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

CAPROCK Group Inc. decreased its position in shares of 3M (NYSE:MMMGet Rating) by 33.4% in the 1st quarter, Holdings Channel reports. The firm 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.

Other institutional investors have also recently added to or reduced their stakes in the company. DB Fitzpatrick & Co Inc bought a new position in 3M during the 4th quarter worth approximately $29,000. Ritter Daniher Financial Advisory LLC raised its holdings in 3M by 98.9% during the 4th quarter. Ritter Daniher Financial Advisory LLC now owns 179 shares of the conglomerate’s stock worth $32,000 after purchasing an additional 89 shares during the last quarter. US Asset Management LLC bought a new position in 3M during the 1st quarter worth approximately $34,000. Atticus Wealth Management LLC bought a new position in 3M during the 4th quarter worth approximately $36,000. Finally, Dark Forest Capital Management LP bought a new position in 3M during the 3rd quarter worth approximately $41,000. Hedge funds and other institutional investors own 67.22% of the company’s stock.

MMM opened at $130.40 on Thursday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.58 and a quick ratio of 1.00. The company has a market capitalization of $74.21 billion, a price-to-earnings ratio of 13.57, a P/E/G ratio of 1.26 and a beta of 0.92. The firm’s fifty day moving average price is $145.13 and its two-hundred day moving average price is $155.93. 3M has a 1 year low of $128.19 and a 1 year 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, equities analysts anticipate that 3M will post 10.84 EPS for the current year.

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

Several analysts have recently weighed in on the stock. UBS Group lowered their price objective on shares of 3M from $168.00 to $118.00 and set a “sell” rating for the company in a research note on Friday, March 11th. Credit Suisse Group lowered their price objective on shares of 3M from $173.00 to $161.00 and set a “neutral” rating for the company in a research note on Wednesday, April 27th. Morgan Stanley lowered their price objective 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. Argus lowered shares of 3M from a “buy” rating to a “hold” rating in a research note on Thursday, April 28th. Finally, 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. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $164.00.

In other 3M news, insider Mojdeh Poul sold 1,634 shares of the company’s stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $151.68, for a total transaction of $247,845.12. Following the sale, the insider now directly owns 7,637 shares of the company’s stock, valued at $1,158,380.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael F. Roman sold 10,610 shares of the company’s 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 sale, 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. 0.34% of the stock is currently owned by 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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