercrest Asset Management Group LLC boosted its holdings in shares of 3M by 3.2% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 41,418 shares of the conglomerate’s stock valued at $5,347,000 after acquiring an additional 1,303 shares during the last quarter. Rafferty Asset Management LLC boosted its holdings in shares of 3M by 10.4% during the 4th quarter. Rafferty Asset Management LLC now owns 50,861 shares of the conglomerate’s stock valued at $6,566,000 after acquiring an additional 4,799 shares during the last quarter. Raiffeisen Bank International AG purchased a new stake in shares of 3M during the 4th quarter valued at about $2,258,000. Finally, Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of 3M by 97.9% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 13,652 shares of the conglomerate’s stock valued at $1,762,000 after acquiring an additional 6,752 shares during the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MMM. Citigroup dropped their price target on shares of 3M from $152.00 to $142.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $140.00 to $170.00 in a report on Wednesday, January 22nd. Barclays raised their price target on shares of 3M from $160.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday, April 23rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of 3M in a report on Saturday, May 10th. Finally, Bank of America increased their price objective on shares of 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $152.08.

3M Price Performance

NYSE MMM opened at $153.11 on Monday. 3M has a 12 month low of $96.76 and a 12 month high of $156.35. The stock has a market cap of $82.40 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 3.30 and a beta of 1.02. The company’s 50 day moving average is $141.60 and its two-hundred day moving average is $139.47. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86.

3M (NYSE:MMM) last released its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.11. 3M had a net margin of 15.71% and a return on equity of 100.77%. The company had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.78 billion. As a group, research analysts anticipate that 3M will post 7.8 earnings per share for the current year.

3M Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be paid a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 1.91%. 3M’s payout ratio is 36.87%.

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.