Epoch Investment Partners Inc. Sells 2,740 Shares of 3M (NYSE:MMM)

Epoch Investment Partners Inc. cut its stake in shares of 3M (NYSE:MMM) by 13.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,397 shares of the conglomerate’s stock after selling 2,740 shares during the period. Epoch Investment Partners Inc.’s holdings in 3M were worth $1,845,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of MMM. Tributary Capital Management LLC bought a new position in 3M during the first quarter valued at about $25,000. Financial Synergies Wealth Advisors Inc. raised its holdings in shares of 3M by 419.1% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock worth $26,000 after purchasing an additional 197 shares during the period. Northwest Investment Counselors LLC purchased a new position in 3M in the first quarter valued at approximately $32,000. Livelsberger Financial Advisory purchased a new position in 3M in the fourth quarter valued at approximately $35,000. Finally, Godsey & Gibb Inc. bought a new position in 3M during the first quarter valued at $42,000. 65.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MMM shares. UBS Group upped their price target on 3M from $98.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Wolfe Research upgraded shares of 3M from a “peer perform” rating to an “outperform” rating and set a $125.00 target price for the company in a research report on Thursday, June 13th. Wells Fargo & Company boosted their price target on shares of 3M from $100.00 to $110.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 10th. JPMorgan Chase & Co. raised shares of 3M from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $110.00 to $111.00 in a report on Wednesday, May 1st. Finally, Vertical Research upgraded shares of 3M from a “hold” rating to a “buy” rating and lifted their price objective for the company from $92.00 to $140.00 in a research note on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $115.08.

3M Trading Down 0.9 %

Shares of MMM stock opened at $126.03 on Monday. The company has a market capitalization of $69.74 billion, a PE ratio of -10.00, a price-to-earnings-growth ratio of 2.36 and a beta of 0.95. 3M has a 52-week low of $71.12 and a 52-week high of $128.02. The business’s fifty day moving average is $102.05 and its 200 day moving average is $98.69. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.08 and a current ratio of 1.36.

3M (NYSE:MMM) last issued its quarterly earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.25. The firm had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $5.85 billion. 3M had a return on equity of 112.92% and a net margin of 3.08%. During the same quarter last year, the company posted $2.17 EPS. On average, equities research analysts anticipate that 3M will post 7.19 EPS for the current fiscal year.

3M Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 24th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Thursday, May 23rd. 3M’s dividend payout ratio (DPR) is currently -22.01%.

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.