Citizens Financial Group Inc RI Has $3.52 Million Holdings in 3M (NYSE:MMM)

Citizens Financial Group Inc RI cut its holdings in 3M (NYSE:MMMGet Rating) by 7.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,967 shares of the conglomerate’s stock after selling 1,555 shares during the quarter. Citizens Financial Group Inc RI’s holdings in 3M were worth $3,519,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. DB Fitzpatrick & Co Inc acquired a new stake in 3M in the fourth quarter valued at about $29,000. Ritter Daniher Financial Advisory LLC boosted its stake in shares of 3M by 98.9% during the fourth quarter. Ritter Daniher Financial Advisory LLC now owns 179 shares of the conglomerate’s stock valued at $32,000 after purchasing an additional 89 shares in the last quarter. Atticus Wealth Management LLC acquired a new stake in shares of 3M during the fourth quarter valued at about $36,000. McIlrath & Eck LLC boosted its stake in shares of 3M by 60.8% during the third quarter. McIlrath & Eck LLC now owns 230 shares of the conglomerate’s stock valued at $40,000 after purchasing an additional 87 shares in the last quarter. Finally, Dark Forest Capital Management LP acquired a new stake in shares of 3M during the third quarter valued at about $41,000. 67.22% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have recently commented on the company. Jefferies Financial Group cut their price target on 3M from $186.00 to $161.00 and set a “hold” rating on the stock in a research note on Tuesday, March 15th. Barclays cut their price target on 3M from $155.00 to $146.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 27th. Royal Bank of Canada lifted their price target on 3M from $136.00 to $138.00 and gave the company an “underperform” rating in a research note on Wednesday, April 27th. StockNews.com began coverage on 3M in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Wells Fargo & Company lowered their price objective on 3M from $184.00 to $173.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 15th. Six analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $164.73.

MMM stock traded up $0.45 during mid-day trading on Tuesday, reaching $150.95. The company’s stock had a trading volume of 12,116 shares, compared to its average volume of 3,066,435. The company has a market cap of $85.90 billion, a price-to-earnings ratio of 15.78, a price-to-earnings-growth ratio of 1.45 and a beta of 0.92. The business’s 50 day moving average price is $148.35 and its 200 day moving average price is $162.58. The company has a current ratio of 1.58, a quick ratio of 1.00 and a debt-to-equity ratio of 0.99. 3M has a 12 month low of $139.74 and a 12 month high of $206.81.

3M (NYSE:MMMGet Rating) last issued its earnings results on Tuesday, April 26th. The conglomerate reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.33 by $0.32. The business had revenue of $8.80 billion during the quarter, compared to the consensus estimate of $8.75 billion. 3M had a return on equity of 39.35% and a net margin of 15.84%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the company posted $2.77 earnings per share. As a group, equities analysts expect that 3M will post 10.85 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 12th. Stockholders of record on Friday, May 20th will be issued a dividend of $1.49 per share. The ex-dividend date is Thursday, May 19th. This represents a $5.96 annualized dividend and a dividend yield of 3.95%. 3M’s dividend payout ratio is 62.02%.

In other news, CEO Michael F. Roman sold 10,610 shares of the business’s stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $146.21, for a total transaction of $1,551,288.10. Following the completion of the sale, the chief executive officer now owns 90,361 shares in the company, valued at $13,211,681.81. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.39% of the company’s stock.

About 3M (Get Rating)

3M Company operates as a diversified technology company worldwide. It operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The 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.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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