Excalibur Management Corp Trims Holdings in 3M (NYSE:MMM)

Excalibur Management Corp lessened its holdings in shares of 3M (NYSE:MMM) by 1.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,955 shares of the conglomerate’s stock after selling 183 shares during the period. Excalibur Management Corp’s holdings in 3M were worth $1,285,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Financial Life Planners bought a new stake in shares of 3M during the 4th quarter worth $25,000. FSA Wealth Management LLC acquired a new position in 3M in the 3rd quarter valued at $27,000. True Wealth Design LLC grew its stake in shares of 3M by 2,466.7% in the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock worth $42,000 after acquiring an additional 296 shares during the last quarter. ORG Partners LLC lifted its position in shares of 3M by 44.1% in the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after acquiring an additional 98 shares during the period. Finally, Catalyst Capital Advisors LLC raised its position in 3M by 81.5% in the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the conglomerate’s stock worth $47,000 after purchasing an additional 163 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Victoria Clarke sold 1,750 shares of 3M stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $154.22, for a total value of $269,885.00. Following the sale, the executive vice president now owns 194 shares of the company’s stock, valued at $29,918.68. The trade was a 90.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Theresa E. Reinseth sold 2,309 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $149.95, for a total transaction of $346,234.55. Following the completion of the sale, the chief accounting officer now owns 4,417 shares in the company, valued at $662,329.15. This represents a 34.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,639 shares of company stock worth $17,163,446. 0.34% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Weiss Ratings restated a “hold (c+)” rating on shares of 3M in a research report on Saturday. Citigroup boosted their price target on 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Barclays upped their price objective on shares of 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. JPMorgan Chase & Co. boosted their price target on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Finally, Royal Bank of Canada restated an “underperform” rating and set a $96.00 price objective on shares of 3M in a research report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $149.13.

3M Price Performance

MMM stock opened at $153.53 on Wednesday. The firm has a market capitalization of $83.35 billion, a P/E ratio of 20.34, a price-to-earnings-growth ratio of 3.30 and a beta of 0.97. 3M has a 52 week low of $85.62 and a 52 week high of $156.35. The company has a fifty day simple moving average of $149.05 and a two-hundred day simple moving average of $137.88. 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 issued its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. 3M had a net margin of 15.71% and a return on equity of 100.77%. The business had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.77 billion. During the same period in the prior year, the firm earned $2.42 EPS. The company’s revenue for the quarter was down 25.0% compared to the same quarter last year. Analysts anticipate that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were paid a $0.73 dividend. This is an increase from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Friday, February 14th. 3M’s dividend payout ratio is currently 38.68%.

3M Company 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.