3M (NYSE:MMM) Shares Sold by Acropolis Investment Management LLC

Acropolis Investment Management LLC cut its holdings in shares of 3M (NYSE:MMM) by 26.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,892 shares of the conglomerate’s stock after selling 2,517 shares during the period. Acropolis Investment Management LLC’s holdings in 3M were worth $890,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. American Century Companies Inc. raised its stake in shares of 3M by 0.8% during the 2nd quarter. American Century Companies Inc. now owns 82,161 shares of the conglomerate’s stock worth $8,396,000 after buying an additional 650 shares during the period. Thoroughbred Financial Services LLC acquired a new position in 3M during the second quarter worth $502,000. Envestnet Asset Management Inc. lifted its holdings in 3M by 1.6% during the second quarter. Envestnet Asset Management Inc. now owns 529,892 shares of the conglomerate’s stock valued at $54,150,000 after purchasing an additional 8,301 shares in the last quarter. Brown Brothers Harriman & Co. grew its position in shares of 3M by 0.4% in the second quarter. Brown Brothers Harriman & Co. now owns 22,613 shares of the conglomerate’s stock valued at $2,311,000 after purchasing an additional 97 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of 3M by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,940,202 shares of the conglomerate’s stock worth $198,298,000 after purchasing an additional 11,315 shares in the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Price Performance

Shares of MMM stock opened at $137.35 on Wednesday. The firm’s 50-day moving average is $130.90 and its two-hundred day moving average is $127.12. 3M has a 12 month low of $75.40 and a 12 month high of $141.34. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.43 and a quick ratio of 1.08. The company has a market capitalization of $74.80 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 2.15 and a beta of 0.95.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.05. The firm had revenue of $6.29 billion for the quarter, compared to analysts’ expectations of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. The firm’s quarterly revenue was down 24.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.68 earnings per share. Analysts predict that 3M will post 7.27 earnings per share for the current year.

3M Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend was Friday, November 15th. 3M’s payout ratio is 35.35%.

Analyst Ratings Changes

A number of brokerages recently weighed in on MMM. Royal Bank of Canada decreased their price target on shares of 3M from $100.00 to $96.00 and set an “underperform” rating on the stock in a research note on Friday, January 3rd. Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their price target on 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Melius upgraded 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company upped their target price on shares of 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, 3M has a consensus rating of “Moderate Buy” and a consensus price target of $144.33.

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.