CAPROCK Group Inc. Has $948,000 Stake in 3M (NYSE:MMM)

CAPROCK Group Inc. trimmed its stake in shares of 3M (NYSE:MMMGet Rating) by 33.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,365 shares of the conglomerate’s stock after selling 3,191 shares during the period. CAPROCK Group Inc.’s holdings in 3M were worth $948,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of 3M by 0.4% during the fourth quarter. BlackRock Inc. now owns 41,810,186 shares of the conglomerate’s stock worth $7,426,745,000 after buying an additional 179,402 shares during the last quarter. State Street Corp raised its stake in shares of 3M by 1.5% during the fourth quarter. State Street Corp now owns 30,979,936 shares of the conglomerate’s stock worth $5,502,966,000 after buying an additional 450,546 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of 3M by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 10,780,080 shares of the conglomerate’s stock worth $1,910,601,000 after buying an additional 127,388 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of 3M by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,557,291 shares of the conglomerate’s stock worth $1,875,293,000 after buying an additional 361,507 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of 3M by 3.1% during the fourth quarter. Fisher Asset Management LLC now owns 5,776,701 shares of the conglomerate’s stock worth $1,026,115,000 after buying an additional 171,857 shares during the last quarter. Institutional investors own 67.22% of the company’s stock.

MMM has been the subject of several recent analyst reports. Morgan Stanley lowered their target price on shares of 3M from $150.00 to $145.00 and set an “underweight” rating for the company in a research note on Thursday, April 7th. Royal Bank of Canada upped their target price on shares of 3M from $136.00 to $138.00 and gave the company an “underperform” rating in a research note on Wednesday, April 27th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of 3M from $167.00 to $164.00 and set a “hold” rating for the company in a research note on Wednesday, April 27th. StockNews.com initiated coverage on shares of 3M in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Jefferies Financial Group lowered their target price on shares of 3M from $161.00 to $145.00 in a research note on Thursday, June 16th. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $164.00.

In other news, insider Mojdeh Poul sold 1,634 shares of the stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $151.68, for a total value of $247,845.12. Following the transaction, the insider now directly owns 7,637 shares of the company’s stock, valued at $1,158,380.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael F. Roman sold 10,610 shares of the stock in a transaction dated Tuesday, May 3rd. The shares were sold at an average price of $146.21, for a total transaction of $1,551,288.10. Following the completion of the transaction, the chief executive officer now directly owns 90,361 shares in the company, valued at $13,211,681.81. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Shares of MMM opened at $130.40 on Thursday. 3M has a 12 month low of $128.19 and a 12 month high of $203.21. The firm has a fifty day simple moving average of $145.13 and a 200 day simple moving average of $155.93. The stock has a market capitalization of $74.21 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 1.26 and a beta of 0.92. The company has a current ratio of 1.58, a quick ratio of 1.00 and a debt-to-equity ratio of 0.99.

3M (NYSE:MMMGet Rating) last announced its earnings results on Tuesday, April 26th. The conglomerate reported $2.65 EPS for the quarter, topping the consensus estimate of $2.33 by $0.32. 3M had a net margin of 15.84% and a return on equity of 39.35%. The business had revenue of $8.80 billion during the quarter, compared to analysts’ expectations of $8.75 billion. During the same quarter in the prior year, the company posted $2.77 earnings per share. The firm’s revenue was down .6% on a year-over-year basis. As a group, research analysts predict that 3M will post 10.84 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Sunday, June 12th. Shareholders of record on Friday, May 20th were paid a $1.49 dividend. This represents a $5.96 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date was Thursday, May 19th. 3M’s dividend payout ratio is currently 62.02%.

3M Profile (Get Rating)

3M Company operates as a diversified technology company worldwide. It operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The 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.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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