Shilanski & Associates Inc. Has $5.13 Million Stock Holdings in 3M (NYSE:MMM)

Shilanski & Associates Inc. reduced its holdings in shares of 3M (NYSE:MMM) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,772 shares of the conglomerate’s stock after selling 1,093 shares during the quarter. 3M accounts for about 1.7% of Shilanski & Associates Inc.’s holdings, making the stock its 17th biggest position. Shilanski & Associates Inc.’s holdings in 3M were worth $5,134,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Sei Investments Co. lifted its holdings in shares of 3M by 6.7% in the second quarter. Sei Investments Co. now owns 165,119 shares of the conglomerate’s stock valued at $16,874,000 after purchasing an additional 10,309 shares in the last quarter. Gabelli Funds LLC lifted its stake in 3M by 14.6% during the 2nd quarter. Gabelli Funds LLC now owns 2,550 shares of the conglomerate’s stock valued at $261,000 after acquiring an additional 325 shares in the last quarter. Public Sector Pension Investment Board grew its stake in shares of 3M by 75.0% in the 2nd quarter. Public Sector Pension Investment Board now owns 21,380 shares of the conglomerate’s stock worth $2,185,000 after acquiring an additional 9,160 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of 3M by 60.0% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 105,867 shares of the conglomerate’s stock valued at $10,819,000 after purchasing an additional 39,717 shares during the last quarter. Finally, AXA S.A. boosted its holdings in 3M by 13.6% during the second quarter. AXA S.A. now owns 99,735 shares of the conglomerate’s stock worth $10,192,000 after purchasing an additional 11,910 shares during the last quarter. 65.25% of the stock is owned by institutional investors.

3M Trading Up 0.4 %

NYSE MMM opened at $149.64 on Friday. The firm has a market cap of $81.49 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 2.46 and a beta of 0.95. 3M has a 1-year low of $75.40 and a 1-year high of $152.08. The stock has a 50-day moving average of $132.09 and a 200-day moving average of $128.67. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, beating 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 firm had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5,770,390 billion. During the same quarter in the prior year, the firm posted $2.42 earnings per share. The business’s quarterly revenue was down 25.0% compared to the same quarter last year. As a group, sell-side analysts forecast that 3M will post 7.66 EPS for the current year.

3M Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend was Friday, November 15th. 3M’s payout ratio is 37.09%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $140.00 to $170.00 in a research report on Wednesday. Melius raised 3M from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada reaffirmed an “underperform” rating and set a $96.00 target price on shares of 3M in a research report on Wednesday. Barclays boosted their price target on shares of 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $148.87.

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.