CAPROCK Group Inc. Sells 3,191 Shares of 3M (NYSE:MMM)

CAPROCK Group Inc. lowered its stake in 3M (NYSE:MMMGet Rating) by 33.4% in the 1st quarter, HoldingsChannel.com reports. The fund owned 6,365 shares of the conglomerate’s stock after selling 3,191 shares during the quarter. CAPROCK Group Inc.’s holdings in 3M were worth $948,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Kovack Advisors Inc. increased its stake in shares of 3M by 1.1% in the 4th quarter. Kovack Advisors Inc. now owns 5,191 shares of the conglomerate’s stock valued at $922,000 after acquiring an additional 56 shares in the last quarter. HNP Capital LLC increased its stake in shares of 3M by 0.8% in the 4th quarter. HNP Capital LLC now owns 6,959 shares of the conglomerate’s stock valued at $1,236,000 after acquiring an additional 57 shares in the last quarter. Murphy Middleton Hinkle & Parker Inc. increased its stake in 3M by 0.7% during the 4th quarter. Murphy Middleton Hinkle & Parker Inc. now owns 8,960 shares of the conglomerate’s stock valued at $1,592,000 after purchasing an additional 60 shares in the last quarter. CRA Financial Services LLC increased its stake in 3M by 2.3% during the 4th quarter. CRA Financial Services LLC now owns 2,636 shares of the conglomerate’s stock valued at $468,000 after purchasing an additional 60 shares in the last quarter. Finally, Allworth Financial LP increased its stake in 3M by 0.8% during the 4th quarter. Allworth Financial LP now owns 7,513 shares of the conglomerate’s stock valued at $1,335,000 after purchasing an additional 62 shares in the last quarter. Institutional investors own 67.22% of the company’s stock.

Shares of NYSE:MMM opened at $130.40 on Thursday. The company’s 50-day moving average is $145.13 and its 200 day moving average is $155.93. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.00 and a current ratio of 1.58. The company has a market capitalization of $74.21 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 1.26 and a beta of 0.92. 3M has a fifty-two week low of $128.19 and a fifty-two week high of $203.21.

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

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, June 12th. Shareholders of record on Friday, May 20th were issued a dividend of $1.49 per share. This represents a $5.96 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend was Thursday, May 19th. 3M’s dividend payout ratio (DPR) is presently 62.02%.

MMM has been the subject of a number of recent research reports. Royal Bank of Canada boosted their price target 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. Jefferies Financial Group decreased their price target on shares of 3M from $161.00 to $145.00 in a research note on Thursday, June 16th. Citigroup decreased their price target on shares of 3M from $157.00 to $151.00 in a research note on Wednesday, April 27th. Deutsche Bank Aktiengesellschaft decreased their price target 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. Finally, StockNews.com started coverage on shares of 3M in a report on Thursday, March 31st. They set a “hold” rating on the stock. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $164.00.

In related news, insider Mojdeh Poul sold 1,634 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $1,158,380.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael F. Roman sold 10,610 shares of the company’s stock in a transaction that occurred on Tuesday, May 3rd. The stock was 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 owns 90,361 shares in the company, valued at $13,211,681.81. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

3M Company 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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