Banco Bilbao Vizcaya Argentaria S.A. Has $17.65 Million Position in 3M (NYSE:MMM)

Banco Bilbao Vizcaya Argentaria S.A. decreased its position in shares of 3M (NYSE:MMM - Free Report) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 136,700 shares of the conglomerate's stock after selling 2,081 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in 3M were worth $17,647,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of MMM. Tudor Financial Inc. acquired a new stake in shares of 3M in the third quarter valued at approximately $259,000. World Investment Advisors LLC grew its holdings in 3M by 22.4% during the 3rd quarter. World Investment Advisors LLC now owns 11,768 shares of the conglomerate's stock worth $1,609,000 after acquiring an additional 2,155 shares during the period. Wilmington Savings Fund Society FSB grew its holdings in 3M by 255.1% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 78,978 shares of the conglomerate's stock worth $10,796,000 after acquiring an additional 56,734 shares during the period. Tidal Investments LLC grew its holdings in 3M by 44.7% during the 3rd quarter. Tidal Investments LLC now owns 72,733 shares of the conglomerate's stock worth $9,943,000 after acquiring an additional 22,461 shares during the period. Finally, Peapack Gladstone Financial Corp grew its holdings in 3M by 0.7% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 116,993 shares of the conglomerate's stock worth $15,993,000 after acquiring an additional 830 shares during the period. Institutional investors and hedge funds own 65.25% of the company's stock.

Insider Activity at 3M

In other news, Chairman Michael F. Roman sold 49,598 shares of the firm's 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 completion of the sale, the chairman now directly owns 180,895 shares of the company's stock, valued at $27,550,308.50. This trade represents a 21.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Victoria Clarke sold 1,750 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $154.22, for a total value of $269,885.00. Following the completion of the sale, the executive vice president now directly owns 194 shares of the company's stock, valued at approximately $29,918.68. The trade was a 90.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on the stock. Barclays lifted their target price on shares of 3M from $160.00 to $164.00 and gave the stock an "overweight" rating in a report on Wednesday, April 23rd. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a report on Thursday, April 24th. Wells Fargo & Company raised shares of 3M from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Royal Bank of Canada lifted their price target on shares of 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a research report on Wednesday, April 23rd. Finally, Citigroup reduced their price target on shares of 3M from $152.00 to $142.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, 3M presently has an average rating of "Moderate Buy" and a consensus target price of $147.00.

3M Stock Up 0.3 %

NYSE:MMM traded up $0.41 on Tuesday, hitting $138.34. 588,196 shares of the company's stock were exchanged, compared to its average volume of 4,155,002. The firm has a 50-day moving average price of $142.90 and a 200-day moving average price of $138.29. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. 3M has a 52 week low of $91.56 and a 52 week high of $156.35. The company has a market cap of $74.45 billion, a P/E ratio of 18.32, a price-to-earnings-growth ratio of 3.30 and a beta of 1.01.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 EPS for the quarter, topping the consensus estimate of $1.77 by $0.11. 3M had a net margin of 15.71% and a return on equity of 100.77%. The firm had revenue of $5.80 billion for the quarter, compared to analysts' expectations of $5.78 billion. As a group, analysts expect that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th were issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 2.11%. This is a boost from 3M's previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, February 14th. 3M's dividend payout ratio is presently 36.87%.

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.