Radnor Capital Management LLC Sells 7,625 Shares of 3M (NYSE:MMM)

Radnor Capital Management LLC lowered its position in shares of 3M (NYSE:MMM) by 17.5% in the fourth quarter, HoldingsChannel reports. The fund owned 35,960 shares of the conglomerate’s stock after selling 7,625 shares during the period. 3M accounts for approximately 0.8% of Radnor Capital Management LLC’s investment portfolio, making the stock its 21st largest holding. Radnor Capital Management LLC’s holdings in 3M were worth $4,642,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in MMM. Thurston Springer Miller Herd & Titak Inc. increased its position in 3M by 38.7% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,728 shares of the conglomerate’s stock worth $610,000 after purchasing an additional 1,318 shares during the period. Park Avenue Securities LLC lifted its holdings in 3M by 164.4% in the fourth quarter. Park Avenue Securities LLC now owns 16,356 shares of the conglomerate’s stock valued at $2,111,000 after buying an additional 10,169 shares during the period. Kathmere Capital Management LLC grew its holdings in 3M by 3.5% during the 4th quarter. Kathmere Capital Management LLC now owns 5,797 shares of the conglomerate’s stock worth $748,000 after acquiring an additional 197 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of 3M by 78.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 40,029 shares of the conglomerate’s stock worth $5,167,000 after purchasing an additional 17,564 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC grew its stake in shares of 3M by 21.5% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 8,791 shares of the conglomerate’s stock worth $1,135,000 after purchasing an additional 1,553 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Royal Bank of Canada lowered their price target on 3M from $100.00 to $96.00 and set an “underperform” rating for the company in a research note on Friday, January 3rd. Barclays cut their target price on shares of 3M from $165.00 to $161.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. UBS Group raised 3M from a “neutral” rating to a “buy” rating and boosted their target price for the company from $130.00 to $184.00 in a research note on Wednesday, November 13th. Melius Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a research report on Tuesday, October 22nd. Finally, Bank of America upped their price objective on 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $144.33.

3M Price Performance

NYSE:MMM opened at $137.35 on Wednesday. The company has a market cap of $74.80 billion, a P/E ratio of 17.34, a P/E/G ratio of 2.15 and a beta of 0.95. The firm’s fifty day moving average price is $130.90 and its two-hundred day moving average price is $127.12. 3M has a one year low of $75.40 and a one year high of $141.34. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.43 and a quick ratio of 1.08.

3M (NYSE:MMM) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.05. 3M had a return on equity of 104.66% and a net margin of 15.37%. The business had revenue of $6.29 billion during the quarter, compared to analysts’ expectations of $6.06 billion. During the same quarter in the prior year, the firm earned $2.68 EPS. The business’s revenue for the quarter was down 24.3% compared to the same quarter last year. Equities analysts expect that 3M will post 7.27 earnings per share for the current year.

3M Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.04%. 3M’s dividend payout ratio (DPR) is presently 35.35%.

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.