First Bancorp Inc ME Sells 106 Shares of 3M (NYSE:MMM)

First Bancorp Inc ME trimmed its position in shares of 3M (NYSE:MMM) by 6.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,600 shares of the conglomerate’s stock after selling 106 shares during the period. First Bancorp Inc ME’s holdings in 3M were worth $207,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in MMM. State Street Corp boosted its holdings in shares of 3M by 1.1% in the third quarter. State Street Corp now owns 27,194,612 shares of the conglomerate’s stock worth $3,717,503,000 after acquiring an additional 302,900 shares during the period. FMR LLC boosted its holdings in shares of 3M by 88.7% in the third quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock worth $1,225,087,000 after acquiring an additional 4,212,409 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of 3M by 1.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,815,625 shares of the conglomerate’s stock worth $521,596,000 after acquiring an additional 43,942 shares during the period. National Pension Service boosted its stake in 3M by 14.5% during the third quarter. National Pension Service now owns 1,268,003 shares of the conglomerate’s stock valued at $173,336,000 after buying an additional 161,036 shares during the period. Finally, International Assets Investment Management LLC boosted its stake in 3M by 11,601.2% during the third quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate’s stock valued at $172,416,000 after buying an additional 1,250,491 shares during the period. 65.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MMM has been the subject of several research analyst reports. Bank of America lifted their price objective on 3M from $160.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday. Melius raised 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. UBS Group raised 3M from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $130.00 to $184.00 in a research note on Wednesday, November 13th. Weiss Ratings reissued a “hold (c)” rating on shares of 3M in a research note on Saturday, January 18th. Finally, Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $140.00 to $170.00 in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $148.87.

3M Stock Performance

3M stock opened at $149.61 on Friday. The stock’s 50 day simple moving average is $132.83 and its two-hundred day simple moving average is $129.15. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The stock has a market cap of $81.47 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 2.46 and a beta of 0.95. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $152.08.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $5,770,390 billion. During the same period in the previous year, the firm posted $2.42 EPS. The business’s revenue was down 25.0% on a year-over-year basis. As a group, analysts expect that 3M will post 7.66 earnings per share for the current fiscal year.

3M Dividend Announcement

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

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.