3M (NYSE:MMM) Shares Sold by Empirical Finance LLC

Empirical Finance LLC reduced its stake in 3M (NYSE:MMM) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,825 shares of the conglomerate’s stock after selling 254 shares during the quarter. Empirical Finance LLC’s holdings in 3M were worth $2,430,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Financial Life Planners acquired a new stake in shares of 3M during the 4th quarter worth about $25,000. FSA Wealth Management LLC purchased a new position in shares of 3M during the third quarter valued at approximately $27,000. McClarren Financial Advisors Inc. grew its stake in 3M by 118.6% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 121 shares during the period. True Wealth Design LLC raised its holdings in 3M by 2,466.7% in the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock valued at $42,000 after acquiring an additional 296 shares during the last quarter. Finally, ORG Partners LLC lifted its stake in shares of 3M by 44.1% during the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after purchasing an additional 98 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Stock Performance

Shares of NYSE:MMM opened at $149.90 on Monday. The business’s 50-day simple moving average is $137.11 and its 200 day simple moving average is $132.72. The company has a market cap of $81.38 billion, a P/E ratio of 19.85, a PEG ratio of 3.37 and a beta of 0.96. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. 3M has a one year low of $75.40 and a one year high of $155.00.

3M (NYSE:MMM) last posted its quarterly earnings data 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. The company had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The business’s quarterly revenue was down 25.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.42 earnings per share. On average, sell-side analysts forecast that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.73 per share. The ex-dividend date is Friday, February 14th. This is an increase from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a dividend yield of 1.95%. 3M’s dividend payout ratio (DPR) is currently 38.68%.

Insider Transactions at 3M

In related news, CAO Theresa E. Reinseth sold 2,309 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $662,329.15. This represents a 34.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Victoria Clarke sold 1,750 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $154.22, for a total transaction of $269,885.00. Following the completion of the sale, the executive vice president now owns 194 shares in the company, valued at approximately $29,918.68. This trade represents a 90.02 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,639 shares of company stock valued at $17,163,446. 0.34% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently commented on MMM. Royal Bank of Canada reiterated an “underperform” rating and issued a $96.00 target price on shares of 3M in a research note on Wednesday, January 22nd. Citigroup upped their price objective on shares of 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. UBS Group raised shares of 3M from a “neutral” rating to a “buy” rating and raised their target price for the stock from $130.00 to $184.00 in a research report on Wednesday, November 13th. Mizuho upped their price target on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Melius upgraded shares of 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Two equities research 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $148.87.

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.