3M (NYSE:MMM) Stock Position Decreased by Excalibur Management Corp

Excalibur Management Corp reduced its stake in shares of 3M (NYSE:MMM) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,955 shares of the conglomerate’s stock after selling 183 shares during the quarter. Excalibur Management Corp’s holdings in 3M were worth $1,285,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Financial Life Planners acquired a new position in shares of 3M during the fourth quarter worth approximately $25,000. FSA Wealth Management LLC acquired a new position in 3M during the 3rd quarter worth $27,000. True Wealth Design LLC grew its holdings in 3M by 2,466.7% during the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock worth $42,000 after acquiring an additional 296 shares during the period. ORG Partners LLC grew its holdings in 3M by 44.1% during the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after purchasing an additional 98 shares during the period. Finally, Catalyst Capital Advisors LLC grew its position in shares of 3M by 81.5% in the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the conglomerate’s stock valued at $47,000 after purchasing an additional 163 shares during the period. 65.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Royal Bank of Canada reiterated an “underperform” rating and set a $96.00 target price on shares of 3M in a report on Thursday, February 27th. Citigroup boosted their price target on 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of 3M in a report on Saturday. Bank of America raised their price target on shares of 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Finally, JPMorgan Chase & Co. increased their target price on shares of 3M from $162.00 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 issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, 3M has a consensus rating of “Moderate Buy” and a consensus target price of $149.13.

3M Stock Performance

MMM opened at $153.53 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The firm’s 50-day moving average price is $149.05 and its 200-day moving average price is $137.88. 3M has a 52-week low of $85.62 and a 52-week high of $156.35. The company has a market cap of $83.35 billion, a P/E ratio of 20.34, a price-to-earnings-growth ratio of 3.30 and a beta of 0.97.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.02. The business had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The company’s revenue was down 25.0% compared to the same quarter last year. During the same period last year, the firm posted $2.42 earnings per share. As a group, equities analysts anticipate that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th were given a $0.73 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a yield of 1.90%. This is a boost from 3M’s previous quarterly dividend of $0.70. 3M’s dividend payout ratio is presently 38.68%.

Insider Buying and Selling

In other news, insider Christian T. Goralski, Jr. sold 6,318 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $149.43, for a total transaction of $944,098.74. Following the sale, the insider now owns 5,024 shares of the company’s stock, valued at approximately $750,736.32. This trade represents a 55.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Michael F. Roman sold 49,598 shares of 3M stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $152.30, for a total value of $7,553,775.40. Following the transaction, the chairman now directly owns 180,895 shares in the company, valued at approximately $27,550,308.50. This trade represents a 21.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,639 shares of company stock valued at $17,163,446. Company insiders own 0.34% of the company’s stock.

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.