3M (NYSE:MMM) Shares Sold by Curi RMB Capital LLC

Curi RMB Capital LLC cut its position in shares of 3M (NYSE:MMM) by 8.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,858 shares of the conglomerate’s stock after selling 1,235 shares during the quarter. Curi RMB Capital LLC’s holdings in 3M were worth $1,758,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MMM. CVA Family Office LLC raised its holdings in 3M by 1.9% in the 3rd quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate’s stock valued at $571,000 after acquiring an additional 79 shares during the last quarter. Harbour Investments Inc. lifted its stake in shares of 3M by 0.8% during the 3rd quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate’s stock worth $1,443,000 after purchasing an additional 81 shares during the period. Fortis Capital Advisors LLC lifted its stake in shares of 3M by 2.9% during the 2nd quarter. Fortis Capital Advisors LLC now owns 3,001 shares of the conglomerate’s stock worth $307,000 after purchasing an additional 84 shares during the period. KMG Fiduciary Partners LLC lifted its stake in shares of 3M by 0.5% during the 3rd quarter. KMG Fiduciary Partners LLC now owns 16,186 shares of the conglomerate’s stock worth $2,213,000 after purchasing an additional 84 shares during the period. Finally, TCV Trust & Wealth Management Inc. lifted its stake in shares of 3M by 1.3% during the 3rd quarter. TCV Trust & Wealth Management Inc. now owns 6,464 shares of the conglomerate’s stock worth $884,000 after purchasing an additional 84 shares during the period. 65.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MMM shares. Melius Research raised 3M from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research note on Tuesday, October 22nd. Argus upgraded 3M from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a report on Tuesday, July 30th. Citigroup upped their price objective on 3M from $100.00 to $133.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Mizuho upped their price objective on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Wells Fargo & Company upped their price objective on 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, 3M currently has an average rating of “Moderate Buy” and an average target price of $144.87.

3M Stock Down 1.4 %

Shares of 3M stock opened at $129.76 on Friday. The business has a 50-day moving average of $132.78 and a 200-day moving average of $117.60. 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 $70.66 billion, a PE ratio of 16.38, a P/E/G ratio of 2.17 and a beta of 0.95. 3M has a 1-year low of $75.40 and a 1-year high of $141.34.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, topping the consensus estimate of $1.93 by $0.05. 3M had a net margin of 15.37% and a return on equity of 104.66%. The business had revenue of $6.29 billion for the quarter, compared to analysts’ expectations of $6.06 billion. During the same quarter last year, the company posted $2.68 earnings per share. The company’s quarterly revenue was down 24.3% compared to the same quarter last year. As a group, equities analysts forecast that 3M will post 7.27 EPS for the current fiscal year.

3M Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, November 15th. This represents a $2.80 annualized dividend and a dividend yield of 2.16%. 3M’s payout ratio is 35.35%.

3M Company 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.