Yousif Capital Management LLC Sells 11,071 Shares of 3M (NYSE:MMM)

Yousif Capital Management LLC decreased its stake in 3M (NYSE:MMM) by 7.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 137,403 shares of the conglomerate’s stock after selling 11,071 shares during the period. Yousif Capital Management LLC’s holdings in 3M were worth $15,021,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Socha Financial Group LLC acquired a new position in 3M during the fourth quarter worth $209,000. Element Wealth LLC boosted its stake in 3M by 11.9% in the 4th quarter. Element Wealth LLC now owns 2,424 shares of the conglomerate’s stock valued at $265,000 after purchasing an additional 258 shares during the period. Linden Thomas Advisory Services LLC increased its position in 3M by 6.7% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 18,023 shares of the conglomerate’s stock worth $1,970,000 after buying an additional 1,136 shares during the period. Parkside Financial Bank & Trust lifted its holdings in shares of 3M by 18.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,760 shares of the conglomerate’s stock worth $520,000 after buying an additional 747 shares in the last quarter. Finally, RWA Wealth Partners LLC boosted its position in shares of 3M by 436.0% in the fourth quarter. RWA Wealth Partners LLC now owns 28,740 shares of the conglomerate’s stock valued at $3,142,000 after acquiring an additional 23,378 shares during the period. Institutional investors own 65.25% of the company’s stock.

Insiders Place Their Bets

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of 3M stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total transaction of $39,328.32. Following the sale, the insider now directly owns 3,966 shares of the company’s stock, valued at $366,141.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MMM. Citigroup boosted their price objective on shares of 3M from $95.31 to $98.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Royal Bank of Canada lowered their price objective on 3M from $84.00 to $78.00 and set an “underperform” rating on the stock in a research note on Tuesday, April 2nd. StockNews.com raised 3M from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. cut their price objective on shares of 3M from $118.00 to $110.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Finally, Mizuho reissued a “neutral” rating and issued a $105.00 target price on shares of 3M in a report on Wednesday, March 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $104.00.

3M Price Performance

Shares of MMM traded down $1.09 during mid-day trading on Wednesday, reaching $91.91. The company had a trading volume of 2,261,991 shares, compared to its average volume of 5,757,208. The company has a market capitalization of $50.86 billion, a price-to-earnings ratio of -7.29, a P/E/G ratio of 1.83 and a beta of 1.02. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.76 and a current ratio of 1.07. The company’s 50 day simple moving average is $95.73 and its 200 day simple moving average is $97.43. 3M has a 1-year low of $71.12 and a 1-year high of $95.67.

3M (NYSE:MMM) last issued its earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.11. The firm had revenue of $8.01 billion for the quarter, compared to analyst estimates of $7.69 billion. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The company’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the business posted $2.28 earnings per share. Analysts expect that 3M will post 7.87 EPS for the current year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 16th were given a dividend of $1.51 per share. The ex-dividend date was Thursday, February 15th. This represents a $6.04 dividend on an annualized basis and a yield of 6.57%. This is a positive change from 3M’s previous quarterly dividend of $1.50. 3M’s payout ratio is currently -47.82%.

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.