3M (NYSE:MMM) Shares Sold by Raab & Moskowitz Asset Management LLC

Raab & Moskowitz Asset Management LLC trimmed its stake in 3M (NYSE:MMM) by 8.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,750 shares of the conglomerate’s stock after selling 264 shares during the quarter. Raab & Moskowitz Asset Management LLC’s holdings in 3M were worth $301,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Truist Financial Corp grew its holdings in shares of 3M by 12.3% in the 4th quarter. Truist Financial Corp now owns 504,953 shares of the conglomerate’s stock worth $55,201,000 after acquiring an additional 55,204 shares during the last quarter. Kovack Advisors Inc. grew its holdings in shares of 3M by 20.6% in the 4th quarter. Kovack Advisors Inc. now owns 24,159 shares of the conglomerate’s stock worth $2,641,000 after acquiring an additional 4,131 shares during the last quarter. K.J. Harrison & Partners Inc acquired a new position in shares of 3M in the 4th quarter worth $1,789,000. Herold Advisors Inc. grew its holdings in shares of 3M by 13.0% in the 4th quarter. Herold Advisors Inc. now owns 5,258 shares of the conglomerate’s stock worth $575,000 after acquiring an additional 603 shares during the last quarter. Finally, Motley Fool Asset Management LLC grew its holdings in shares of 3M by 5.6% during the fourth quarter. Motley Fool Asset Management LLC now owns 16,262 shares of the conglomerate’s stock valued at $1,778,000 after buying an additional 860 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at 3M

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was 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 of the company’s stock, valued at approximately $366,141.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.34% of the company’s stock.

3M Stock Up 0.5 %

Shares of MMM traded up $0.42 during trading hours on Friday, hitting $91.83. 4,520,901 shares of the company were exchanged, compared to its average volume of 4,283,067. The company has a market cap of $50.82 billion, a PE ratio of -7.27, a PEG ratio of 1.73 and a beta of 1.02. The firm’s 50 day moving average is $95.71 and its 200-day moving average is $97.37. 3M has a 52 week low of $71.12 and a 52 week high of $95.67. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.76 and a current ratio of 1.07.

3M (NYSE:MMM) last announced its earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.11. 3M had a positive return on equity of 62.45% and a negative net margin of 21.40%. The firm had revenue of $8.01 billion during the quarter, compared to the consensus estimate of $7.69 billion. During the same quarter in the prior year, the company earned $2.28 EPS. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities research analysts forecast that 3M will post 8.19 EPS for the current fiscal year.

3M Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on MMM shares. Citigroup lifted their price target on 3M from $95.31 to $98.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Barclays lowered their price target on 3M from $126.00 to $107.00 and set an “overweight” rating on the stock in a report on Tuesday, April 2nd. Bank of America lowered their price target on 3M from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Tuesday, April 2nd. StockNews.com upgraded 3M from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Finally, Mizuho reaffirmed a “neutral” rating and issued a $105.00 target price on shares of 3M in a research report on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price 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.