Tompkins Financial Corp Has $520,000 Stock Holdings in 3M (NYSE:MMM)

Tompkins Financial Corp lowered its stake in 3M (NYSE:MMM) by 24.5% during the second quarter, HoldingsChannel.com reports. The firm owned 5,200 shares of the conglomerate’s stock after selling 1,690 shares during the period. Tompkins Financial Corp’s holdings in 3M were worth $520,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Financial Freedom LLC acquired a new position in 3M in the fourth quarter valued at about $25,000. Financial Management Professionals Inc. increased its stake in shares of 3M by 1,538.9% in the 1st quarter. Financial Management Professionals Inc. now owns 295 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 277 shares during the last quarter. Artemis Wealth Advisors LLC raised its position in shares of 3M by 1,361.9% in the 1st quarter. Artemis Wealth Advisors LLC now owns 307 shares of the conglomerate’s stock valued at $32,000 after acquiring an additional 286 shares during the period. 25 LLC bought a new position in 3M during the 1st quarter worth approximately $33,000. Finally, Retirement Group LLC boosted its position in shares of 3M by 267.0% during the first quarter. Retirement Group LLC now owns 367 shares of the conglomerate’s stock worth $39,000 after purchasing an additional 267 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors.

3M Stock Performance

Shares of 3M stock traded down $0.57 on Tuesday, reaching $100.47. 474,792 shares of the company were exchanged, compared to its average volume of 3,605,842. The company has a current ratio of 1.44, a quick ratio of 0.96 and a debt-to-equity ratio of 1.65. 3M has a one year low of $92.38 and a one year high of $133.91. The company has a 50-day moving average of $104.39 and a 200 day moving average of $102.92.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.44. The firm had revenue of $7.99 billion during the quarter, compared to analysts’ expectations of $7.88 billion. 3M had a negative net margin of 4.43% and a positive return on equity of 38.99%. The company’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.48 earnings per share. As a group, sell-side analysts expect that 3M will post 8.95 EPS for the current fiscal year.

3M Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Monday, August 21st were paid a $1.50 dividend. The ex-dividend date of this dividend was Friday, August 18th. This represents a $6.00 annualized dividend and a yield of 5.97%. 3M’s dividend payout ratio is -211.27%.

Analyst Ratings Changes

Several brokerages recently issued reports on MMM. HSBC initiated coverage on 3M in a research report on Friday. They issued a “hold” rating and a $109.00 price objective for the company. VNET Group restated a “maintains” rating on shares of 3M in a report on Tuesday, June 27th. Bank of America raised shares of 3M from an “underperform” rating to a “neutral” rating and set a $110.00 target price for the company in a research note on Tuesday, July 11th. Wells Fargo & Company dropped their price target on 3M from $110.00 to $100.00 in a research note on Monday, July 10th. Finally, Royal Bank of Canada upped their price objective on 3M from $95.00 to $100.00 in a research report on Wednesday, July 26th. One analyst has rated the stock with a sell rating and eleven have issued a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $113.08.

3M Company Profile

3M Company provides diversified technology services in the United States and internationally. The company operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The 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.