Mission Wealth Management LP increased its position in shares of 3M (NYSE:MMM) by 28.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,369 shares of the conglomerate’s stock after acquiring an additional 1,403 shares during the quarter. Mission Wealth Management LP’s holdings in 3M were worth $1,499,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Lenox Wealth Advisors Inc. lifted its position in shares of 3M by 16,300.0% in the fourth quarter. Lenox Wealth Advisors Inc. now owns 492 shares of the conglomerate’s stock worth $116,000 after purchasing an additional 489 shares in the last quarter. Horan Capital Management bought a new stake in shares of 3M in the fourth quarter worth $123,000. Sawyer & Company Inc bought a new stake in shares of 3M in the fourth quarter worth $138,000. Field & Main Bank bought a new stake in shares of 3M in the fourth quarter worth $140,000. Finally, Mascoma Wealth Management LLC lifted its position in shares of 3M by 87.5% in the third quarter. Mascoma Wealth Management LLC now owns 750 shares of the conglomerate’s stock worth $157,000 after purchasing an additional 350 shares in the last quarter. 66.88% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Frank R. Jr. Little sold 3,133 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $236.85, for a total value of $742,051.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Inge G. Thulin sold 35,236 shares of the stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $251.14, for a total transaction of $8,849,169.04. Following the completion of the transaction, the chairman now directly owns 253,873 shares of the company’s stock, valued at approximately $63,757,665.22. The disclosure for this sale can be found here. Insiders sold 52,806 shares of company stock valued at $13,162,628 in the last three months. Company insiders own 0.58% of the company’s stock.
MMM opened at $212.25 on Friday. 3M has a twelve month low of $188.62 and a twelve month high of $259.77. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.86 and a quick ratio of 1.33. The stock has a market cap of $129,556.98, a P/E ratio of 23.15, a PEG ratio of 2.02 and a beta of 1.14.
3M (NYSE:MMM) last posted its quarterly earnings data on Thursday, January 25th. The conglomerate reported $2.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.03 by $0.07. 3M had a net margin of 15.35% and a return on equity of 48.34%. The business had revenue of $7.99 billion during the quarter, compared to analysts’ expectations of $7.85 billion. During the same quarter in the prior year, the business posted $1.88 earnings per share. 3M’s revenue was up 9.0% compared to the same quarter last year. analysts anticipate that 3M will post 10.57 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, March 12th. Stockholders of record on Friday, February 16th were issued a $1.36 dividend. The ex-dividend date was Thursday, February 15th. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.56%. This is a boost from 3M’s previous quarterly dividend of $0.01. 3M’s dividend payout ratio is 59.32%.
A number of equities analysts recently weighed in on the stock. Stifel Nicolaus restated a “hold” rating and set a $225.00 target price (down from $251.00) on shares of 3M in a report on Monday, April 2nd. Zacks Investment Research downgraded shares of 3M from a “buy” rating to a “hold” rating in a report on Wednesday, March 28th. Barclays lowered their target price on shares of 3M from $235.00 to $230.00 and set an “underweight” rating on the stock in a report on Monday, March 26th. Citigroup set a $284.00 price objective on shares of 3M and gave the company a “buy” rating in a report on Saturday, March 24th. Finally, ValuEngine downgraded shares of 3M from a “buy” rating to a “hold” rating in a report on Friday, March 23rd. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $253.22.
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3M Company operates as a diversified technology company worldwide. The company's Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; purification products; closure systems for personal hygiene products; acoustic systems products; automotive components; and abrasion-resistant films, and paint finishing and detailing products.
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