Country Club Bank GFN Has $669,000 Stock Holdings in 3M (NYSE:MMM)

Country Club Bank GFN decreased its position in shares of 3M (NYSE:MMMFree Report) by 51.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,100 shares of the conglomerate’s stock after selling 6,461 shares during the period. Country Club Bank GFN’s holdings in 3M were worth $669,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in MMM. Vanguard Group Inc. lifted its stake in 3M by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 49,033,679 shares of the conglomerate’s stock valued at $4,590,533,000 after purchasing an additional 317,483 shares during the last quarter. State Street Corp lifted its stake in 3M by 0.6% in the 2nd quarter. State Street Corp now owns 33,311,747 shares of the conglomerate’s stock valued at $3,334,173,000 after purchasing an additional 196,238 shares during the last quarter. Geode Capital Management LLC lifted its stake in 3M by 5.7% in the 1st quarter. Geode Capital Management LLC now owns 11,474,791 shares of the conglomerate’s stock valued at $1,203,635,000 after purchasing an additional 619,370 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in 3M by 7.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 11,315,417 shares of the conglomerate’s stock valued at $1,684,639,000 after purchasing an additional 758,126 shares during the last quarter. Finally, Morgan Stanley lifted its stake in 3M by 8.3% in the 4th quarter. Morgan Stanley now owns 10,769,973 shares of the conglomerate’s stock valued at $1,291,535,000 after purchasing an additional 825,223 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Trading Down 1.2 %

Shares of NYSE MMM opened at $92.86 on Wednesday. 3M has a twelve month low of $71.12 and a twelve month high of $94.42. The firm has a fifty day simple moving average of $96.54 and a 200 day simple moving average of $97.68. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.07 and a quick ratio of 0.76.

3M (NYSE:MMMGet Free Report) last announced its earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.11. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The business had revenue of $8.01 billion during the quarter, compared to the consensus estimate of $7.69 billion. During the same quarter last year, the firm earned $2.28 earnings per share. 3M’s quarterly revenue was down 1.1% on a year-over-year basis. On average, equities research analysts predict that 3M will post 9.77 EPS for the current fiscal year.

3M Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 6.50%. This is a boost from 3M’s previous quarterly dividend of $1.50. The ex-dividend date was Thursday, February 15th. 3M’s dividend payout ratio (DPR) is presently -47.82%.

Analyst Ratings Changes

MMM has been the subject of several research reports. Citigroup dropped their price objective on shares of 3M from $117.00 to $104.00 and set a “neutral” rating for the company in a research note on Wednesday, January 24th. Bank of America dropped their price target on shares of 3M from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Tuesday. Mizuho reaffirmed a “neutral” rating and set a $105.00 price target on shares of 3M in a research note on Wednesday, March 27th. Barclays dropped their price target on shares of 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Royal Bank of Canada dropped their price target on shares of 3M from $84.00 to $78.00 and set an “underperform” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $104.10.

Check Out Our Latest Stock Analysis on 3M

Insiders Place Their Bets

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total value of $39,328.32. Following the completion of the sale, the insider now directly owns 3,966 shares in the company, valued at $366,141.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.51% of the company’s stock.

3M Company Profile

(Free Report)

3M Company provides diversified technology services in the United States and internationally. The company operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The 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.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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