National Bank of Canada FI Decreases Stock Position in 3M (NYSE:MMM)

National Bank of Canada FI decreased its holdings in 3M (NYSE:MMM - Free Report) by 21.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 467,911 shares of the conglomerate's stock after selling 129,807 shares during the quarter. National Bank of Canada FI owned about 0.08% of 3M worth $51,464,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in MMM. CGC Financial Services LLC increased its holdings in 3M by 89.9% in the 4th quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate's stock worth $37,000 after buying an additional 160 shares during the period. Briaud Financial Planning Inc purchased a new stake in 3M in the third quarter valued at $35,000. Authentikos Wealth Advisory LLC acquired a new stake in 3M during the 3rd quarter worth about $37,000. VisionPoint Advisory Group LLC lifted its holdings in shares of 3M by 91.9% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate's stock valued at $42,000 after buying an additional 215 shares during the period. Finally, Psagot Value Holdings Ltd. Israel acquired a new stake in 3M during the third quarter worth about $44,000. 65.25% of the stock is owned by institutional investors and hedge funds.

3M Trading Down 0.6 %

Shares of 3M stock traded down $0.56 on Monday, reaching $96.59. The company had a trading volume of 4,328,471 shares, compared to its average volume of 5,885,180. The firm's 50 day moving average price is $96.24 and its two-hundred day moving average price is $97.77. The company has a debt-to-equity ratio of 4.17, a quick ratio of 1.27 and a current ratio of 1.64. 3M has a 52-week low of $71.12 and a 52-week high of $99.70. The firm has a market cap of $53.45 billion, a PE ratio of -7.59, a PEG ratio of 1.79 and a beta of 1.00.

3M (NYSE:MMM - Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The conglomerate reported $2.39 EPS for the quarter, topping analysts' consensus estimates of $2.10 by $0.29. 3M had a positive return on equity of 95.80% and a negative net margin of 21.57%. The company had revenue of $8 billion for the quarter, compared to analysts' expectations of $7.64 billion. During the same period in the prior year, the firm earned $1.97 earnings per share. Sell-side analysts predict that 3M will post 7.23 earnings per share for the current fiscal year.

3M Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were issued a dividend of $1.51 per share. The ex-dividend date was Thursday, February 15th. This is a positive change from 3M's previous quarterly dividend of $1.50. This represents a $6.04 dividend on an annualized basis and a yield of 6.25%. 3M's dividend payout ratio is -47.48%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MMM shares. Mizuho reiterated a "neutral" rating and issued a $105.00 target price on shares of 3M in a research note on Wednesday, March 27th. JPMorgan Chase & Co. upgraded 3M from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $110.00 to $111.00 in a research note on Wednesday, May 1st. StockNews.com upgraded 3M from a "buy" rating to a "strong-buy" rating in a research report on Thursday, April 25th. Wells Fargo & Company reduced their price objective on shares of 3M from $112.00 to $105.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 24th. Finally, UBS Group boosted their target price on shares of 3M from $98.00 to $100.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $103.70.

Insider Buying and Selling at 3M

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the company's stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total transaction of $39,328.32. Following the sale, the insider now owns 3,966 shares in the company, valued at approximately $366,141.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.38% of the stock is currently owned by corporate insiders.

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.