Bank of New Hampshire Sells 264 Shares of 3M (NYSE:MMM)

Bank of New Hampshire cut its stake in 3M (NYSE:MMM) by 24.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 812 shares of the conglomerate’s stock after selling 264 shares during the quarter. Bank of New Hampshire’s holdings in 3M were worth $86,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Livelsberger Financial Advisory bought a new stake in shares of 3M in the fourth quarter worth approximately $35,000. CGC Financial Services LLC grew its position in 3M by 89.9% during the fourth quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock valued at $37,000 after buying an additional 160 shares during the period. VisionPoint Advisory Group LLC grew its position in 3M by 91.9% during the third quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate’s stock valued at $42,000 after buying an additional 215 shares during the period. Cape Investment Advisory Inc. grew its position in 3M by 42.8% during the fourth quarter. Cape Investment Advisory Inc. now owns 387 shares of the conglomerate’s stock valued at $42,000 after buying an additional 116 shares during the period. Finally, Vermillion & White Wealth Management Group LLC bought a new stake in 3M during the fourth quarter valued at approximately $63,000. 65.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MMM shares. HSBC upgraded shares of 3M from a “hold” rating to a “buy” rating and boosted their target price for the company from $91.13 to $115.00 in a research report on Friday, May 10th. UBS Group boosted their target price on shares of 3M from $98.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. StockNews.com started coverage on shares of 3M in a research report on Thursday, June 6th. They set a “buy” rating for the company. Mizuho reaffirmed a “neutral” rating and set a $105.00 price target on shares of 3M in a report on Wednesday, March 27th. Finally, Barclays lifted their price target on shares of 3M from $112.00 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, 3M has an average rating of “Hold” and an average target price of $111.58.

3M Trading Up 0.7 %

MMM stock opened at $102.39 on Friday. The company’s fifty day moving average price is $98.13 and its 200-day moving average price is $99.30. 3M has a one year low of $71.12 and a one year high of $106.04. The company has a debt-to-equity ratio of 4.17, a current ratio of 1.64 and a quick ratio of 1.27.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.29. 3M had a negative net margin of 21.57% and a positive return on equity of 95.80%. The company had revenue of $8 billion for the quarter, compared to analysts’ expectations of $7.64 billion. During the same quarter in the previous year, the business posted $1.97 earnings per share. Research analysts forecast that 3M will post 7.09 EPS for the current year.

3M Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Friday, May 24th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.73%. The ex-dividend date was Thursday, May 23rd. 3M’s dividend payout ratio is presently -22.01%.

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.