Tokio Marine Asset Management Co. Ltd. Sells 641 Shares of 3M (NYSE:MMM)

Tokio Marine Asset Management Co. Ltd. lessened its holdings in 3M (NYSE:MMM) by 5.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 12,111 shares of the conglomerate’s stock after selling 641 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in 3M were worth $1,324,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wynn Capital LLC bought a new position in shares of 3M during the 4th quarter valued at approximately $1,245,000. Alaska Permanent Fund Corp bought a new stake in 3M in the fourth quarter worth $446,000. Harvest Fund Management Co. Ltd lifted its position in 3M by 505.9% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 1,242 shares of the conglomerate’s stock worth $136,000 after buying an additional 1,037 shares during the last quarter. F M Investments LLC bought a new stake in 3M in the fourth quarter worth $207,000. Finally, Socha Financial Group LLC bought a new stake in 3M in the fourth quarter worth $209,000. 65.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on MMM shares. Bank of America lowered their price target on 3M from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Tuesday, April 2nd. Barclays decreased their target price on 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a research report on Tuesday, April 2nd. Mizuho reiterated a “neutral” rating and set a $105.00 target price on shares of 3M in a research report on Wednesday, March 27th. Citigroup lifted their target price on 3M from $95.31 to $98.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, Wells Fargo & Company decreased their target price 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. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $104.00.

3M Price Performance

Shares of 3M stock traded up $0.27 on Friday, reaching $91.68. The company’s stock had a trading volume of 219,505 shares, compared to its average volume of 5,674,333. The company has a market capitalization of $50.73 billion, a P/E ratio of -7.24, a PEG ratio of 1.82 and a beta of 1.02. 3M has a 52-week low of $71.12 and a 52-week high of $95.67. The stock has a 50-day moving average price of $95.70 and a 200-day moving average price of $97.35. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 2.69.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $2.42 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $8.01 billion during the quarter, compared to analysts’ expectations of $7.69 billion. During the same period in the previous year, the business earned $2.28 earnings per share. The business’s revenue was down 1.1% compared to the same quarter last year. Analysts expect that 3M will post 7.87 EPS for the current year.

3M Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were paid a $1.51 dividend. The ex-dividend date of this dividend 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 6.59%. 3M’s dividend payout ratio (DPR) is -47.82%.

Insiders Place Their Bets

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $366,141.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

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.