Ceera Investments LLC Has $866,000 Holdings in 3M (NYSE:MMM)

Ceera Investments LLC trimmed its position in shares of 3M (NYSE:MMM - Free Report) by 50.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,922 shares of the conglomerate's stock after selling 8,047 shares during the quarter. Ceera Investments LLC's holdings in 3M were worth $866,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of 3M by 0.7% in the third quarter. Vanguard Group Inc. now owns 49,033,679 shares of the conglomerate's stock worth $4,590,533,000 after purchasing an additional 317,483 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in 3M by 0.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,080,578 shares of the conglomerate's stock valued at $1,320,649,000 after buying an additional 43,732 shares during the last quarter. Invesco Ltd. lifted its stake in 3M by 2.4% during the 3rd quarter. Invesco Ltd. now owns 4,082,950 shares of the conglomerate's stock valued at $382,246,000 after acquiring an additional 94,864 shares in the last quarter. Nuance Investments LLC boosted its holdings in 3M by 10.1% during the 3rd quarter. Nuance Investments LLC now owns 4,062,557 shares of the conglomerate's stock worth $380,337,000 after acquiring an additional 371,935 shares during the last quarter. Finally, Pacer Advisors Inc. grew its stake in shares of 3M by 1,273.9% in the 4th quarter. Pacer Advisors Inc. now owns 3,783,726 shares of the conglomerate's stock worth $413,637,000 after acquiring an additional 3,508,334 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors.

3M Stock Performance

Shares of NYSE MMM traded up $1.17 during midday trading on Wednesday, hitting $101.25. The company's stock had a trading volume of 4,202,706 shares, compared to its average volume of 5,740,817. The firm has a market capitalization of $56.03 billion, a price-to-earnings ratio of -7.96, a P/E/G ratio of 1.84 and a beta of 1.00. The company has a current ratio of 1.64, a quick ratio of 1.27 and a debt-to-equity ratio of 4.17. The stock has a fifty day moving average price of $96.96 and a 200 day moving average price of $98.20. 3M has a one year low of $71.12 and a one year high of $101.74.

3M (NYSE:MMM - Get Free Report) last issued its earnings results on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.10 by $0.29. The business had revenue of $8 billion for the quarter, compared to analysts' expectations of $7.64 billion. 3M had a negative net margin of 21.57% and a positive return on equity of 95.80%. During the same quarter in the previous year, the firm posted $1.97 EPS. On average, research analysts forecast that 3M will post 7.23 EPS for the current fiscal year.

3M Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 24th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Thursday, May 23rd. 3M's dividend payout ratio is presently -47.48%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on MMM shares. UBS Group boosted their price target on shares of 3M from $98.00 to $100.00 and gave the stock a "neutral" rating in a report on Wednesday, May 1st. Bank of America cut their target price on 3M from $110.00 to $100.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 2nd. Mizuho reaffirmed a "neutral" rating and issued a $105.00 target price on shares of 3M in a report on Wednesday, March 27th. Barclays dropped their price target on 3M from $126.00 to $107.00 and set an "overweight" rating on the stock in a report on Tuesday, April 2nd. Finally, Citigroup upped their price objective on 3M from $98.00 to $100.00 and gave the company a "neutral" rating in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $104.30.

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.

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