Royal Fund Management LLC Has $3.82 Million Position in 3M (NYSE:MMM)

Royal Fund Management LLC lessened its holdings in shares of 3M (NYSE:MMM) by 13.1% during the 4th quarter, HoldingsChannel reports. The firm owned 34,944 shares of the conglomerate’s stock after selling 5,266 shares during the period. Royal Fund Management LLC’s holdings in 3M were worth $3,824,000 as of its most recent SEC filing.

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

3M Stock Performance

Shares of 3M stock traded up $0.34 during trading on Friday, hitting $97.15. 4,818,713 shares of the stock were exchanged, compared to its average volume of 4,770,578. 3M has a 1-year low of $71.12 and a 1-year high of $99.70. The company has a current ratio of 1.64, a quick ratio of 0.76 and a debt-to-equity ratio of 4.17. The stock has a market capitalization of $53.76 billion, a price-to-earnings ratio of -7.64, a price-to-earnings-growth ratio of 1.78 and a beta of 1.00. The company has a fifty day moving average price of $96.14 and a 200-day moving average price of $97.59.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.29. The company had revenue of $8 billion for the quarter, compared to analyst estimates of $7.64 billion. 3M had a negative net margin of 21.57% and a positive return on equity of 95.80%. During the same period in the prior year, the firm earned $1.97 earnings per share. As a group, equities analysts predict that 3M will post 7.23 EPS for the current fiscal year.

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were given a dividend of $1.51 per share. The ex-dividend date of this dividend was Thursday, February 15th. This is an increase from 3M’s previous quarterly dividend of $1.50. This represents a $6.04 annualized dividend and a yield of 6.22%. 3M’s dividend payout ratio (DPR) is -47.48%.

Insider Transactions 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 transaction, the insider now owns 3,966 shares in the company, valued at $366,141.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on MMM shares. Mizuho restated a “neutral” rating and issued a $105.00 price target on shares of 3M in a report on Wednesday, March 27th. StockNews.com upgraded 3M from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 25th. UBS Group upped their price target on 3M from $98.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday. Royal Bank of Canada lifted their price objective on shares of 3M from $78.00 to $87.00 and gave the company an “underperform” rating in a report on Wednesday. Finally, Barclays reduced their target price on shares of 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $103.70.

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.