SRS Capital Advisors Inc. Trims Position in 3M (NYSE:MMM)

SRS Capital Advisors Inc. trimmed its holdings in 3M (NYSE:MMM) by 53.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 284 shares of the conglomerate’s stock after selling 330 shares during the period. SRS Capital Advisors Inc.’s holdings in 3M were worth $31,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. CGC Financial Services LLC grew its position in shares of 3M by 89.9% during the fourth quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock valued at $37,000 after purchasing an additional 160 shares in the last quarter. Briaud Financial Planning Inc bought a new position in shares of 3M during the 3rd quarter valued at approximately $35,000. Authentikos Wealth Advisory LLC bought a new position in shares of 3M during the 3rd quarter valued at approximately $37,000. VisionPoint Advisory Group LLC increased its position in 3M by 91.9% in the third quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate’s stock worth $42,000 after purchasing an additional 215 shares during the last quarter. Finally, Psagot Value Holdings Ltd. Israel bought a new position in 3M during the third quarter valued at $44,000. Institutional investors own 65.25% of the company’s stock.

3M Stock Performance

Shares of NYSE MMM opened at $97.15 on Monday. The company has a quick ratio of 1.27, a current ratio of 1.64 and a debt-to-equity ratio of 4.17. 3M has a 12-month low of $71.12 and a 12-month high of $99.70. The stock’s fifty day simple moving average is $96.14 and its two-hundred day simple moving average is $97.71.

3M (NYSE:MMM) last announced its earnings results on Tuesday, April 30th. The conglomerate reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.29. 3M had a negative net margin of 21.57% and a positive return on equity of 95.80%. The business had revenue of $8 billion during the quarter, compared to the consensus estimate of $7.64 billion. During the same period in the previous year, the company posted $1.97 earnings per share. Equities analysts expect that 3M will post 7.23 EPS for the current year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th were paid a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 6.22%. This is a boost from 3M’s previous quarterly dividend of $1.50. The ex-dividend date was Thursday, February 15th. 3M’s dividend payout ratio (DPR) is presently -47.48%.

Analysts Set New Price Targets

Several research firms recently commented on MMM. StockNews.com upgraded 3M from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. upgraded 3M from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $110.00 to $111.00 in a research report on Wednesday, May 1st. Barclays decreased their price objective on shares of 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a report on Tuesday, April 2nd. UBS Group upped their target price on shares of 3M from $98.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Finally, Mizuho reiterated a “neutral” rating and issued a $105.00 price target on shares of 3M in a report on Wednesday, March 27th. One analyst has rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $103.70.

Insider Buying and Selling

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the company’s stock in a transaction 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 sale, the insider now directly 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.38% 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.