Stifel Financial Corp Sells 5,347 Shares of 3M (NYSE:MMM)

Stifel Financial Corp cut its holdings in shares of 3M (NYSE:MMM - Free Report) by 1.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 487,683 shares of the conglomerate's stock after selling 5,347 shares during the period. Stifel Financial Corp owned about 0.09% of 3M worth $62,959,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Financial Life Planners bought a new position in shares of 3M during the 4th quarter worth approximately $25,000. Proficio Capital Partners LLC acquired a new position in shares of 3M during the fourth quarter valued at about $26,000. Hazlett Burt & Watson Inc. bought a new stake in 3M in the 4th quarter valued at about $27,000. Daymark Wealth Partners LLC raised its stake in 3M by 9.0% during the 4th quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate's stock worth $31,000 after buying an additional 19,552 shares during the period. Finally, Meeder Asset Management Inc. grew its stake in 3M by 230.1% in the fourth quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate's stock valued at $40,000 after acquiring an additional 214 shares during the period. 65.25% of the stock is owned by institutional investors.

3M Stock Down 1.1 %

Shares of NYSE:MMM traded down $1.58 during trading on Friday, hitting $137.30. The stock had a trading volume of 2,141,243 shares, compared to its average volume of 4,172,344. The company has a market capitalization of $74.05 billion, a PE ratio of 18.19, a PEG ratio of 3.30 and a beta of 1.01. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The firm's fifty day moving average is $143.38 and its 200 day moving average is $138.19. 3M has a 12 month low of $90.65 and a 12 month high of $156.35.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.11. The company had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.78 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. Analysts anticipate that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th were issued a dividend of $0.73 per share. The ex-dividend date was Friday, February 14th. This is an increase from 3M's previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a dividend yield of 2.13%. 3M's dividend payout ratio (DPR) is presently 38.68%.

Insider Buying and Selling

In related news, EVP Victoria Clarke sold 1,750 shares of the firm's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $154.22, for a total transaction of $269,885.00. Following the completion of the transaction, the executive vice president now directly owns 194 shares of the company's stock, valued at approximately $29,918.68. This trade represents a 90.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of 3M stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $150.25, for a total value of $247,161.25. Following the completion of the sale, the insider now directly owns 5,153 shares in the company, valued at approximately $774,238.25. The trade was a 24.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,736 shares of company stock worth $9,081,260 in the last quarter. Corporate insiders own 0.34% of the company's stock.

Wall Street Analyst Weigh In

MMM has been the subject of a number of analyst reports. Weiss Ratings reiterated a "hold (c+)" rating on shares of 3M in a report on Thursday. Barclays upped their price objective on 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a research note on Wednesday. JPMorgan Chase & Co. dropped their price objective on 3M from $165.00 to $140.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Citigroup cut their price target on shares of 3M from $152.00 to $142.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Finally, Royal Bank of Canada raised their price objective on 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $147.00.

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.