Teza Capital Management LLC Sells 21,356 Shares of 3M (NYSE:MMM)

Teza Capital Management LLC decreased its stake in shares of 3M (NYSE:MMM - Free Report) by 70.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,150 shares of the conglomerate's stock after selling 21,356 shares during the quarter. Teza Capital Management LLC's holdings in 3M were worth $1,181,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Tidal Investments LLC lifted its holdings in shares of 3M by 233.2% in the 4th quarter. Tidal Investments LLC now owns 242,335 shares of the conglomerate's stock worth $31,283,000 after purchasing an additional 169,602 shares in the last quarter. TrinityPoint Wealth LLC lifted its holdings in shares of 3M by 2.2% in the 4th quarter. TrinityPoint Wealth LLC now owns 15,411 shares of the conglomerate's stock worth $1,989,000 after purchasing an additional 337 shares in the last quarter. True Wealth Design LLC lifted its holdings in shares of 3M by 45.8% in the 4th quarter. True Wealth Design LLC now owns 449 shares of the conglomerate's stock worth $58,000 after purchasing an additional 141 shares in the last quarter. Toronto Dominion Bank lifted its holdings in shares of 3M by 0.7% in the 4th quarter. Toronto Dominion Bank now owns 276,937 shares of the conglomerate's stock worth $35,749,000 after purchasing an additional 1,961 shares in the last quarter. Finally, Shell Asset Management Co. bought a new position in 3M during the 4th quarter valued at $717,000. 65.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MMM. Bank of America raised their price objective on 3M from $175.00 to $179.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. Wells Fargo & Company raised 3M from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $140.00 to $170.00 in a report on Wednesday, January 22nd. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a report on Saturday, May 10th. Barclays lifted their target price on 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a report on Wednesday, April 23rd. Finally, Citigroup reduced their target price on 3M from $152.00 to $142.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, 3M has a consensus rating of "Moderate Buy" and an average price target of $152.08.

Insider Buying and Selling

In related news, EVP Zoe L. Dickson sold 7,915 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $149.02, for a total value of $1,179,493.30. Following the completion of the sale, the executive vice president now owns 6,127 shares in the company, valued at $913,045.54. The trade was a 56.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.34% of the stock is currently owned by corporate insiders.

3M Price Performance

Shares of MMM traded down $4.71 during trading hours on Wednesday, reaching $149.44. 2,661,780 shares of the company's stock traded hands, compared to its average volume of 3,986,107. The stock has a market cap of $80.42 billion, a PE ratio of 19.79, a price-to-earnings-growth ratio of 3.30 and a beta of 1.02. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. The firm's 50 day simple moving average is $141.82 and its 200-day simple moving average is $139.83. 3M has a 12 month low of $96.76 and a 12 month high of $156.35.

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

3M Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders 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 dividend yield of 1.95%. 3M's dividend payout ratio (DPR) is presently 36.87%.

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.