Duncker Streett & Co. Inc. Decreases Stake in 3M (NYSE:MMM)

Duncker Streett & Co. Inc. reduced its holdings in 3M (NYSE:MMM) by 9.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,672 shares of the conglomerate’s stock after selling 602 shares during the quarter. Duncker Streett & Co. Inc.’s holdings in 3M were worth $620,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MMM. Financial Freedom LLC bought a new stake in shares of 3M during the fourth quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. purchased a new position in shares of 3M in the third quarter worth $28,000. CGC Financial Services LLC raised its stake in shares of 3M by 89.9% in the fourth quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock worth $37,000 after purchasing an additional 160 shares during the last quarter. Briaud Financial Planning Inc purchased a new position in shares of 3M in the third quarter worth $35,000. Finally, Authentikos Wealth Advisory LLC purchased a new position in shares of 3M in the third quarter worth $37,000. 65.25% of the stock is currently owned by institutional investors.

3M Stock Down 0.3 %

MMM stock traded down $0.25 on Wednesday, hitting $91.05. 3,036,971 shares of the company’s stock were exchanged, compared to its average volume of 5,144,722. The stock has a market cap of $50.38 billion, a P/E ratio of -7.21, a price-to-earnings-growth ratio of 1.61 and a beta of 1.02. 3M has a 12-month low of $71.12 and a 12-month high of $95.67. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.76 and a current ratio of 1.07. The firm has a 50 day moving average price of $95.87 and a two-hundred day moving average price of $97.31.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $2.42 EPS for the quarter, topping the consensus estimate of $2.31 by $0.11. 3M had a positive return on equity of 62.45% and a negative net margin of 21.40%. The company had revenue of $8.01 billion during the quarter, compared to analyst estimates of $7.69 billion. During the same period in the previous year, the business earned $2.28 EPS. 3M’s quarterly revenue was down 1.1% on a year-over-year basis. As a group, equities research analysts expect that 3M will post 8.79 EPS for the current fiscal year.

3M Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th were given a $1.51 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from 3M’s previous quarterly dividend of $1.50. This represents a $6.04 dividend on an annualized basis and a dividend yield of 6.63%. 3M’s dividend payout ratio is -47.82%.

Insider Activity

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total value of $39,328.32. Following the completion of the sale, the insider now directly owns 3,966 shares in the company, valued at $366,141.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on MMM shares. Royal Bank of Canada reduced their price objective on 3M from $84.00 to $78.00 and set an “underperform” rating for the company in a research report on Tuesday, April 2nd. Bank of America reduced their price objective on 3M from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Tuesday, April 2nd. Wells Fargo & Company reduced their price objective on 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 24th. Barclays cut their price target on 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a report on Tuesday, April 2nd. Finally, StockNews.com raised 3M from a “buy” rating to a “strong-buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average 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.