TCI Wealth Advisors Inc. Has $1.37 Million Holdings in 3M (NYSE:MMM)

TCI Wealth Advisors Inc. decreased its position in 3M (NYSE:MMM) by 1.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,593 shares of the conglomerate’s stock after selling 194 shares during the period. TCI Wealth Advisors Inc.’s holdings in 3M were worth $1,367,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Gilbert & Cook Inc. grew its holdings in shares of 3M by 1.5% during the fourth quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate’s stock valued at $659,000 after buying an additional 73 shares during the last quarter. CVA Family Office LLC lifted its position in 3M by 1.9% in the 3rd quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate’s stock valued at $571,000 after acquiring an additional 79 shares in the last quarter. Wynn Capital LLC boosted its stake in 3M by 0.7% during the 4th quarter. Wynn Capital LLC now owns 11,690 shares of the conglomerate’s stock valued at $1,509,000 after purchasing an additional 80 shares during the last quarter. Harbour Investments Inc. increased its holdings in shares of 3M by 0.8% in the 3rd 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 raised its stake in shares of 3M by 0.5% in 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 last quarter. Institutional investors own 65.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MMM shares. Mizuho lifted their price objective on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Barclays lifted their price target on shares of 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Wells Fargo & Company upgraded shares of 3M from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. lifted their target price on shares of 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Finally, Royal Bank of Canada restated an “underperform” rating and issued a $96.00 price target on shares of 3M in a research note on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $148.87.

3M Stock Up 1.8 %

MMM opened at $154.31 on Friday. The stock has a market cap of $84.03 billion, a price-to-earnings ratio of 20.44, a price-to-earnings-growth ratio of 3.35 and a beta of 0.95. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The firm’s fifty day moving average is $134.73 and its 200 day moving average is $130.54. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $154.65.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The firm had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.77 billion. During the same quarter in the prior year, the company posted $2.42 earnings per share. The business’s quarterly revenue was down 25.0% compared to the same quarter last year. On average, sell-side analysts forecast that 3M will post 7.8 earnings per share for the current fiscal year.

3M Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were issued a $0.70 dividend. The ex-dividend date was Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a yield of 1.81%. 3M’s dividend payout ratio is currently 37.09%.

Insiders Place Their Bets

In related news, EVP Kevin H. Rhodes sold 6,743 shares of 3M 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 completion of the transaction, the executive vice president now owns 4,902 shares in the company, valued at approximately $734,564.70. This trade represents a 57.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $149.43, for a total value of $944,098.74. Following the sale, the insider now owns 5,024 shares in the company, valued at approximately $750,736.32. This trade represents a 55.70 % 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 worth $16,893,561 in the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

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.