Tompkins Financial Corp Has $610,000 Stock Position in 3M (NYSE:MMM)

Tompkins Financial Corp lessened its stake in 3M (NYSE:MMM) by 15.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,462 shares of the conglomerate’s stock after selling 816 shares during the quarter. Tompkins Financial Corp’s holdings in 3M were worth $610,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of MMM. Ballentine Partners LLC lifted its position in 3M by 40.1% during the 3rd quarter. Ballentine Partners LLC now owns 18,217 shares of the conglomerate’s stock valued at $2,490,000 after purchasing an additional 5,210 shares during the period. Stonegate Investment Group LLC grew its position in shares of 3M by 5.6% during the 3rd quarter. Stonegate Investment Group LLC now owns 252,847 shares of the conglomerate’s stock worth $34,564,000 after buying an additional 13,473 shares during the period. Ausdal Financial Partners Inc. grew its position in shares of 3M by 6.7% during the 2nd quarter. Ausdal Financial Partners Inc. now owns 3,991 shares of the conglomerate’s stock worth $408,000 after buying an additional 249 shares during the period. Candriam S.C.A. raised its position in shares of 3M by 19.2% in the 2nd quarter. Candriam S.C.A. now owns 38,469 shares of the conglomerate’s stock valued at $3,931,000 after acquiring an additional 6,185 shares during the period. Finally, True Vision MN LLC bought a new position in 3M during the 2nd quarter worth approximately $512,000. 65.25% of the stock is owned by institutional investors.

3M Stock Performance

Shares of MMM stock traded up $1.27 on Friday, reaching $134.34. The stock had a trading volume of 3,466,066 shares, compared to its average volume of 4,182,127. 3M has a 12 month low of $75.40 and a 12 month high of $141.34. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41. The firm has a market capitalization of $73.16 billion, a price-to-earnings ratio of 16.96, a P/E/G ratio of 2.22 and a beta of 0.95. The firm’s 50-day moving average is $132.82 and its two-hundred day moving average is $116.50.

3M (NYSE:MMM) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share 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 for the quarter, compared to analyst estimates of $6.06 billion. During the same period in the previous year, the firm earned $2.68 EPS. The firm’s revenue was down 24.3% compared to the same quarter last year. On average, research analysts expect that 3M will post 7.27 EPS for the current fiscal year.

3M Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.80 annualized dividend and a yield of 2.08%. 3M’s dividend payout ratio is currently 35.35%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Melius Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. increased their price target on 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Deutsche Bank Aktiengesellschaft upgraded 3M from a “hold” rating to a “buy” rating and lifted their price objective for the company from $110.00 to $150.00 in a report on Monday, July 29th. Melius upgraded shares of 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Finally, Argus upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $139.27.

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.