International Assets Investment Management LLC Has $927,000 Holdings in 3M (NYSE:MMM)

International Assets Investment Management LLC decreased its stake in 3M (NYSE:MMM) by 99.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,144 shares of the conglomerate’s stock after selling 1,254,126 shares during the period. International Assets Investment Management LLC’s holdings in 3M were worth $927,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MMM. CVA Family Office LLC increased its holdings in shares of 3M by 1.9% during the 3rd quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate’s stock worth $571,000 after purchasing an additional 79 shares during the period. Harbour Investments Inc. raised its holdings in 3M by 0.8% in the 3rd quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate’s stock valued at $1,443,000 after acquiring an additional 81 shares in the last quarter. KMG Fiduciary Partners LLC lifted its position in shares of 3M by 0.5% in the 3rd quarter. KMG Fiduciary Partners LLC now owns 16,186 shares of the conglomerate’s stock worth $2,213,000 after acquiring an additional 84 shares during the period. TCV Trust & Wealth Management Inc. grew its holdings in shares of 3M by 1.3% during the 3rd quarter. TCV Trust & Wealth Management Inc. now owns 6,464 shares of the conglomerate’s stock worth $884,000 after purchasing an additional 84 shares in the last quarter. Finally, Weatherly Asset Management L. P. increased its position in shares of 3M by 3.3% during the third quarter. Weatherly Asset Management L. P. now owns 2,730 shares of the conglomerate’s stock valued at $373,000 after purchasing an additional 86 shares during the period. Institutional investors own 65.25% of the company’s stock.

3M Price Performance

Shares of MMM stock opened at $134.34 on Friday. 3M has a 1 year low of $75.40 and a 1 year high of $141.34. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41. The firm’s 50 day moving average is $130.44 and its 200-day moving average is $126.11. The firm has a market capitalization of $73.16 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 2.15 and a beta of 0.95.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.05. The firm had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. The business’s quarterly revenue was down 24.3% compared to the same quarter last year. During the same period last year, the company earned $2.68 EPS. Sell-side analysts forecast that 3M will post 7.27 EPS for the current fiscal year.

3M Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were given a dividend of $0.70 per share. The ex-dividend date was Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a yield of 2.08%. 3M’s payout ratio is presently 35.35%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MMM. Royal Bank of Canada decreased their price target on shares of 3M from $100.00 to $96.00 and set an “underperform” rating on the stock in a research note on Friday, January 3rd. Mizuho upped their target price on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Bank of America raised their price target on shares of 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a research note on Tuesday, October 22nd. Finally, Melius upgraded 3M from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.33.

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.