3M (NYSE:MMM) is Mayar Capital Ltd.'s 10th Largest Position

Mayar Capital Ltd. lowered its stake in shares of 3M (NYSE:MMM - Free Report) by 30.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,118 shares of the conglomerate's stock after selling 23,046 shares during the quarter. 3M comprises 4.7% of Mayar Capital Ltd.'s portfolio, making the stock its 10th largest position. Mayar Capital Ltd.'s holdings in 3M were worth $5,807,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Guardian Capital Advisors LP boosted its holdings in 3M by 1.7% in the fourth quarter. Guardian Capital Advisors LP now owns 29,223 shares of the conglomerate's stock worth $3,181,000 after acquiring an additional 485 shares in the last quarter. Vise Technologies Inc. boosted its stake in 3M by 55.2% in the 4th quarter. Vise Technologies Inc. now owns 10,203 shares of the conglomerate's stock worth $1,115,000 after purchasing an additional 3,627 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in 3M by 4.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 737,674 shares of the conglomerate's stock valued at $79,514,000 after purchasing an additional 30,231 shares in the last quarter. M&G Investment Management Ltd. increased its stake in 3M by 51.0% during the 4th quarter. M&G Investment Management Ltd. now owns 140,403 shares of the conglomerate's stock valued at $15,304,000 after purchasing an additional 47,397 shares in the last quarter. Finally, Westpac Banking Corp raised its holdings in 3M by 0.7% in the fourth quarter. Westpac Banking Corp now owns 37,447 shares of the conglomerate's stock worth $4,094,000 after buying an additional 260 shares during the last quarter. 65.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on MMM shares. Mizuho reissued a "neutral" rating and set a $105.00 price target on shares of 3M in a research report on Wednesday, March 27th. Citigroup boosted their price target on 3M from $98.00 to $100.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 1st. Wells Fargo & Company dropped their price objective on 3M from $112.00 to $105.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 24th. HSBC raised 3M from a "hold" rating to a "buy" rating and boosted their target price for the stock from $91.13 to $115.00 in a research report on Friday, May 10th. Finally, Vertical Research upgraded shares of 3M from a "hold" rating to a "buy" rating and lifted their price target for the stock from $92.00 to $140.00 in a research note on Thursday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $107.55.

3M Stock Performance

Shares of 3M stock traded up $3.62 on Thursday, hitting $104.86. 8,230,350 shares of the company's stock were exchanged, compared to its average volume of 5,767,384. 3M has a 1 year low of $71.12 and a 1 year high of $105.22. The company has a 50-day simple moving average of $97.13 and a 200-day simple moving average of $98.22. The company has a debt-to-equity ratio of 4.17, a quick ratio of 1.27 and a current ratio of 1.64. The stock has a market capitalization of $58.03 billion, a PE ratio of -8.24, a PEG ratio of 1.84 and a beta of 1.00.

3M (NYSE:MMM - Get Free Report) last released its earnings results on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.29. The company had revenue of $8 billion for the quarter, compared to the consensus estimate of $7.64 billion. 3M had a positive return on equity of 95.80% and a negative net margin of 21.57%. During the same period in the previous year, the business earned $1.97 earnings per share. As a group, equities analysts anticipate that 3M will post 7.23 EPS for the current year.

3M Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 24th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Thursday, May 23rd. 3M's payout ratio is -47.48%.

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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