By otakuyassine3@gmail.com 
AA Financial Advisors LLC lowered its position in 3M (NYSE:MMM – Free Report) by 7.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,917 shares of the conglomerate’s stock after selling 327 shares during the quarter. AA Financial Advisors LLC’s holdings in 3M were worth $506,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Gilbert & Cook Inc. boosted its stake in 3M by 1.5% during the fourth quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate’s stock worth $659,000 after buying an additional 73 shares in the last quarter. CVA Family Office LLC lifted its holdings in shares of 3M by 1.9% during the 3rd quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate’s stock worth $571,000 after acquiring an additional 79 shares during the period. Wynn Capital LLC increased its stake in 3M by 0.7% in the fourth quarter. Wynn Capital LLC now owns 11,690 shares of the conglomerate’s stock valued at $1,509,000 after acquiring an additional 80 shares during the period. Harbour Investments Inc. raised its position in 3M by 0.8% in the third quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate’s stock worth $1,443,000 after purchasing an additional 81 shares in the last quarter. Finally, KMG Fiduciary Partners LLC lifted its stake in 3M by 0.5% during the third quarter. KMG Fiduciary Partners LLC now owns 16,186 shares of the conglomerate’s stock worth $2,213,000 after purchasing an additional 84 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.
3M Trading Up 1.8 %
MMM stock opened at $154.31 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. 3M has a twelve month low of $75.40 and a twelve month high of $154.65. The company has a market cap of $84.03 billion, a P/E ratio of 20.44, a PEG ratio of 3.35 and a beta of 0.95. The business has a fifty day moving average of $134.20 and a 200-day moving average of $130.37.
3M (NYSE:MMM – Get Free Report) last released its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. 3M had a net margin of 15.71% and a return on equity of 100.77%. The company had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.77 billion. During the same period in the prior year, the company posted $2.42 EPS. The company’s revenue was down 25.0% compared to the same quarter last year. As a group, equities research analysts expect that 3M will post 7.8 EPS for the current year.
3M Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend was Friday, November 15th. 3M’s payout ratio is 37.09%.
Insider Activity
In other 3M news, Chairman Michael F. Roman sold 49,598 shares of the stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $152.30, for a total value of $7,553,775.40. Following the transaction, the chairman now owns 180,895 shares of the company’s stock, valued at approximately $27,550,308.50. This represents a 21.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kevin H. Rhodes sold 6,743 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $149.85, for a total value of $1,010,438.55. Following the transaction, the executive vice president now owns 4,902 shares of the company’s stock, valued at $734,564.70. The trade was a 57.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 111,889 shares of company stock valued at $16,893,561 in the last 90 days. 0.34% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
MMM has been the subject of a number of recent research reports. Melius raised 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Citigroup increased their price objective on 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Barclays boosted their target price on shares of 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a research report on Tuesday, October 22nd. Finally, Wells Fargo & Company upgraded shares of 3M from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $148.87.
View Our Latest Research Report on MMM
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.
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