3M (NYSE:MMM) Shares Sold by Stifel Financial Corp

Stifel Financial Corp cut its holdings in shares of 3M (NYSE:MMM - Free Report) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 487,683 shares of the conglomerate's stock after selling 5,347 shares during the quarter. Stifel Financial Corp owned about 0.09% of 3M worth $62,959,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Transce3nd LLC purchased a new position in 3M during the 4th quarter valued at about $71,000. Sharpepoint LLC purchased a new position in 3M during the 4th quarter valued at about $1,048,000. MML Investors Services LLC boosted its holdings in 3M by 34.1% during the 4th quarter. MML Investors Services LLC now owns 122,063 shares of the conglomerate's stock valued at $15,757,000 after acquiring an additional 31,044 shares during the period. MetLife Investment Management LLC boosted its holdings in 3M by 0.7% during the 4th quarter. MetLife Investment Management LLC now owns 148,580 shares of the conglomerate's stock valued at $19,180,000 after acquiring an additional 997 shares during the period. Finally, Natixis boosted its holdings in 3M by 5.1% during the 4th quarter. Natixis now owns 53,039 shares of the conglomerate's stock valued at $6,847,000 after acquiring an additional 2,592 shares during the period. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at 3M

In other 3M news, Chairman Michael F. Roman sold 49,598 shares of the firm's stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $152.30, for a total transaction of $7,553,775.40. Following the sale, the chairman now directly owns 180,895 shares of the company's stock, valued at $27,550,308.50. This trade represents a 21.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Victoria Clarke sold 1,750 shares of the firm's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $154.22, for a total transaction of $269,885.00. Following the sale, the executive vice president now directly owns 194 shares in the company, valued at $29,918.68. This represents a 90.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 59,736 shares of company stock worth $9,081,260. 0.34% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MMM. Wells Fargo & Company raised 3M from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a research report on Thursday. JPMorgan Chase & Co. reduced their price target on 3M from $165.00 to $140.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Royal Bank of Canada increased their price target on 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research report on Wednesday. Finally, Citigroup cut their target price on 3M from $152.00 to $142.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, 3M presently has a consensus rating of "Moderate Buy" and a consensus target price of $147.00.

3M Stock Performance

Shares of MMM stock traded down $1.58 during mid-day trading on Friday, hitting $137.30. The stock had a trading volume of 2,141,243 shares, compared to its average volume of 4,175,835. 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 company's 50-day simple moving average is $143.15 and its 200-day simple moving average is $138.27. 3M has a fifty-two week low of $91.56 and a fifty-two week high of $156.35. The firm has a market cap of $73.89 billion, a PE ratio of 18.19, a PEG ratio of 3.30 and a beta of 1.01.

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

3M Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th were issued a dividend of $0.73 per share. This is an increase from 3M's previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend was Friday, February 14th. 3M's dividend payout ratio (DPR) is 36.87%.

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.