Rockefeller Capital Management L.P. Buys 4,282 Shares of 3M (NYSE:MMM)

Rockefeller Capital Management L.P. raised its stake in shares of 3M (NYSE:MMM - Free Report) by 7.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58,872 shares of the conglomerate's stock after buying an additional 4,282 shares during the period. Rockefeller Capital Management L.P.'s holdings in 3M were worth $7,598,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Financial Life Planners acquired a new position in shares of 3M during the 4th quarter worth $25,000. Hazlett Burt & Watson Inc. bought a new stake in shares of 3M during the 4th quarter worth about $27,000. Meeder Asset Management Inc. raised its stake in shares of 3M by 230.1% in the 4th quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate's stock valued at $40,000 after acquiring an additional 214 shares in the last quarter. ORG Partners LLC grew its holdings in 3M by 44.1% during the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate's stock valued at $41,000 after purchasing an additional 98 shares during the last quarter. Finally, Catalyst Capital Advisors LLC boosted its holdings in shares of 3M by 81.5% during the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the conglomerate's stock worth $47,000 after buying an additional 163 shares during the period. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

3M Trading Down 0.2 %

Shares of MMM stock traded down $0.30 on Friday, reaching $130.16. 4,951,917 shares of the stock were exchanged, compared to its average volume of 4,153,305. The stock has a 50 day moving average price of $144.53 and a 200 day moving average price of $138.26. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The stock has a market cap of $70.20 billion, a PE ratio of 17.24, a P/E/G ratio of 3.30 and a beta of 1.01. 3M has a one year low of $90.65 and a one year high of $156.35.

3M (NYSE:MMM - Get Free Report) last announced its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping 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 business had revenue of $6.01 billion during the quarter, compared to analysts' expectations of $5.77 billion. During the same period in the previous year, the firm earned $2.42 earnings per share. The firm's quarterly revenue was down 25.0% compared to the same quarter last year. Equities research analysts forecast that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were paid a dividend of $0.73 per share. This is a positive change from 3M's previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.92 annualized dividend and a yield of 2.24%. 3M's dividend payout ratio (DPR) is presently 38.68%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a research report on Tuesday, April 8th. Bank of America increased their price objective on shares of 3M from $175.00 to $179.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. Citigroup lowered their target price on shares of 3M from $152.00 to $142.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. lowered their target price on shares of 3M from $165.00 to $140.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Wells Fargo & Company raised shares of 3M from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $140.00 to $170.00 in a report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, three have assigned 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 price target of $146.47.

Insider Buying and Selling at 3M

In other news, CAO Theresa E. Reinseth sold 2,309 shares of the firm's stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $149.95, for a total transaction of $346,234.55. Following the sale, the chief accounting officer now owns 4,417 shares of the company's stock, valued at $662,329.15. This trade represents a 34.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $149.43, for a total transaction of $944,098.74. Following the sale, the insider now directly owns 5,024 shares of the company's stock, valued at $750,736.32. This represents a 55.70 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,639 shares of company stock valued at $17,163,446. Corporate insiders own 0.48% of the company's stock.

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.