3M (NYSE:MMM) Shares Sold by Norden Group LLC

Norden Group LLC decreased its holdings in shares of 3M (NYSE:MMM) by 19.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 4,412 shares of the conglomerate’s stock after selling 1,032 shares during the period. Norden Group LLC’s holdings in 3M were worth $482,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Steele Capital Management Inc. bought a new position in shares of 3M in the fourth quarter valued at approximately $328,000. Crew Capital Management Ltd. acquired a new stake in shares of 3M in the fourth quarter worth $287,000. Choreo LLC lifted its position in 3M by 7.9% during the 4th quarter. Choreo LLC now owns 53,854 shares of the conglomerate’s stock worth $5,887,000 after acquiring an additional 3,927 shares during the last quarter. Mather Group LLC. boosted its stake in 3M by 5.0% during the 4th quarter. Mather Group LLC. now owns 127,333 shares of the conglomerate’s stock valued at $13,920,000 after purchasing an additional 6,021 shares during the period. Finally, Gilbert & Cook Inc. bought a new stake in shares of 3M in the fourth quarter valued at approximately $481,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on MMM. Barclays decreased their price objective on 3M from $126.00 to $107.00 and set an “overweight” rating on the stock in a report on Tuesday, April 2nd. JPMorgan Chase & Co. raised shares of 3M from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $110.00 to $111.00 in a report on Wednesday. Wells Fargo & Company lowered their price target on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 24th. StockNews.com upgraded shares of 3M from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 25th. Finally, Bank of America reduced their price target on shares of 3M from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $104.10.

Insider Activity

In related news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total value of $39,328.32. Following the completion of the transaction, the insider now owns 3,966 shares of the company’s stock, valued at $366,141.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.38% of the stock is currently owned by company insiders.

3M Trading Up 4.7 %

MMM stock opened at $96.51 on Wednesday. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.07 and a quick ratio of 0.76. The company has a fifty day moving average price of $95.82 and a two-hundred day moving average price of $97.54. 3M has a one year low of $71.12 and a one year high of $97.84. The stock has a market cap of $53.40 billion, a price-to-earnings ratio of -7.64, a price-to-earnings-growth ratio of 1.75 and a beta of 1.02.

3M (NYSE:MMM) last announced its earnings results on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.29. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. During the same period in the previous year, the firm earned $1.97 earnings per share. Equities analysts anticipate that 3M will post 8.19 EPS for the current year.

3M Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th were given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 6.26%. The ex-dividend date of this dividend was Thursday, February 15th. This is a boost from 3M’s previous quarterly dividend of $1.50. 3M’s payout ratio is presently -47.82%.

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.