Duncker Streett & Co. Inc. Has $620,000 Holdings in 3M (NYSE:MMM)

Duncker Streett & Co. Inc. lessened its stake in 3M (NYSE:MMM) by 9.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 5,672 shares of the conglomerate’s stock after selling 602 shares during the quarter. Duncker Streett & Co. Inc.’s holdings in 3M were worth $620,000 as of its most recent SEC filing.

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 3M during the third quarter worth $37,000. Finally, CGC Financial Services LLC boosted its holdings in 3M by 89.9% during the fourth quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock worth $37,000 after purchasing an additional 160 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Insiders Place Their Bets

In other 3M 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 transaction of $39,328.32. Following the sale, the insider now directly owns 3,966 shares in the company, valued at $366,141.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.38% of the company’s stock.

3M Stock Performance

NYSE:MMM traded down $0.25 during mid-day trading on Wednesday, reaching $91.05. 3,036,971 shares of the company’s stock were exchanged, compared to its average volume of 5,144,722. 3M has a one year low of $71.12 and a one year high of $95.67. The firm has a market capitalization of $50.38 billion, a PE ratio of -7.21, a price-to-earnings-growth ratio of 1.61 and a beta of 1.02. The business’s fifty day simple moving average is $95.87 and its two-hundred day simple moving average is $97.31. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.76 and a current ratio of 1.07.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.11. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The business had revenue of $8.01 billion for the quarter, compared to analyst estimates of $7.69 billion. During the same period last year, the firm earned $2.28 earnings per share. 3M’s revenue for the quarter was down 1.1% compared to the same quarter last year. Analysts anticipate that 3M will post 8.79 earnings per share for the current fiscal year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 6.63%. This is an increase from 3M’s previous quarterly dividend of $1.50. The ex-dividend date was Thursday, February 15th. 3M’s dividend payout ratio is presently -47.82%.

Wall Street Analysts Forecast Growth

MMM has been the subject of several recent research reports. Wells Fargo & Company reduced their target price on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a report on Wednesday, January 24th. Mizuho restated a “neutral” rating and set a $105.00 target price on shares of 3M in a report on Wednesday, March 27th. Royal Bank of Canada reduced their target price on shares of 3M from $84.00 to $78.00 and set an “underperform” rating for the company in a report on Tuesday, April 2nd. Barclays reduced their target price on shares of 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a report on Tuesday, April 2nd. Finally, Citigroup increased their target price on shares of 3M from $95.31 to $98.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $103.50.

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.