3M (NYSE:MMM) Shares Sold by Carr Financial Group Corp

Carr Financial Group Corp decreased its stake in shares of 3M (NYSE:MMM) by 22.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,647 shares of the conglomerate’s stock after selling 787 shares during the period. Carr Financial Group Corp’s holdings in 3M were worth $362,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of MMM. Capital World Investors acquired a new stake in 3M during the 1st quarter worth approximately $165,986,000. International Assets Investment Management LLC increased its position in shares of 3M by 11,601.2% in the third quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate’s stock worth $172,416,000 after acquiring an additional 1,250,491 shares in the last quarter. National Bank of Canada FI raised its stake in shares of 3M by 218.3% in the 1st quarter. National Bank of Canada FI now owns 1,489,351 shares of the conglomerate’s stock valued at $147,344,000 after acquiring an additional 1,021,440 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of 3M by 1,015.6% during the 1st quarter. Janus Henderson Group PLC now owns 888,564 shares of the conglomerate’s stock valued at $94,247,000 after acquiring an additional 808,914 shares in the last quarter. Finally, Electron Capital Partners LLC purchased a new stake in 3M during the 2nd quarter worth $76,732,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Trading Up 1.0 %

NYSE:MMM opened at $134.34 on Friday. The company has a market cap of $73.16 billion, a PE ratio of 16.96, a P/E/G ratio of 2.22 and a beta of 0.95. The business’s 50 day moving average is $132.82 and its two-hundred day moving average is $116.50. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41. 3M has a 52 week low of $75.40 and a 52 week high of $141.34.

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

3M Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a $0.70 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a yield of 2.08%. 3M’s payout ratio is currently 35.35%.

Wall Street Analyst Weigh In

Several research firms have commented on MMM. Barclays raised their price objective on 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company raised their target price on 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Royal Bank of Canada upped their price target on 3M from $99.00 to $100.00 and gave the stock an “underperform” rating in a report on Wednesday, October 23rd. Melius raised shares of 3M from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Finally, Mizuho upped their target price on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $139.27.

3M 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.