Shufro Rose & Co. LLC Acquires 200 Shares of 3M (NYSE:MMM)

Shufro Rose & Co. LLC grew its holdings in shares of 3M (NYSE:MMM) by 3.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,470 shares of the conglomerate’s stock after purchasing an additional 200 shares during the quarter. Shufro Rose & Co. LLC’s holdings in 3M were worth $598,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of MMM. CGC Financial Services LLC grew its stake in 3M by 89.9% in the 4th quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock valued at $37,000 after buying an additional 160 shares during the last quarter. Briaud Financial Planning Inc acquired a new position in 3M in the 3rd quarter valued at $35,000. Authentikos Wealth Advisory LLC acquired a new position in 3M in the 3rd quarter valued at $37,000. VisionPoint Advisory Group LLC grew its stake in 3M by 91.9% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate’s stock valued at $42,000 after buying an additional 215 shares during the last quarter. Finally, Psagot Value Holdings Ltd. Israel acquired a new position in 3M in the 3rd quarter valued at $44,000. Institutional investors own 65.25% of the company’s stock.

3M Price Performance

MMM stock traded up $0.42 during trading on Friday, hitting $91.83. 4,520,901 shares of the stock traded hands, compared to its average volume of 4,283,067. 3M has a one year low of $71.12 and a one year high of $95.67. The stock has a market cap of $50.82 billion, a price-to-earnings ratio of -7.27, a P/E/G ratio of 1.74 and a beta of 1.02. The company has a 50 day simple moving average of $95.71 and a 200 day simple moving average of $97.41. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 2.69.

3M Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 16th were issued a dividend of $1.51 per share. This is an increase from 3M’s previous quarterly dividend of $1.50. This represents a $6.04 annualized dividend and a yield of 6.58%. The ex-dividend date was Thursday, February 15th. 3M’s dividend payout ratio (DPR) is currently -47.82%.

Insiders Place Their Bets

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total value of $39,328.32. Following the completion of the transaction, the insider now owns 3,966 shares in the company, valued at $366,141.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of 3M from $118.00 to $110.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Royal Bank of Canada decreased their price target on shares of 3M from $84.00 to $78.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 2nd. Barclays decreased their price target on shares of 3M from $126.00 to $107.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 2nd. Mizuho restated a “neutral” rating and issued a $105.00 price target on shares of 3M in a research report on Wednesday, March 27th. Finally, Citigroup raised their price target on shares of 3M from $95.31 to $98.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $104.00.

3M 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.