Bank Julius Baer & Co. Ltd Zurich Purchases 164 Shares of 3M (NYSE:MMM)

Bank Julius Baer & Co. Ltd Zurich boosted its stake in 3M (NYSE:MMM) by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 41,768 shares of the conglomerate’s stock after acquiring an additional 164 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in 3M were worth $4,566,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Disciplined Equity Management Inc. increased its stake in shares of 3M by 1.2% in the fourth quarter. Disciplined Equity Management Inc. now owns 15,058 shares of the conglomerate’s stock worth $1,646,000 after purchasing an additional 180 shares in the last quarter. Wynn Capital LLC purchased a new position in 3M during the fourth quarter valued at approximately $1,245,000. Alaska Permanent Fund Corp purchased a new position in 3M during the fourth quarter valued at approximately $446,000. Harvest Fund Management Co. Ltd grew its stake in 3M by 505.9% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 1,242 shares of the conglomerate’s stock valued at $136,000 after acquiring an additional 1,037 shares in the last quarter. Finally, F M Investments LLC purchased a new position in 3M during the fourth quarter valued at approximately $207,000. Institutional investors own 65.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MMM shares. Bank of America reduced their price objective on shares of 3M from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Tuesday, April 2nd. Mizuho restated a “neutral” rating and issued a $105.00 price objective on shares of 3M in a report on Wednesday, March 27th. Wells Fargo & Company lowered their price objective on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a report on Wednesday, January 24th. Citigroup boosted their price objective on shares of 3M from $95.31 to $98.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of 3M from $118.00 to $110.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $104.00.

3M Stock Up 0.4 %

Shares of NYSE MMM opened at $91.80 on Friday. 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 12 month low of $71.12 and a 12 month high of $95.67. The firm has a market capitalization of $50.80 billion, a PE ratio of -7.27, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. The firm has a fifty day simple moving average of $95.71 and a two-hundred day simple moving average of $97.37.

3M (NYSE:MMM) last issued 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 negative net margin of 21.40% and a positive return on equity of 62.45%. The business had revenue of $8.01 billion during the quarter, compared to analyst estimates of $7.69 billion. During the same period in the prior year, the business earned $2.28 EPS. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. Equities analysts expect that 3M will post 8.19 earnings per share for the current year.

3M Increases Dividend

The firm also recently announced 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 was Thursday, February 15th. 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 6.58%. 3M’s dividend payout ratio is currently -47.82%.

Insider Transactions at 3M

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total value of $39,328.32. Following 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 can be accessed through this link. Insiders own 0.34% of the company’s stock.

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.