Tower Research Capital LLC TRC Trims Stock Position in 3M (NYSE:MMM)

Tower Research Capital LLC TRC decreased its stake in 3M (NYSE:MMM) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,225 shares of the conglomerate’s stock after selling 787 shares during the quarter. Tower Research Capital LLC TRC’s holdings in 3M were worth $5,064,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Investors Asset Management of Georgia Inc. GA ADV grew its stake in shares of 3M by 1.3% during 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 period. Parkside Financial Bank & Trust grew its position in 3M by 1.4% during 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 period. LaSalle St. Investment Advisors LLC increased its holdings in 3M by 2.5% in the fourth quarter. LaSalle St. Investment Advisors LLC now owns 2,951 shares of the conglomerate’s stock valued at $381,000 after buying an additional 71 shares in the last quarter. Gilbert & Cook Inc. raised its position in shares of 3M by 1.5% in 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 period. Finally, Childress Capital Advisors LLC boosted its stake in shares of 3M by 5.1% during 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 in the last quarter. 65.25% of the stock is owned by institutional investors and hedge funds.

3M Price Performance

Shares of MMM stock opened at $130.16 on Monday. 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 company has a market capitalization of $70.20 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 3.30 and a beta of 1.01. The firm’s 50-day moving average is $144.53 and its two-hundred day moving average is $138.26. 3M has a 12 month low of $90.65 and a 12 month high of $156.35.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. The firm had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. The firm’s quarterly revenue was down 25.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.42 earnings per share. Analysts predict that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

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

Insider Activity at 3M

In related news, insider Christian T. Goralski, Jr. sold 6,318 shares of the business’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $149.43, for a total value of $944,098.74. Following the sale, the insider now owns 5,024 shares in the company, valued at approximately $750,736.32. The trade was a 55.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the 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 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. In the last ninety days, insiders have sold 113,639 shares of company stock worth $17,163,446. Company insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

MMM has been the subject of several recent analyst reports. Royal Bank of Canada restated an “underperform” rating and issued a $96.00 price target on shares of 3M in a research note on Thursday, February 27th. Wells Fargo & Company raised 3M from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Barclays decreased their target price on 3M from $165.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Bank of America lifted their target price on shares of 3M from $175.00 to $179.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Finally, JPMorgan Chase & Co. decreased their price target on shares of 3M from $165.00 to $140.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Two 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $146.47.

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.