Rodgers Brothers Inc. Has $249,000 Holdings in 3M (NYSE:MMM)

Rodgers Brothers Inc. decreased its position in 3M (NYSE:MMM) by 11.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,932 shares of the conglomerate’s stock after selling 246 shares during the quarter. Rodgers Brothers Inc.’s holdings in 3M were worth $249,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in MMM. State Street Corp increased its position in 3M by 1.1% during the 3rd quarter. State Street Corp now owns 27,194,612 shares of the conglomerate’s stock worth $3,717,503,000 after buying an additional 302,900 shares during the period. Bank of New York Mellon Corp increased its position in 3M by 9.2% during the fourth quarter. Bank of New York Mellon Corp now owns 5,689,486 shares of the conglomerate’s stock worth $734,456,000 after acquiring an additional 479,621 shares during the period. Norges Bank acquired a new stake in 3M in the 4th quarter worth about $636,767,000. Charles Schwab Investment Management Inc. boosted its holdings in 3M by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,577,045 shares of the conglomerate’s stock valued at $461,761,000 after purchasing an additional 17,228 shares during the period. Finally, Alliancebernstein L.P. grew its position in shares of 3M by 26.6% during the 4th quarter. Alliancebernstein L.P. now owns 2,540,883 shares of the conglomerate’s stock worth $328,003,000 after purchasing an additional 533,753 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.

3M Stock Up 1.5 %

Shares of NYSE:MMM opened at $147.03 on Tuesday. 3M has a 52-week low of $88.23 and a 52-week high of $156.35. The company has a market capitalization of $79.82 billion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 3.30 and a beta of 0.97. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The company has a fifty day moving average of $149.72 and a 200-day moving average of $138.39.

3M (NYSE:MMM) last issued its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The business had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.77 billion. During the same quarter in the prior year, the firm earned $2.42 EPS. The business’s revenue for the quarter was down 25.0% compared to the same quarter last year. On average, equities analysts predict that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were given a dividend of $0.73 per share. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a yield of 1.99%. 3M’s dividend payout ratio (DPR) is currently 38.68%.

Insiders Place Their Bets

In other 3M news, EVP Victoria Clarke sold 1,750 shares of 3M stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $154.22, for a total transaction of $269,885.00. Following the transaction, the executive vice president now directly owns 194 shares of the company’s stock, valued at approximately $29,918.68. The trade was a 90.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $149.43, for a total value of $944,098.74. Following the completion of the sale, the insider now directly owns 5,024 shares of the company’s stock, valued at approximately $750,736.32. The trade was a 55.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,639 shares of company stock valued at $17,163,446 in the last ninety days. 0.34% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MMM has been the subject of a number of analyst reports. Barclays lifted their price target on shares of 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Bank of America upped their target price on 3M from $175.00 to $179.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Royal Bank of Canada reaffirmed an “underperform” rating and set a $96.00 price objective on shares of 3M in a research report on Thursday, February 27th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of 3M in a report on Saturday, March 22nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $149.13.

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.