Teza Capital Management LLC Has $540,000 Holdings in 3M Company $MMM

Teza Capital Management LLC cut its stake in shares of 3M Company (NYSE:MMM) by 59.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,677 shares of the conglomerate’s stock after selling 5,473 shares during the period. Teza Capital Management LLC’s holdings in 3M were worth $540,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MMM. REAP Financial Group LLC grew its stake in 3M by 88.7% in the fourth quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate’s stock valued at $26,000 after acquiring an additional 94 shares during the period. Pinney & Scofield Inc. bought a new stake in 3M during the fourth quarter worth about $28,000. Caitong International Asset Management Co. Ltd bought a new stake in 3M during the first quarter worth about $28,000. WPG Advisers LLC acquired a new position in 3M during the first quarter worth approximately $28,000. Finally, Curat Global LLC acquired a new position in 3M during the first quarter worth approximately $29,000. 65.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MMM shares. Wells Fargo & Company reaffirmed an “overweight” rating on shares of 3M in a research report on Friday, July 18th. JPMorgan Chase & Co. set a $167.00 price target on 3M in a research report on Friday, July 18th. Barclays set a $170.00 target price on 3M in a research note on Friday, July 18th. Weiss Ratings restated a “hold (c+)” rating on shares of 3M in a research note on Saturday, August 30th. Finally, Citigroup increased their price target on 3M from $141.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, May 30th. Seven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, 3M presently has an average rating of “Moderate Buy” and a consensus price target of $161.78.

3M Stock Performance

Shares of MMM opened at $155.29 on Monday. The company has a debt-to-equity ratio of 2.87, a current ratio of 1.72 and a quick ratio of 1.20. The stock has a 50-day moving average of $153.80 and a 200-day moving average of $147.66. The company has a market cap of $82.71 billion, a PE ratio of 21.60, a P/E/G ratio of 2.82 and a beta of 1.04. 3M Company has a one year low of $121.98 and a one year high of $164.15.

3M (NYSE:MMM) last announced its quarterly earnings results on Friday, July 18th. The conglomerate reported $2.16 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.15. 3M had a net margin of 16.01% and a return on equity of 96.48%. The business had revenue of $6.16 billion for the quarter, compared to analysts’ expectations of $6.09 billion. During the same quarter last year, the firm earned $1.93 EPS. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. On average, equities research analysts predict that 3M Company will post 7.8 EPS for the current fiscal year.

3M Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Monday, August 25th will be issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, August 25th. 3M’s payout ratio is 40.61%.

Insider Buying and Selling

In other news, insider Christian T. Goralski, Jr. sold 6,165 shares of the business’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $150.18, for a total transaction of $925,859.70. Following the completion of the transaction, the insider directly owned 2,900 shares in the company, valued at $435,522. The trade was a 68.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Theresa E. Reinseth sold 3,477 shares of the business’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $150.63, for a total transaction of $523,740.51. Following the transaction, the chief accounting officer owned 2,561 shares of the company’s stock, valued at $385,763.43. This trade represents a 57.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

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.