Rodgers Brothers Inc. Has $249,000 Stock Holdings in 3M (NYSE:MMM)

Rodgers Brothers Inc. lowered its holdings in shares of 3M (NYSE:MMM) by 11.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,932 shares of the conglomerate’s stock after selling 246 shares during the period. Rodgers Brothers Inc.’s holdings in 3M were worth $249,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Financial Life Planners acquired a new position in shares of 3M during the fourth quarter valued at about $25,000. Proficio Capital Partners LLC acquired a new position in 3M during the 4th quarter worth approximately $26,000. FSA Wealth Management LLC bought a new position in 3M in the third quarter worth approximately $27,000. Hazlett Burt & Watson Inc. acquired a new stake in 3M in the fourth quarter valued at approximately $27,000. Finally, Daymark Wealth Partners LLC increased its holdings in shares of 3M by 9.0% during the fourth quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 19,552 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors.

Insider Transactions at 3M

In other 3M news, EVP Victoria Clarke sold 1,750 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $154.22, for a total value of $269,885.00. Following the sale, the executive vice president now owns 194 shares of the company’s stock, valued at $29,918.68. This trade represents a 90.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $150.25, for a total value of $247,161.25. Following the transaction, the insider now directly owns 5,153 shares of the company’s stock, valued at $774,238.25. The trade was a 24.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,639 shares of company stock valued at $17,163,446. 0.34% of the stock is currently owned by company insiders.

3M Stock Performance

NYSE MMM opened at $147.03 on Tuesday. 3M has a 52-week low of $88.23 and a 52-week high of $156.35. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The company has a 50-day simple moving average of $149.72 and a 200 day simple moving average of $138.39. The company has a market capitalization of $79.82 billion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 3.30 and a beta of 0.97.

3M (NYSE:MMM) last issued its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. The firm had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The company’s quarterly revenue was down 25.0% on a year-over-year basis. During the same quarter last year, the business earned $2.42 earnings per share. On average, research analysts predict that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from 3M’s previous quarterly dividend of $0.70. 3M’s dividend payout ratio is 38.68%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Bank of America boosted their target price on shares of 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Barclays raised their price target on shares of 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Wells Fargo & Company raised 3M from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $140.00 to $170.00 in a report on Wednesday, January 22nd. Finally, Royal Bank of Canada restated an “underperform” rating and issued a $96.00 target price on shares of 3M in a report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $149.13.

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.