Siemens Fonds Invest GmbH Trims Stock Holdings in 3M (NYSE:MMM)

Siemens Fonds Invest GmbH cut its stake in shares of 3M (NYSE:MMM - Free Report) by 97.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 491 shares of the conglomerate's stock after selling 17,456 shares during the quarter. Siemens Fonds Invest GmbH's holdings in 3M were worth $63,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MMM. Financial Life Planners bought a new position in shares of 3M in the fourth quarter worth about $25,000. REAP Financial Group LLC boosted its stake in 3M by 88.7% in the 4th quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate's stock worth $26,000 after purchasing an additional 94 shares during the period. Hazlett Burt & Watson Inc. purchased a new stake in 3M during the 4th quarter valued at approximately $27,000. Pinney & Scofield Inc. bought a new stake in shares of 3M during the fourth quarter valued at approximately $28,000. Finally, Meeder Asset Management Inc. lifted its holdings in shares of 3M by 230.1% in the fourth quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate's stock worth $40,000 after buying an additional 214 shares in the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.

3M Stock Down 0.8%

NYSE:MMM traded down $1.25 during trading hours on Wednesday, reaching $146.88. The company's stock had a trading volume of 2,346,908 shares, compared to its average volume of 3,869,905. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The company has a market capitalization of $79.05 billion, a P/E ratio of 19.45, a price-to-earnings-growth ratio of 3.30 and a beta of 1.02. The stock has a 50 day moving average price of $141.24 and a two-hundred day moving average price of $141.02. 3M has a 12 month low of $97.87 and a 12 month high of $156.35.

3M (NYSE:MMM - Get Free Report) last released 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 return on equity of 100.77% and a net margin of 15.71%. The firm had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.78 billion. Equities analysts predict that 3M will post 7.8 EPS for the current fiscal year.

3M Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 1.99%. 3M's payout ratio is 36.87%.

Insider Buying and Selling at 3M

In other news, EVP John Patrick Banovetz sold 7,759 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $148.37, for a total transaction of $1,151,202.83. Following the transaction, the executive vice president now owns 31,372 shares in the company, valued at $4,654,663.64. This represents a 19.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Zoe L. Dickson sold 7,915 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $149.02, for a total transaction of $1,179,493.30. Following the completion of the transaction, the executive vice president now directly owns 6,127 shares of the company's stock, valued at $913,045.54. The trade was a 56.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on MMM shares. Royal Bank of Canada increased their price target on shares of 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a report on Wednesday, April 23rd. Citigroup lifted their target price on 3M from $141.00 to $160.00 and gave the stock a "neutral" rating in a report on Friday, May 30th. Barclays boosted their target price on 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a research report on Wednesday, April 23rd. Bank of America lifted their price objective on shares of 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Finally, JPMorgan Chase & Co. raised their target price on shares of 3M from $140.00 to $167.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $153.46.

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.