Groupama Asset Managment Sells 9,982 Shares of 3M Company $MMM

Groupama Asset Managment reduced its stake in 3M Company (NYSE:MMM) by 61.7% during the 1st quarter, Holdings Channel reports. The firm owned 6,192 shares of the conglomerate’s stock after selling 9,982 shares during the period. Groupama Asset Managment’s holdings in 3M were worth $897,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new position in 3M in the first quarter valued at about $28,000. REAP Financial Group LLC grew its position in shares of 3M by 88.7% during the 4th quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate’s stock worth $26,000 after buying an additional 94 shares during the period. Curat Global LLC acquired a new position in shares of 3M during the 1st quarter worth about $29,000. Pinney & Scofield Inc. acquired a new position in shares of 3M during the 4th quarter worth about $28,000. Finally, Intelligent Financial Strategies acquired a new position in shares of 3M during the 1st quarter worth about $42,000. 65.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MMM has been the subject of several analyst reports. Royal Bank Of Canada boosted their target price on 3M from $98.00 to $100.00 and gave the stock an “underperform” rating in a research report on Wednesday, April 23rd. Wells Fargo & Company restated an “overweight” rating on shares of 3M in a research report on Friday, July 18th. Citigroup upped their price objective on shares of 3M from $141.00 to $160.00 and gave the company a “neutral” rating in a research report on Friday, May 30th. JPMorgan Chase & Co. set a $167.00 price objective on shares of 3M in a research report on Friday, July 18th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of 3M in a research report on Thursday, August 14th. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, 3M presently has an average rating of “Hold” and an average price target of $158.10.

3M Price Performance

MMM stock opened at $154.6140 on Thursday. The stock has a 50-day moving average price of $151.48 and a two-hundred day moving average price of $147.22. The stock has a market cap of $82.35 billion, a PE ratio of 21.50, a price-to-earnings-growth ratio of 2.99 and a beta of 1.05. The company has a current ratio of 1.72, a quick ratio of 1.20 and a debt-to-equity ratio of 2.87. 3M Company has a 1 year low of $121.98 and a 1 year high of $164.15.

3M (NYSE:MMM) last released its earnings results on Friday, July 18th. The conglomerate reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.15. The firm had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $6.09 billion. 3M had a return on equity of 96.48% and a net margin of 16.01%.The company’s revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.93 EPS. Equities analysts forecast that 3M Company will post 7.8 EPS for the current fiscal year.

3M Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Monday, August 25th will be issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 1.9%. 3M’s dividend payout ratio (DPR) is presently 40.61%.

Insiders Place Their Bets

In other 3M news, CAO Theresa E. Reinseth sold 3,477 shares of the stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $150.63, for a total transaction of $523,740.51. Following the completion of the transaction, the chief accounting officer owned 2,561 shares in the company, valued at approximately $385,763.43. This represents a 57.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christian T. Goralski, Jr. sold 6,165 shares of the stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $150.18, for a total value of $925,859.70. Following the transaction, the insider owned 2,900 shares of the company’s stock, valued at approximately $435,522. This trade represents a 68.01% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,401 shares of company stock worth $2,600,803. Corporate insiders own 0.34% of the company’s stock.

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.