RBF Capital LLC Cuts Stock Holdings in 3M (NYSE:MMM)

RBF Capital LLC trimmed its position in 3M (NYSE:MMM - Free Report) by 20.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,000 shares of the conglomerate's stock after selling 5,000 shares during the period. RBF Capital LLC's holdings in 3M were worth $2,734,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. FSA Wealth Management LLC purchased a new position in 3M in the 3rd quarter worth $27,000. MFA Wealth Advisors LLC bought a new stake in shares of 3M during the 2nd quarter valued at about $28,000. Daymark Wealth Partners LLC boosted its stake in shares of 3M by 8.6% during the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate's stock valued at $30,000 after purchasing an additional 17,211 shares in the last quarter. McClarren Financial Advisors Inc. boosted its stake in 3M by 118.6% during the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate's stock worth $30,000 after acquiring an additional 121 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its stake in shares of 3M by 689.7% in the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate's stock worth $31,000 after buying an additional 269 shares in the last quarter. Hedge funds and other institutional investors own 65.25% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Morgan Stanley assumed coverage on shares of 3M in a report on Friday, September 6th. They set an "underweight" rating and a $125.00 price objective for the company. Mizuho upped their target price on shares of 3M from $105.00 to $146.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. Barclays upped their price target on shares of 3M from $160.00 to $165.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 23rd. Melius upgraded shares of 3M from a "hold" rating to a "buy" rating in a research report on Tuesday, October 22nd. Finally, Bank of America upped their price target on shares of 3M from $143.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, 3M currently has a consensus rating of "Moderate Buy" and an average target price of $144.87.

3M Trading Up 2.6 %

Shares of MMM traded up $3.33 during midday trading on Thursday, hitting $133.78. The stock had a trading volume of 2,408,225 shares, compared to its average volume of 4,724,709. 3M has a 1 year low of $75.40 and a 1 year high of $141.34. The firm has a market cap of $72.85 billion, a PE ratio of 16.47, a price-to-earnings-growth ratio of 2.17 and a beta of 0.95. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.43 and a quick ratio of 1.08. The stock's 50 day moving average is $132.09 and its 200 day moving average is $120.88.

3M (NYSE:MMM - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.05. The business had revenue of $6.29 billion for the quarter, compared to the consensus estimate of $6.06 billion. 3M had a net margin of 15.37% and a return on equity of 104.66%. The business's revenue for the quarter was down 24.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.68 earnings per share. As a group, analysts forecast that 3M will post 7.27 EPS for the current fiscal year.

3M Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.09%. The ex-dividend date is Friday, November 15th. 3M's dividend payout ratio is presently 35.35%.

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.