Roffman Miller Associates Inc. PA Cuts Stock Holdings in 3M (NYSE:MMM)

Roffman Miller Associates Inc. PA reduced its holdings in shares of 3M (NYSE:MMM) by 39.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,695 shares of the conglomerate’s stock after selling 26,627 shares during the quarter. Roffman Miller Associates Inc. PA’s holdings in 3M were worth $4,449,000 as of its most recent SEC filing.

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

Insider Transactions at 3M

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total value of $39,328.32. Following the completion of the transaction, the insider now directly 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 through the SEC website. Company insiders own 0.34% of the company’s stock.

3M Price Performance

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

3M (NYSE:MMM) last posted its 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 positive return on equity of 62.45% and a negative net margin of 21.40%. The business had revenue of $8.01 billion during the quarter, compared to analysts’ expectations of $7.69 billion. During the same period in the previous year, the business earned $2.28 earnings per share. The firm’s revenue was down 1.1% on a year-over-year basis. On average, equities research analysts forecast that 3M will post 7.87 earnings per share for the current year.

3M Increases Dividend

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

Wall Street Analyst Weigh In

MMM has been the topic of several research reports. JPMorgan Chase & Co. lowered their target price on 3M from $118.00 to $110.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Barclays lowered their target price on 3M from $126.00 to $107.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 2nd. Royal Bank of Canada lowered their target price on 3M from $84.00 to $78.00 and set an “underperform” rating on the stock in a research note on Tuesday, April 2nd. StockNews.com upgraded 3M from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Finally, Mizuho restated a “neutral” rating and issued a $105.00 target price on shares of 3M in a research note on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, 3M has an average rating of “Hold” and an average target price of $104.00.

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.