Shufro Rose & Co. LLC Increases Holdings in 3M (NYSE:MMM)

Shufro Rose & Co. LLC increased its stake in shares of 3M (NYSE:MMM) by 3.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,470 shares of the conglomerate’s stock after purchasing an additional 200 shares during the period. Shufro Rose & Co. LLC’s holdings in 3M were worth $598,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in 3M by 15.4% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 110,988 shares of the conglomerate’s stock worth $10,391,000 after acquiring an additional 14,775 shares in the last quarter. Shoker Investment Counsel Inc. raised its holdings in shares of 3M by 49.7% in the 3rd quarter. Shoker Investment Counsel Inc. now owns 16,747 shares of the conglomerate’s stock worth $1,568,000 after purchasing an additional 5,561 shares in the last quarter. Diversified Trust Co raised its holdings in shares of 3M by 1.4% in the 4th quarter. Diversified Trust Co now owns 18,487 shares of the conglomerate’s stock worth $2,021,000 after purchasing an additional 263 shares in the last quarter. MWA Asset Management purchased a new position in shares of 3M in the fourth quarter worth approximately $1,723,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of 3M in the third quarter worth approximately $11,908,000. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Stock Performance

NYSE:MMM traded up $0.42 during trading on Friday, reaching $91.83. The company’s stock had a trading volume of 4,520,901 shares, compared to its average volume of 4,283,067. The firm has a market cap of $50.82 billion, a price-to-earnings ratio of -7.27, a price-to-earnings-growth ratio of 1.74 and a beta of 1.02. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.76 and a current ratio of 1.07. The firm has a 50 day moving average of $95.71 and a 200-day moving average of $97.41. 3M has a 12 month low of $71.12 and a 12 month high of $95.67.

3M Increases Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MMM. Bank of America lowered their price objective on shares of 3M from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 2nd. Mizuho reiterated a “neutral” rating and set a $105.00 target price on shares of 3M in a research note on Wednesday, March 27th. StockNews.com upgraded shares of 3M from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Royal Bank of Canada lowered their price target on shares of 3M from $84.00 to $78.00 and set an “underperform” rating on the stock in a report on Tuesday, April 2nd. Finally, Wells Fargo & Company lowered their target price on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $104.00.

Insider Buying and Selling at 3M

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

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.