Citizens Financial Group Inc. RI Purchases 1,040 Shares of 3M (NYSE:MMM)

Citizens Financial Group Inc. RI lifted its position in 3M (NYSE:MMM) by 8.3% during the 4th quarter, HoldingsChannel reports. The firm owned 13,619 shares of the conglomerate’s stock after acquiring an additional 1,040 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in 3M were worth $1,489,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Briaud Financial Planning Inc bought a new stake in 3M during the third quarter worth approximately $35,000. Authentikos Wealth Advisory LLC bought a new stake in 3M during the third quarter worth approximately $37,000. CGC Financial Services LLC increased its stake in 3M by 89.9% during the fourth quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock worth $37,000 after acquiring an additional 160 shares during the last quarter. VisionPoint Advisory Group LLC increased its stake in 3M by 91.9% during the third quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate’s stock worth $42,000 after acquiring an additional 215 shares during the last quarter. Finally, Psagot Value Holdings Ltd. Israel bought a new stake in 3M during the third quarter worth approximately $44,000. 65.25% of the stock is owned by institutional investors.

3M Stock Performance

Shares of MMM stock opened at $91.83 on Friday. The business’s fifty day simple moving average is $95.71 and its 200-day simple moving average is $97.41. The company has a market cap of $50.82 billion, a PE ratio of -7.27, a PEG ratio of 1.74 and a beta of 1.02. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 2.69. 3M has a 12-month low of $71.12 and a 12-month high of $95.67.

3M Increases Dividend

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

Insider Transactions at 3M

In related news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total value of $39,328.32. Following the transaction, 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 SEC, which is available through this hyperlink. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. reduced their price objective on 3M from $118.00 to $110.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Barclays dropped their target price on 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a research report on Tuesday, April 2nd. Mizuho restated a “neutral” rating and set a $105.00 target price on shares of 3M in a research report on Wednesday, March 27th. StockNews.com upgraded 3M from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Finally, Wells Fargo & Company dropped their target price on 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $104.00.

About 3M

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.