White Pine Capital LLC Sells 410 Shares of 3M (NYSE:MMM)

White Pine Capital LLC lessened its position in shares of 3M (NYSE:MMM) by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 97,934 shares of the conglomerate’s stock after selling 410 shares during the quarter. 3M makes up 4.1% of White Pine Capital LLC’s holdings, making the stock its 2nd biggest position. White Pine Capital LLC’s holdings in 3M were worth $10,706,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MMM. Briaud Financial Planning Inc acquired a new stake in shares of 3M in the third quarter valued at about $35,000. Authentikos Wealth Advisory LLC acquired a new stake in shares of 3M in the third quarter valued at about $37,000. CGC Financial Services LLC grew its position in shares of 3M by 89.9% in the fourth quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock valued at $37,000 after purchasing an additional 160 shares during the period. VisionPoint Advisory Group LLC grew 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 purchasing an additional 215 shares during the period. Finally, Psagot Value Holdings Ltd. Israel acquired a new stake in shares of 3M in the third quarter valued at about $44,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MMM. Citigroup lifted their target price on shares of 3M from $95.31 to $98.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. JPMorgan Chase & Co. decreased 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. Wells Fargo & Company decreased their price target on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 24th. Bank of America decreased their price target on shares of 3M from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 2nd. Finally, Royal Bank of Canada decreased their price target on shares of 3M from $84.00 to $78.00 and set an “underperform” rating on the stock in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, 3M has an average rating of “Hold” and a consensus price target of $104.00.

3M Stock Up 0.5 %

Shares of MMM stock traded up $0.42 during trading on Friday, reaching $91.83. The company’s stock had a trading volume of 4,520,901 shares, compared to its average volume of 4,283,067. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.07 and a quick ratio of 0.76. The company has a market capitalization of $50.82 billion, a price-to-earnings ratio of -7.27, a P/E/G ratio of 1.73 and a beta of 1.02. The stock’s 50-day moving average price is $95.71 and its 200 day moving average price is $97.37. 3M has a 1-year low of $71.12 and a 1-year high of $95.67.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 EPS 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 company had revenue of $8.01 billion during the quarter, compared to analysts’ expectations of $7.69 billion. During the same quarter in the previous year, the business posted $2.28 EPS. The firm’s revenue was down 1.1% on a year-over-year basis. On average, research analysts anticipate that 3M will post 8.19 EPS for the current year.

3M Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a 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 payout ratio is -47.82%.

Insiders Place Their Bets

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were 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 owns 3,966 shares in the company, valued at approximately $366,141.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.34% of the stock is currently owned by company insiders.

3M Company 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.