Capital International Inc. CA Raises Position in 3M (NYSE:MMM)

by · The Cerbat Gem

Capital International Inc. CA boosted its holdings in 3M (NYSE:MMM – Free Report) by 109.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,888 shares of the conglomerate’s stock after purchasing an additional 26,580 shares during the quarter. Capital International Inc. CA’s holdings in 3M were worth $6,569,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Wayfinding Financial LLC acquired a new stake in shares of 3M in the fourth quarter worth approximately $851,000. Franklin Resources Inc. grew its stake in shares of 3M by 26.8% during the 3rd quarter. Franklin Resources Inc. now owns 845,401 shares of the conglomerate’s stock valued at $114,770,000 after buying an additional 178,450 shares during the period. Meyer Handelman Co. increased its holdings in shares of 3M by 1.4% during the 4th quarter. Meyer Handelman Co. now owns 197,618 shares of the conglomerate’s stock worth $25,511,000 after buying an additional 2,678 shares during the last quarter. USA Financial Formulas purchased a new position in shares of 3M in the 4th quarter worth $816,000. Finally, Braun Stacey Associates Inc. boosted its holdings in 3M by 18.4% in the fourth quarter. Braun Stacey Associates Inc. now owns 142,596 shares of the conglomerate’s stock valued at $18,408,000 after acquiring an additional 22,203 shares during the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

3M Trading Down 0.2 %

NYSE MMM opened at $130.16 on Friday. The company has a market capitalization of $70.20 billion, a price-to-earnings ratio of 17.24, a price-to-earnings-growth ratio of 3.30 and a beta of 1.01. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. 3M has a 12 month low of $90.65 and a 12 month high of $156.35. The company’s fifty day moving average price is $144.53 and its two-hundred day moving average price is $138.23.

3M (NYSE:MMM – Get Free Report) last posted its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The business had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same period last year, the firm earned $2.42 earnings per share. The company’s revenue for the quarter was down 25.0% compared to the same quarter last year. As a group, research analysts predict that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were paid a dividend of $0.73 per share. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a yield of 2.24%. 3M’s dividend payout ratio (DPR) is 38.68%.

Insiders Place Their Bets

In related news, EVP Victoria Clarke sold 1,750 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $154.22, for a total transaction of $269,885.00. Following the completion of the transaction, the executive vice president now directly owns 194 shares in the company, valued at $29,918.68. This represents a 90.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the firm’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $149.43, for a total value of $944,098.74. Following the completion of the sale, the insider now owns 5,024 shares in the company, valued at $750,736.32. The trade was a 55.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,639 shares of company stock valued at $17,163,446 over the last 90 days. 0.48% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $140.00 to $170.00 in a report on Wednesday, January 22nd. Citigroup reduced their price target on shares of 3M from $152.00 to $142.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Royal Bank of Canada reissued an “underperform” rating and issued a $96.00 price objective on shares of 3M in a research report on Thursday, February 27th. JPMorgan Chase & Co. reduced their target price on shares of 3M from $165.00 to $140.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Finally, Bank of America increased their price target on 3M from $175.00 to $179.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $146.47.

Read Our Latest Stock Report on 3M

About 3M

(Free Report)

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.

See Also

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