Roberts Glore & Co. Inc. IL Sells 75 Shares of 3M (NYSE:MMM)

Roberts Glore & Co. Inc. IL trimmed its holdings in shares of 3M (NYSE:MMM) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,785 shares of the conglomerate’s stock after selling 75 shares during the quarter. Roberts Glore & Co. Inc. IL’s holdings in 3M were worth $360,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in MMM. Principal Financial Group Inc. grew its position in 3M by 15.3% during the third quarter. Principal Financial Group Inc. now owns 737,075 shares of the conglomerate’s stock valued at $100,758,000 after buying an additional 97,741 shares during the period. Comprehensive Financial Consultants Institutional Inc. bought a new stake in 3M during the third quarter valued at approximately $205,000. CWA Asset Management Group LLC bought a new stake in 3M during the third quarter valued at approximately $3,915,000. Assetmark Inc. boosted its position in shares of 3M by 51.0% in the third quarter. Assetmark Inc. now owns 651 shares of the conglomerate’s stock worth $89,000 after purchasing an additional 220 shares during the period. Finally, Kerusso Capital Management LLC boosted its position in shares of 3M by 6.4% in the third quarter. Kerusso Capital Management LLC now owns 22,961 shares of the conglomerate’s stock worth $3,139,000 after purchasing an additional 1,387 shares during the period. 65.25% of the stock is currently owned by institutional investors.

3M Trading Down 0.4 %

Shares of MMM opened at $146.36 on Friday. 3M has a twelve month low of $78.14 and a twelve month high of $156.35. The company has a market cap of $79.46 billion, a P/E ratio of 19.38, a P/E/G ratio of 3.30 and a beta of 0.97. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. The company’s fifty day simple moving average is $144.51 and its 200-day simple moving average is $136.23.

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

3M Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th will be issued a $0.73 dividend. The ex-dividend date is Friday, February 14th. This is a boost from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 dividend on an annualized basis and a dividend yield of 2.00%. 3M’s dividend payout ratio is presently 38.68%.

Insider Transactions at 3M

In other news, Chairman Michael F. Roman sold 49,598 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $152.30, for a total value of $7,553,775.40. Following the transaction, the chairman now directly owns 180,895 shares in the company, valued at approximately $27,550,308.50. This represents a 21.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Victoria Clarke sold 1,750 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $154.22, for a total transaction of $269,885.00. Following the transaction, the executive vice president now owns 194 shares in the company, valued at approximately $29,918.68. The trade was a 90.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,639 shares of company stock worth $17,163,446. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on MMM shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of 3M in a research report on Friday. Bank of America upped their price target on shares of 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a research report on Thursday. Barclays upped their price target on shares of 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. upped their price target on shares of 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Finally, Citigroup upped their price target on shares of 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.13.

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.