Gladstone Institutional Advisory LLC Raises Stock Position in 3M (NYSE:MMM)

Gladstone Institutional Advisory LLC boosted its position in shares of 3M (NYSE:MMM) by 74.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,020 shares of the conglomerate’s stock after acquiring an additional 14,496 shares during the period. Gladstone Institutional Advisory LLC’s holdings in 3M were worth $4,392,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Financial Life Planners acquired a new stake in shares of 3M in the 4th quarter worth $25,000. FSA Wealth Management LLC purchased a new stake in shares of 3M during the third quarter worth about $27,000. McClarren Financial Advisors Inc. increased its holdings in shares of 3M by 118.6% during the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 121 shares in the last quarter. True Wealth Design LLC increased its stake in 3M by 2,466.7% during the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock valued at $42,000 after purchasing an additional 296 shares in the last quarter. Finally, ORG Partners LLC lifted its stake 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 buying an additional 98 shares during the period. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other 3M news, EVP Victoria Clarke sold 1,750 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was 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 of the company’s stock, valued at $29,918.68. This trade represents a 90.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the transaction, the chief accounting officer now directly owns 4,417 shares in the company, valued at approximately $662,329.15. This trade represents a 34.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,639 shares of company stock valued at $17,163,446 in the last three months. 0.34% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MMM has been the topic of several research reports. JPMorgan Chase & Co. upped their target price on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Barclays increased their price objective on 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Citigroup lifted their target price on 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Mizuho increased their price target on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $130.00 to $184.00 in a research note on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $148.87.

3M Stock Up 0.2 %

Shares of MMM opened at $150.06 on Wednesday. The stock has a 50 day moving average price of $137.44 and a 200 day moving average price of $133.25. 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 stock has a market capitalization of $81.47 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 3.37 and a beta of 0.96. 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 results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.02. 3M had a net margin of 15.71% and a return on equity of 100.77%. The firm had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.77 billion. During the same period last year, the firm posted $2.42 earnings per share. The company’s revenue for the quarter was down 25.0% on a year-over-year basis. Equities research analysts forecast that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th will be issued a $0.73 dividend. This is a boost from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a yield of 1.95%. The ex-dividend date is Friday, February 14th. 3M’s dividend payout ratio is presently 37.09%.

3M Company Profile

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.