Clarius Group LLC Has $265,000 Holdings in 3M (NYSE:MMM)

Clarius Group LLC cut its stake in shares of 3M (NYSE:MMM) by 29.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,423 shares of the conglomerate’s stock after selling 991 shares during the period. Clarius Group LLC’s holdings in 3M were worth $265,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Financial Freedom LLC acquired a new stake in 3M in the fourth quarter valued at $25,000. DHJJ Financial Advisors Ltd. bought a new stake in 3M during the third quarter valued at $28,000. CGC Financial Services LLC boosted its position in 3M by 89.9% during the fourth quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock valued at $37,000 after acquiring an additional 160 shares during the last quarter. Briaud Financial Planning Inc bought a new stake in 3M during the third quarter valued at $35,000. Finally, Authentikos Wealth Advisory LLC bought a new stake in 3M during the third quarter valued at $37,000. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at 3M

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of 3M stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total transaction of $39,328.32. Following the completion of the sale, the insider now directly owns 3,966 shares of the company’s stock, valued at approximately $366,141.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.38% of the stock is currently owned by insiders.

3M Stock Performance

NYSE:MMM opened at $91.31 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 2.69. 3M has a 52 week low of $71.12 and a 52 week high of $95.67. The firm has a 50-day moving average price of $95.92 and a two-hundred day moving average price of $97.32.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 EPS for the quarter, beating the consensus estimate of $2.31 by $0.11. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The firm had revenue of $8.01 billion during the quarter, compared to the consensus estimate of $7.69 billion. During the same period last year, the firm earned $2.28 EPS. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. Analysts forecast that 3M will post 8.79 earnings per share for the current year.

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th were issued a dividend of $1.51 per share. This is an increase from 3M’s previous quarterly dividend of $1.50. This represents a $6.04 dividend on an annualized basis and a dividend yield of 6.61%. The ex-dividend date of this dividend was Thursday, February 15th. 3M’s payout ratio is currently -47.82%.

Wall Street Analysts Forecast Growth

MMM has been the topic of a number of research analyst reports. StockNews.com began coverage on shares of 3M in a research report on Thursday, April 4th. They set a “buy” rating on the stock. Wells Fargo & Company cut their price objective on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 24th. Royal Bank of Canada cut their price objective on shares of 3M from $84.00 to $78.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 2nd. Mizuho reissued a “neutral” rating and set a $105.00 price objective on shares of 3M in a research report on Wednesday, March 27th. Finally, Bank of America cut their price objective on shares of 3M from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $103.50.

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.