Curbstone Financial Management Corp Has $1.67 Million Position in 3M Co (MMM)

Curbstone Financial Management Corp reduced its holdings in 3M Co (NYSE:MMM) by 5.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,496 shares of the conglomerate’s stock after selling 480 shares during the quarter. Curbstone Financial Management Corp’s holdings in 3M were worth $1,671,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in MMM. D.A. Davidson & CO. increased its stake in 3M by 10.5% in the fourth quarter. D.A. Davidson & CO. now owns 71,551 shares of the conglomerate’s stock valued at $16,841,000 after purchasing an additional 6,777 shares during the last quarter. GWM Advisors LLC increased its stake in 3M by 4.8% in the fourth quarter. GWM Advisors LLC now owns 51,329 shares of the conglomerate’s stock valued at $12,308,000 after purchasing an additional 2,335 shares during the last quarter. Squar Milner Financial Services LLC acquired a new stake in 3M during the fourth quarter worth about $349,000. RFG Advisory Group LLC acquired a new stake in 3M during the fourth quarter worth about $222,000. Finally, State of Wisconsin Investment Board increased its stake in 3M by 0.4% during the fourth quarter. State of Wisconsin Investment Board now owns 695,980 shares of the conglomerate’s stock worth $163,813,000 after acquiring an additional 2,926 shares during the last quarter. Hedge funds and other institutional investors own 65.54% of the company’s stock.

Get 3M alerts:

Shares of MMM stock traded up $0.57 during trading hours on Friday, reaching $197.91. The company had a trading volume of 102,641 shares, compared to its average volume of 2,381,542. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.17 and a current ratio of 1.65. 3M Co has a twelve month low of $191.44 and a twelve month high of $259.77. The firm has a market cap of $116.26 billion, a P/E ratio of 21.52, a price-to-earnings-growth ratio of 1.86 and a beta of 1.16.

3M (NYSE:MMM) last posted its earnings results on Tuesday, April 24th. The conglomerate reported $2.50 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.50. 3M had a return on equity of 50.11% and a net margin of 12.83%. The business had revenue of $8.28 billion during the quarter, compared to analyst estimates of $8.21 billion. During the same quarter last year, the firm earned $2.16 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. equities research analysts predict that 3M Co will post 10.37 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 12th. Stockholders of record on Friday, May 18th were paid a $1.36 dividend. The ex-dividend date was Thursday, May 17th. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.75%. 3M’s dividend payout ratio (DPR) is currently 59.32%.

Several equities research analysts have commented on the company. Zacks Investment Research lowered 3M from a “hold” rating to a “sell” rating in a research note on Wednesday, April 11th. Jefferies Financial Group lowered 3M from a “buy” rating to a “hold” rating and dropped their price target for the stock from $259.77 to $200.00 in a research note on Wednesday, May 16th. Argus dropped their price target on 3M from $285.00 to $240.00 and set a “buy” rating for the company in a research note on Wednesday, April 25th. Royal Bank of Canada upgraded 3M from a “sector perform” rating to an “outperform” rating and set a $238.00 price target for the company in a research note on Thursday, May 3rd. They noted that the move was a valuation call. Finally, Barclays dropped their price target on 3M from $230.00 to $210.00 and set an “underweight” rating for the company in a research note on Wednesday, April 25th. Six research analysts have rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $240.65.

3M Profile

3M Company operates as a diversified technology company worldwide. The company's Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; purification products; closure systems for personal hygiene products; acoustic systems products; automotive components; and abrasion-resistant films, and paint finishing and detailing products.