Citizens Financial Group Inc. RI Has $1.49 Million Position in 3M (NYSE:MMM)

Citizens Financial Group Inc. RI increased its holdings in shares of 3M (NYSE:MMM) by 8.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Golden State Equity Partners increased its holdings in shares of 3M by 4.3% during the 4th quarter. Golden State Equity Partners now owns 3,645 shares of the conglomerate’s stock worth $398,000 after acquiring an additional 151 shares during the last quarter. Truist Financial Corp increased its holdings in shares of 3M by 12.3% during the 4th quarter. Truist Financial Corp now owns 504,953 shares of the conglomerate’s stock worth $55,201,000 after acquiring an additional 55,204 shares during the last quarter. Kovack Advisors Inc. grew its holdings in 3M by 20.6% in the 4th quarter. Kovack Advisors Inc. now owns 24,159 shares of the conglomerate’s stock valued at $2,641,000 after buying an additional 4,131 shares in the last quarter. K.J. Harrison & Partners Inc acquired a new position in 3M in the 4th quarter valued at $1,789,000. Finally, Herold Advisors Inc. grew its holdings in 3M by 13.0% in the 4th quarter. Herold Advisors Inc. now owns 5,258 shares of the conglomerate’s stock valued at $575,000 after buying an additional 603 shares in the last quarter. 65.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on MMM shares. Royal Bank of Canada decreased their price objective on 3M from $84.00 to $78.00 and set an “underperform” rating on the stock in a report on Tuesday, April 2nd. Citigroup upped their price objective on 3M from $95.31 to $98.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Bank of America decreased their price objective on 3M from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Tuesday, April 2nd. Barclays decreased their price objective on 3M from $126.00 to $107.00 and set an “overweight” rating on the stock in a report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. decreased their price objective on 3M from $118.00 to $110.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, 3M has an average rating of “Hold” and an average target price of $104.00.

3M Stock Performance

NYSE:MMM opened at $91.83 on Friday. The stock has a fifty day moving average price of $95.71 and a 200-day moving average price of $97.41. The company has a market cap of $50.82 billion, a price-to-earnings ratio of -7.27, a PEG ratio of 1.74 and a beta of 1.02. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.76 and a current ratio of 1.07. 3M has a fifty-two week low of $71.12 and a fifty-two week high of $95.67.

3M Increases Dividend

The business also recently disclosed 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. This represents a $6.04 dividend on an annualized basis and a dividend yield of 6.58%. This is an increase from 3M’s previous quarterly dividend of $1.50. The ex-dividend date was Thursday, February 15th. 3M’s dividend payout ratio (DPR) is -47.82%.

Insider Transactions at 3M

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of 3M stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 3,966 shares in the company, valued at $366,141.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.34% of the stock is owned by corporate insiders.

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.