Inman Jager Wealth Management LLC Takes Position in 3M (NYSE:MMM)

Inman Jager Wealth Management LLC bought a new stake in 3M (NYSE:MMM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,365 shares of the conglomerate’s stock, valued at approximately $1,338,000. 3M makes up approximately 1.0% of Inman Jager Wealth Management LLC’s portfolio, making the stock its 28th largest position.

Several other institutional investors and hedge funds have also bought and sold shares of MMM. Financial Life Planners bought a new position in 3M during the fourth quarter valued at $25,000. FSA Wealth Management LLC bought a new position in 3M during the third quarter valued at $27,000. Daymark Wealth Partners LLC lifted its position in shares of 3M by 8.6% during the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 17,211 shares in the last quarter. McClarren Financial Advisors Inc. lifted its position in shares of 3M by 118.6% during the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 121 shares in the last quarter. Finally, ORG Partners LLC lifted its position in shares of 3M by 44.1% during the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after acquiring an additional 98 shares in the last quarter. 65.25% of the stock is owned by institutional investors.

Insider Buying and Selling at 3M

In other 3M news, Chairman Michael F. Roman sold 49,598 shares of 3M stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $152.30, for a total transaction of $7,553,775.40. Following the sale, the chairman now directly owns 180,895 shares of the company’s stock, valued at approximately $27,550,308.50. The trade was a 21.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Theresa E. Reinseth sold 2,309 shares of 3M stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $149.95, for a total value of $346,234.55. Following the sale, the chief accounting officer now directly owns 4,417 shares in the company, valued at approximately $662,329.15. The trade was a 34.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,639 shares of company stock valued at $17,163,446. 0.38% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MMM has been the topic of several recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of 3M in a research report on Saturday, February 1st. Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Citigroup increased their price objective on 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $130.00 to $184.00 in a research report on Wednesday, November 13th. Finally, Bank of America increased their price objective on 3M from $160.00 to $175.00 and gave the stock a “buy” rating 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. Based on data from MarketBeat.com, 3M has a consensus rating of “Moderate Buy” and an average target price of $148.87.

3M Stock Up 0.5 %

Shares of NYSE:MMM opened at $152.43 on Thursday. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. The stock has a market capitalization of $83.01 billion, a P/E ratio of 20.19, a price-to-earnings-growth ratio of 3.37 and a beta of 0.96. 3M has a 12-month low of $75.40 and a 12-month high of $155.00. The stock’s 50-day moving average price is $135.98 and its 200-day moving average price is $131.93.

3M (NYSE:MMM) last posted its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.02. The company had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. 3M’s quarterly revenue was down 25.0% on a year-over-year basis. During the same period last year, the firm earned $2.42 earnings per share. On average, equities analysts anticipate that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 14th will be paid a $0.73 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a dividend yield of 1.92%. 3M’s dividend payout ratio (DPR) is presently 37.09%.

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.