Gotham Asset Management LLC Sells 19,363 Shares of 3M (NYSE:MMM)

Gotham Asset Management LLC lessened its stake in shares of 3M (NYSE:MMM - Free Report) by 17.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 89,590 shares of the conglomerate's stock after selling 19,363 shares during the period. Gotham Asset Management LLC's holdings in 3M were worth $11,565,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Wayfinding Financial LLC bought a new stake in 3M during the fourth quarter valued at about $851,000. Meyer Handelman Co. lifted its position in shares of 3M by 1.4% during the 4th quarter. Meyer Handelman Co. now owns 197,618 shares of the conglomerate's stock worth $25,511,000 after purchasing an additional 2,678 shares during the last quarter. Ensign Peak Advisors Inc boosted its stake in 3M by 29.2% during the 4th quarter. Ensign Peak Advisors Inc now owns 642,354 shares of the conglomerate's stock valued at $82,921,000 after purchasing an additional 145,146 shares during the period. USA Financial Formulas acquired a new stake in 3M in the 4th quarter valued at approximately $816,000. Finally, Braun Stacey Associates Inc. grew its holdings in 3M by 18.4% in the 4th quarter. Braun Stacey Associates Inc. now owns 142,596 shares of the conglomerate's stock valued at $18,408,000 after buying an additional 22,203 shares during the last quarter. Institutional investors own 65.25% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MMM. Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a research report on Saturday, May 10th. Barclays boosted their price objective on shares of 3M from $160.00 to $164.00 and gave the stock an "overweight" rating in a report on Wednesday, April 23rd. Citigroup reduced their target price on shares of 3M from $152.00 to $142.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Bank of America raised their price objective on 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Finally, Royal Bank of Canada boosted their price objective on 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, 3M has an average rating of "Moderate Buy" and a consensus price target of $149.29.

3M Trading Up 0.8%

MMM traded up $1.11 during trading on Thursday, reaching $148.99. 3,824,334 shares of the company's stock were exchanged, compared to its average volume of 4,028,156. The company's fifty day moving average price is $141.47 and its 200-day moving average price is $139.02. 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 firm has a market capitalization of $80.18 billion, a PE ratio of 19.73, a P/E/G ratio of 3.30 and a beta of 1.02. 3M has a fifty-two week low of $96.76 and a fifty-two week high of $156.35.

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

3M Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.96%. 3M's dividend payout ratio is 36.87%.

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.