3M (NYSE:MMM) Shares Sold by Radnor Capital Management LLC

Radnor Capital Management LLC decreased its position in shares of 3M (NYSE:MMM) by 4.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,810 shares of the conglomerate’s stock after selling 2,286 shares during the quarter. 3M makes up approximately 2.1% of Radnor Capital Management LLC’s portfolio, making the stock its 7th biggest position. Radnor Capital Management LLC’s holdings in 3M were worth $4,885,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Gladstone Institutional Advisory LLC lifted its holdings in 3M by 5.2% during the 1st quarter. Gladstone Institutional Advisory LLC now owns 27,061 shares of the conglomerate’s stock worth $2,844,000 after buying an additional 1,333 shares during the period. American Century Companies Inc. lifted its holdings in 3M by 32.9% during the 1st quarter. American Century Companies Inc. now owns 94,855 shares of the conglomerate’s stock worth $9,844,000 after buying an additional 23,485 shares during the period. Mirador Capital Partners LP acquired a new position in 3M during the 1st quarter worth about $304,000. Louisiana State Employees Retirement System lifted its holdings in 3M by 0.3% during the 1st quarter. Louisiana State Employees Retirement System now owns 35,800 shares of the conglomerate’s stock worth $3,763,000 after buying an additional 100 shares during the period. Finally, Mayflower Financial Advisors LLC boosted its position in shares of 3M by 1.6% during the 1st quarter. Mayflower Financial Advisors LLC now owns 33,190 shares of the conglomerate’s stock valued at $3,489,000 after purchasing an additional 526 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Wall Street Analysts Forecast Growth

MMM has been the subject of several recent analyst reports. Morgan Stanley raised 3M from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $102.00 to $113.00 in a research note on Thursday, August 31st. Citigroup raised their price objective on 3M from $100.00 to $111.00 in a research note on Wednesday, July 26th. Barclays raised their price objective on 3M from $93.00 to $96.00 in a research note on Wednesday, July 26th. Wolfe Research raised 3M from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, August 29th. Finally, StockNews.com assumed coverage on 3M in a report on Thursday, August 17th. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating and eleven have issued a hold rating to the company. According to data from MarketBeat.com, 3M has a consensus rating of “Hold” and a consensus target price of $113.08.

3M Stock Down 0.3 %

Shares of MMM stock traded down $0.33 during midday trading on Friday, reaching $101.99. 1,195,884 shares of the stock were exchanged, compared to its average volume of 3,592,522. The company has a current ratio of 1.44, a quick ratio of 0.96 and a debt-to-equity ratio of 1.65. The firm has a market cap of $56.30 billion, a PE ratio of -36.04, a price-to-earnings-growth ratio of 1.57 and a beta of 0.96. The company’s 50 day moving average is $104.19 and its two-hundred day moving average is $103.05. 3M has a 1 year low of $92.38 and a 1 year high of $133.91.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $2.17 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.44. The company had revenue of $7.99 billion for the quarter, compared to the consensus estimate of $7.88 billion. 3M had a positive return on equity of 38.99% and a negative net margin of 4.43%. The firm’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.48 EPS. On average, equities research analysts predict that 3M will post 8.95 EPS for the current year.

3M Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Monday, August 21st were issued a dividend of $1.50 per share. The ex-dividend date was Friday, August 18th. This represents a $6.00 annualized dividend and a dividend yield of 5.88%. 3M’s payout ratio is -211.27%.

3M Company Profile

3M Company provides diversified technology services in the United States and internationally. The company 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.