Boston Trust Walden Corp Has $2.30 Million Position in 3M (NYSE:MMM)

Boston Trust Walden Corp lowered its position in shares of 3M (NYSE:MMM) by 7.3% in the fourth quarter, Holdings Channel reports. The firm owned 21,080 shares of the conglomerate’s stock after selling 1,661 shares during the period. Boston Trust Walden Corp’s holdings in 3M were worth $2,304,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in MMM. Financial Freedom LLC acquired a new position in shares of 3M in the fourth quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. acquired a new position in shares of 3M in the third quarter valued at approximately $28,000. Briaud Financial Planning Inc acquired a new position in shares of 3M in the third quarter valued at approximately $35,000. Authentikos Wealth Advisory LLC acquired a new position in shares of 3M in the third quarter valued at approximately $37,000. Finally, CGC Financial Services LLC boosted its holdings in shares of 3M by 89.9% in the fourth quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock valued at $37,000 after buying an additional 160 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Price Performance

NYSE MMM opened at $91.05 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 2.69. The firm’s fifty day moving average price is $96.26 and its two-hundred day moving average price is $97.47. 3M has a 1 year low of $71.12 and a 1 year high of $95.67.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.11. The firm had revenue of $8.01 billion for the quarter, compared to analyst estimates of $7.69 billion. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.28 earnings per share. Equities research analysts expect that 3M will post 8.97 earnings per share for the current year.

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th were given a $1.51 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from 3M’s previous quarterly dividend of $1.50. This represents a $6.04 annualized dividend and a dividend yield of 6.63%. 3M’s dividend payout ratio is presently -47.82%.

Insider Activity

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total value of $39,328.32. Following the transaction, the insider now directly owns 3,966 shares of the company’s stock, valued at $366,141.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

MMM has been the subject of several research analyst reports. Citigroup reduced their price target on shares of 3M from $117.00 to $104.00 and set a “neutral” rating for the company in a report on Wednesday, January 24th. StockNews.com began coverage on shares of 3M in a research report on Thursday. They issued a “buy” rating on the stock. Wells Fargo & Company cut their price objective on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 24th. Royal Bank of Canada cut their price objective on shares of 3M from $84.00 to $78.00 and set an “underperform” rating on the stock in a research report on Tuesday. Finally, Mizuho reissued a “neutral” rating and issued a $105.00 price objective on shares of 3M in a research report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $104.10.

3M Company Profile

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.