Mutual of America Capital Management LLC Lowers Holdings in 3M (NYSE:MMM)

Mutual of America Capital Management LLC decreased its holdings in 3M (NYSE:MMM) by 3.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 65,246 shares of the conglomerate’s stock after selling 2,414 shares during the quarter. Mutual of America Capital Management LLC’s holdings in 3M were worth $8,423,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of MMM. Chicago Partners Investment Group LLC raised its holdings in 3M by 10.5% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 5,569 shares of the conglomerate’s stock worth $712,000 after purchasing an additional 531 shares during the period. F M Investments LLC raised its holdings in 3M by 8.9% in the 3rd quarter. F M Investments LLC now owns 24,329 shares of the conglomerate’s stock worth $3,327,000 after purchasing an additional 1,991 shares during the period. Northern Financial Advisors Inc raised its holdings in 3M by 1.2% in the 3rd quarter. Northern Financial Advisors Inc now owns 8,869 shares of the conglomerate’s stock worth $1,212,000 after purchasing an additional 107 shares during the period. Pure Financial Advisors LLC acquired a new position in 3M in the 3rd quarter worth about $335,000. Finally, REDW Wealth LLC acquired a new position in 3M in the 3rd quarter worth about $209,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

Wall Street Analyst Weigh In

MMM has been the subject of a number of analyst reports. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $96.00 price target on shares of 3M in a report on Thursday. UBS Group raised 3M from a “neutral” rating to a “buy” rating and increased their target price for the company from $130.00 to $184.00 in a report on Wednesday, November 13th. Citigroup increased their target price on 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. JPMorgan Chase & Co. increased their target price on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Finally, Barclays increased their target price on 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $148.87.

Insider Buying and Selling at 3M

In other 3M news, Chairman Michael F. Roman sold 49,598 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $152.30, for a total value of $7,553,775.40. Following the transaction, the chairman now owns 180,895 shares of the company’s stock, valued at $27,550,308.50. This represents a 21.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Victoria Clarke sold 1,750 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $154.22, for a total transaction of $269,885.00. Following the completion of the transaction, the executive vice president now directly owns 194 shares in the company, valued at $29,918.68. The trade was a 90.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,639 shares of company stock valued at $17,163,446 over the last 90 days. 0.34% of the stock is owned by insiders.

3M Trading Up 3.1 %

Shares of MMM opened at $155.25 on Monday. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. 3M has a 12-month low of $75.40 and a 12-month high of $155.50. The firm has a 50-day moving average price of $142.73 and a 200 day moving average price of $135.56. The firm has a market capitalization of $84.29 billion, a P/E ratio of 20.56, a P/E/G ratio of 3.30 and a beta of 0.96.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. 3M had a net margin of 15.71% and a return on equity of 100.77%. The firm had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.77 billion. During the same quarter in the prior year, the firm posted $2.42 earnings per share. 3M’s quarterly revenue was down 25.0% on a year-over-year basis. Sell-side analysts forecast that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th will be given a $0.73 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a yield of 1.88%. This is a boost from 3M’s previous quarterly dividend of $0.70. 3M’s dividend payout ratio is presently 38.68%.

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.