LVM Capital Management Ltd. MI Sells 437 Shares of 3M (NYSE:MMM)

LVM Capital Management Ltd. MI cut its holdings in shares of 3M (NYSE:MMM) by 5.9% in the 4th quarter, Holdings Channel reports. The firm owned 7,009 shares of the conglomerate’s stock after selling 437 shares during the period. LVM Capital Management Ltd. MI’s holdings in 3M were worth $905,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Royal London Asset Management Ltd. raised its stake in 3M by 0.9% during the second quarter. Royal London Asset Management Ltd. now owns 218,912 shares of the conglomerate’s stock worth $22,371,000 after acquiring an additional 1,957 shares in the last quarter. Coldstream Capital Management Inc. grew its stake in shares of 3M by 14.3% during the second quarter. Coldstream Capital Management Inc. now owns 10,368 shares of the conglomerate’s stock worth $1,060,000 after buying an additional 1,299 shares during the last quarter. HHM Wealth Advisors LLC lifted its stake in shares of 3M by 239.7% in the 2nd quarter. HHM Wealth Advisors LLC now owns 496 shares of the conglomerate’s stock valued at $51,000 after acquiring an additional 350 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of 3M by 10.5% during the 2nd quarter. LPL Financial LLC now owns 728,373 shares of the conglomerate’s stock valued at $74,432,000 after acquiring an additional 69,507 shares in the last quarter. Finally, Bahl & Gaynor Inc. grew its position in 3M by 6.1% during the 2nd quarter. Bahl & Gaynor Inc. now owns 12,746 shares of the conglomerate’s stock worth $1,303,000 after acquiring an additional 728 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Bank of America lifted their price target on 3M from $143.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company upped their price target on shares of 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Royal Bank of Canada cut their price target on shares of 3M from $100.00 to $96.00 and set an “underperform” rating on the stock in a report on Friday, January 3rd. Barclays decreased their price target on 3M from $165.00 to $161.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Mizuho lifted their price objective on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $144.33.

3M Stock Down 2.2 %

Shares of NYSE MMM traded down $2.94 during trading on Friday, hitting $131.59. 1,883,983 shares of the company traded hands, compared to its average volume of 3,071,867. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43. The business’s fifty day moving average is $130.44 and its 200 day moving average is $126.11. The firm has a market capitalization of $71.66 billion, a price-to-earnings ratio of 16.61, a P/E/G ratio of 2.15 and a beta of 0.95. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $141.34.

3M (NYSE:MMM) last announced its quarterly earnings results 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. The business had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. The company’s quarterly revenue was down 24.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.68 earnings per share. Equities research analysts predict that 3M will post 7.27 earnings per share for the current fiscal year.

3M Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date was Friday, November 15th. 3M’s dividend payout ratio (DPR) is 35.35%.

About 3M

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.