Rockefeller Capital Management L.P. Acquires 4,282 Shares of 3M (NYSE:MMM)

Rockefeller Capital Management L.P. grew its holdings in shares of 3M (NYSE:MMM - Free Report) by 7.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,872 shares of the conglomerate's stock after buying an additional 4,282 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in 3M were worth $7,598,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Investors Asset Management of Georgia Inc. GA ADV lifted its holdings in shares of 3M by 1.3% in the 4th quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,377 shares of the conglomerate's stock worth $694,000 after purchasing an additional 67 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in 3M by 1.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 5,153 shares of the conglomerate's stock valued at $665,000 after buying an additional 70 shares during the last quarter. Gilbert & Cook Inc. grew its position in shares of 3M by 1.5% during the fourth quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate's stock worth $659,000 after acquiring an additional 73 shares during the last quarter. Childress Capital Advisors LLC increased its holdings in shares of 3M by 5.1% in the 4th quarter. Childress Capital Advisors LLC now owns 1,573 shares of the conglomerate's stock worth $203,000 after acquiring an additional 76 shares during the period. Finally, Capital Advisors Ltd. LLC lifted its position in 3M by 5.3% in the 4th quarter. Capital Advisors Ltd. LLC now owns 1,519 shares of the conglomerate's stock valued at $196,000 after purchasing an additional 77 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company's stock.

3M Stock Performance

Shares of MMM stock traded down $0.30 during trading on Friday, reaching $130.16. The company had a trading volume of 4,951,917 shares, compared to its average volume of 4,151,045. The company has a market capitalization of $70.20 billion, a PE ratio of 17.24, a PEG ratio of 3.30 and a beta of 1.01. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The firm's 50 day simple moving average is $144.53 and its two-hundred day simple moving average is $138.22. 3M has a one year low of $90.65 and a one year high of $156.35.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $6.01 billion during the quarter, compared to analysts' expectations of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. 3M's revenue for the quarter was down 25.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.42 earnings per share. Sell-side analysts forecast that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th were paid a $0.73 dividend. This is an increase from 3M's previous quarterly dividend of $0.70. The ex-dividend date was Friday, February 14th. This represents a $2.92 annualized dividend and a dividend yield of 2.24%. 3M's dividend payout ratio (DPR) is presently 38.68%.

Insider Transactions at 3M

In other 3M news, EVP Kevin H. Rhodes sold 6,743 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $149.85, for a total transaction of $1,010,438.55. Following the completion of the transaction, the executive vice president now directly owns 4,902 shares in the company, valued at $734,564.70. This represents a 57.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of 3M stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $149.43, for a total transaction of $944,098.74. Following the transaction, the insider now directly owns 5,024 shares of the company's stock, valued at $750,736.32. This represents a 55.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,639 shares of company stock worth $17,163,446. 0.48% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on MMM shares. Citigroup decreased their target price on shares of 3M from $152.00 to $142.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Wells Fargo & Company upgraded shares of 3M from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $140.00 to $170.00 in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. decreased their price objective on shares of 3M from $165.00 to $140.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Royal Bank of Canada reissued an "underperform" rating and issued a $96.00 price objective on shares of 3M in a research note on Thursday, February 27th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a research report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, 3M presently has an average rating of "Moderate Buy" and a consensus target price of $146.47.

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.