Roffman Miller Associates Inc. PA Lowers Stock Position in 3M (NYSE:MMM)

Roffman Miller Associates Inc. PA decreased its position in 3M (NYSE:MMM) by 39.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,695 shares of the conglomerate’s stock after selling 26,627 shares during the period. Roffman Miller Associates Inc. PA’s holdings in 3M were worth $4,449,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Briaud Financial Planning Inc purchased a new stake in shares of 3M in the third quarter valued at approximately $35,000. Authentikos Wealth Advisory LLC acquired a new stake in 3M in the 3rd quarter worth about $37,000. CGC Financial Services LLC increased its stake in 3M by 89.9% during the 4th quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock worth $37,000 after buying an additional 160 shares in the last quarter. VisionPoint Advisory Group LLC lifted its position in shares of 3M by 91.9% in the third quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate’s stock valued at $42,000 after acquiring an additional 215 shares in the last quarter. Finally, Psagot Value Holdings Ltd. Israel acquired a new position in 3M in the 3rd quarter valued at $44,000. 65.25% of the stock is owned by hedge funds and other institutional investors.

3M Stock Performance

Shares of 3M stock traded up $0.40 on Friday, hitting $91.81. The stock had a trading volume of 1,517,191 shares, compared to its average volume of 5,690,628. The company’s 50 day moving average price is $95.70 and its 200 day moving average price is $97.35. The stock has a market cap of $50.80 billion, a price-to-earnings ratio of -7.25, a P/E/G ratio of 1.82 and a beta of 1.02. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 2.69. 3M has a 52-week low of $71.12 and a 52-week high of $95.67.

3M (NYSE:MMM) last announced its earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.11. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The business had revenue of $8.01 billion during the quarter, compared to the consensus estimate of $7.69 billion. During the same quarter in the prior year, the firm earned $2.28 earnings per share. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, research analysts anticipate that 3M will post 7.87 EPS for the current year.

3M Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th were paid a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 6.58%. The ex-dividend date of this dividend was Thursday, February 15th. This is a boost from 3M’s previous quarterly dividend of $1.50. 3M’s dividend payout ratio (DPR) is -47.82%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Citigroup lifted their target price on shares of 3M from $95.31 to $98.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Wells Fargo & Company cut their price objective on 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 24th. StockNews.com raised shares of 3M from a “buy” rating to a “strong-buy” rating in a research report on Thursday. JPMorgan Chase & Co. reduced their price target on shares of 3M from $118.00 to $110.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Finally, Barclays decreased their price target on 3M from $126.00 to $107.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, 3M has an average rating of “Hold” and a consensus target price of $104.00.

Insider Buying and Selling at 3M

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total transaction of $39,328.32. Following the completion of the transaction, the insider now directly owns 3,966 shares of the company’s stock, valued at approximately $366,141.12. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.34% of the stock is owned by corporate insiders.

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.