RBF Capital LLC Decreases Holdings in 3M (NYSE:MMM)

RBF Capital LLC trimmed its stake in 3M (NYSE:MMM - Free Report) by 25.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,000 shares of the conglomerate's stock after selling 5,000 shares during the quarter. RBF Capital LLC's holdings in 3M were worth $1,936,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Tudor Financial Inc. acquired a new position in 3M in the 3rd quarter valued at $259,000. World Investment Advisors LLC lifted its holdings in 3M by 22.4% during the 3rd quarter. World Investment Advisors LLC now owns 11,768 shares of the conglomerate's stock worth $1,609,000 after buying an additional 2,155 shares during the period. Wilmington Savings Fund Society FSB increased its position in 3M by 255.1% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 78,978 shares of the conglomerate's stock valued at $10,796,000 after purchasing an additional 56,734 shares during the period. Tidal Investments LLC increased its position in 3M by 44.7% during the 3rd quarter. Tidal Investments LLC now owns 72,733 shares of the conglomerate's stock valued at $9,943,000 after purchasing an additional 22,461 shares during the period. Finally, Peapack Gladstone Financial Corp increased its position in 3M by 0.7% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 116,993 shares of the conglomerate's stock valued at $15,993,000 after purchasing an additional 830 shares during the period. 65.25% of the stock is currently owned by institutional investors.

3M Stock Down 1.1 %

Shares of 3M stock traded down $1.58 during trading on Friday, hitting $137.30. 2,141,243 shares of the stock traded hands, compared to its average volume of 4,175,835. The firm has a market cap of $73.89 billion, a P/E ratio of 18.19, a price-to-earnings-growth ratio of 3.30 and a beta of 1.01. 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 has a 52-week low of $91.56 and a 52-week high of $156.35. The stock's fifty day simple moving average is $143.15 and its 200 day simple moving average is $138.27.

3M (NYSE:MMM - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.11. The company had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.78 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. On average, equities analysts predict that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were paid a $0.73 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a yield of 2.13%. This is a boost from 3M's previous quarterly dividend of $0.70. 3M's dividend payout ratio (DPR) is currently 36.87%.

Insider Buying and Selling at 3M

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of 3M stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $150.25, for a total transaction of $247,161.25. Following the transaction, the insider now directly owns 5,153 shares of the company's stock, valued at $774,238.25. The trade was a 24.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kevin H. Rhodes sold 6,743 shares of the business's stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $149.85, for a total transaction of $1,010,438.55. Following the completion of the sale, the executive vice president now directly owns 4,902 shares in the company, valued at $734,564.70. This trade represents a 57.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 59,736 shares of company stock valued at $9,081,260 over the last ninety days. Corporate insiders own 0.34% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on MMM shares. Citigroup reduced their price objective on shares of 3M from $152.00 to $142.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Bank of America raised their price objective on 3M from $175.00 to $179.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. Wells Fargo & Company upgraded 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 note on Wednesday, January 22nd. JPMorgan Chase & Co. lowered their price objective on 3M from $165.00 to $140.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of 3M in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $147.00.

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.