Siemens Fonds Invest GmbH Sells 17,456 Shares of 3M (NYSE:MMM)

Siemens Fonds Invest GmbH lowered its stake in shares of 3M (NYSE:MMM) by 97.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 491 shares of the conglomerate’s stock after selling 17,456 shares during the quarter. Siemens Fonds Invest GmbH’s holdings in 3M were worth $63,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Financial Life Planners bought a new stake in shares of 3M during the fourth quarter valued at approximately $25,000. Hazlett Burt & Watson Inc. purchased a new position in shares of 3M in the fourth quarter valued at $27,000. Meeder Asset Management Inc. grew its holdings in shares of 3M by 230.1% in the fourth quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate’s stock valued at $40,000 after purchasing an additional 214 shares in the last quarter. Catalyst Capital Advisors LLC grew its holdings in shares of 3M by 81.5% in the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the conglomerate’s stock valued at $47,000 after purchasing an additional 163 shares in the last quarter. Finally, Greenline Partners LLC purchased a new position in shares of 3M in the fourth quarter valued at $50,000. Institutional investors own 65.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Barclays raised their target price on shares of 3M from $160.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday, April 23rd. Bank of America raised their target price on shares of 3M from $175.00 to $179.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Royal Bank of Canada raised their target price on shares of 3M from $98.00 to $100.00 and gave the company an “underperform” rating in a report on Wednesday, April 23rd. Weiss Ratings reissued a “hold (c+)” rating on shares of 3M in a report on Saturday, May 10th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of 3M from $140.00 to $167.00 and gave the stock an “overweight” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $152.08.

3M Stock Up 2.9%

Shares of MMM opened at $153.11 on Monday. The firm has a market capitalization of $82.40 billion, a P/E ratio of 20.28, a P/E/G ratio of 3.30 and a beta of 1.02. 3M has a 12-month low of $96.76 and a 12-month high of $156.35. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. The firm has a fifty day moving average price of $141.60 and a 200-day moving average price of $139.47.

3M (NYSE:MMM) last issued its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.11. The firm had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.78 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. Equities research analysts expect that 3M will post 7.8 earnings per share for the current year.

3M Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.91%. 3M’s dividend payout ratio is currently 36.87%.

About 3M

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.