Radnor Capital Management LLC Sells 7,625 Shares of 3M (NYSE:MMM)

Radnor Capital Management LLC lessened its stake in shares of 3M (NYSE:MMM - Free Report) by 17.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,960 shares of the conglomerate's stock after selling 7,625 shares during the period. 3M accounts for 0.8% of Radnor Capital Management LLC's portfolio, making the stock its 21st largest holding. Radnor Capital Management LLC's holdings in 3M were worth $4,642,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. D.A. Davidson & CO. grew its holdings in 3M by 16.2% in the 3rd quarter. D.A. Davidson & CO. now owns 146,333 shares of the conglomerate's stock valued at $20,004,000 after buying an additional 20,421 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of 3M by 26.8% in the third quarter. Franklin Resources Inc. now owns 845,401 shares of the conglomerate's stock worth $114,770,000 after acquiring an additional 178,450 shares during the last quarter. Ballentine Partners LLC increased its position in 3M by 40.1% during the third quarter. Ballentine Partners LLC now owns 18,217 shares of the conglomerate's stock worth $2,490,000 after acquiring an additional 5,210 shares during the period. Stonegate Investment Group LLC raised its stake in 3M by 5.6% during the 3rd quarter. Stonegate Investment Group LLC now owns 252,847 shares of the conglomerate's stock valued at $34,564,000 after purchasing an additional 13,473 shares during the last quarter. Finally, True Vision MN LLC bought a new stake in 3M in the 2nd quarter valued at $512,000. Institutional investors own 65.25% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Melius raised shares of 3M from a "hold" rating to a "buy" rating in a research report on Tuesday, October 22nd. Barclays cut their price target on 3M from $165.00 to $161.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. Wells Fargo & Company lifted their price objective on 3M from $130.00 to $140.00 and gave the stock an "equal weight" rating in a report on Monday, October 7th. Bank of America upped their target price on 3M from $143.00 to $160.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Finally, Melius Research upgraded shares of 3M from a "hold" rating to a "buy" rating and set a $180.00 price target on the stock in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, 3M has an average rating of "Moderate Buy" and an average target price of $144.13.

3M Price Performance

MMM stock traded up $0.86 during trading on Wednesday, hitting $138.07. 4,113,224 shares of the stock traded hands, compared to its average volume of 3,810,175. The stock has a market cap of $75.19 billion, a price-to-earnings ratio of 17.43, a P/E/G ratio of 2.15 and a beta of 0.95. 3M has a one year low of $75.40 and a one year high of $141.34. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41. The company has a 50 day simple moving average of $130.90 and a 200 day simple moving average of $127.12.

3M (NYSE:MMM - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, topping 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 return on equity of 104.66% and a net margin of 15.37%. 3M's revenue was down 24.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.68 EPS. Equities analysts expect that 3M will post 7.27 EPS for the current fiscal year.

3M Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend was Friday, November 15th. 3M's payout ratio is presently 35.35%.

About 3M

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.