3M (NYSE:MMM) Stock Holdings Lowered by Epoch Investment Partners Inc.

Epoch Investment Partners Inc. lessened its position in 3M (NYSE:MMM) by 1.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,097 shares of the conglomerate’s stock after selling 300 shares during the period. Epoch Investment Partners Inc.’s holdings in 3M were worth $1,747,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of 3M by 0.8% during the first quarter. Vanguard Group Inc. now owns 49,461,361 shares of the conglomerate’s stock valued at $5,246,367,000 after buying an additional 377,703 shares during the last quarter. Bank of New York Mellon Corp raised its stake in 3M by 11.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,065,242 shares of the conglomerate’s stock valued at $517,617,000 after acquiring an additional 533,520 shares in the last quarter. Pacer Advisors Inc. boosted its position in 3M by 2.0% during the 2nd quarter. Pacer Advisors Inc. now owns 4,952,878 shares of the conglomerate’s stock worth $506,135,000 after acquiring an additional 97,340 shares during the period. Balyasny Asset Management L.P. grew its stake in shares of 3M by 313.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,650,961 shares of the conglomerate’s stock worth $289,803,000 after purchasing an additional 2,010,319 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of 3M by 8.2% during the first quarter. Nordea Investment Management AB now owns 2,168,811 shares of the conglomerate’s stock valued at $228,875,000 after purchasing an additional 164,236 shares during the period. 65.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Chairman Michael F. Roman sold 5,675 shares of 3M stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total transaction of $700,635.50. Following the transaction, the chairman now owns 174,036 shares in the company, valued at $21,486,484.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Theresa E. Reinseth sold 2,100 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total transaction of $260,652.00. Following the completion of the sale, the chief financial officer now directly owns 4,364 shares in the company, valued at $541,659.68. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Michael F. Roman sold 5,675 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total transaction of $700,635.50. Following the completion of the transaction, the chairman now owns 174,036 shares in the company, valued at approximately $21,486,484.56. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

3M Trading Up 0.6 %

Shares of NYSE MMM opened at $135.64 on Tuesday. The business has a fifty day simple moving average of $125.29 and a 200-day simple moving average of $108.32. The company has a quick ratio of 1.08, a current ratio of 1.36 and a debt-to-equity ratio of 2.95. The company has a market cap of $75.06 billion, a price-to-earnings ratio of -10.66, a P/E/G ratio of 2.41 and a beta of 0.95. 3M has a 12 month low of $71.12 and a 12 month high of $136.09.

3M (NYSE:MMM) last released its earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.25. 3M had a net margin of 3.08% and a return on equity of 112.92%. The business had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $5.85 billion. During the same period last year, the firm posted $2.17 earnings per share. Sell-side analysts predict that 3M will post 7.22 EPS for the current year.

3M Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 26th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.06%. The ex-dividend date was Monday, August 26th. 3M’s dividend payout ratio (DPR) is currently -22.01%.

Analyst Upgrades and Downgrades

MMM has been the subject of several research analyst reports. Royal Bank of Canada upped their price objective on shares of 3M from $93.00 to $95.00 and gave the stock an “underperform” rating in a report on Monday, July 29th. Barclays upped their price target on shares of 3M from $120.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Morgan Stanley began coverage on shares of 3M in a research note on Friday, September 6th. They set an “underweight” rating and a $125.00 price objective on the stock. Wells Fargo & Company upped their target price on 3M from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 10th. Finally, Bank of America increased their price target on 3M from $120.00 to $143.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $124.43.

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.