3M (NYSE:MMM) is SilverOak Wealth Management LLC’s 10th Largest Position

SilverOak Wealth Management LLC grew its holdings in 3M (NYSE:MMM) by 4.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 86,692 shares of the conglomerate’s stock after acquiring an additional 3,711 shares during the period. 3M accounts for 2.4% of SilverOak Wealth Management LLC’s portfolio, making the stock its 10th largest holding. SilverOak Wealth Management LLC’s holdings in 3M were worth $11,191,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Financial Life Planners purchased a new position in 3M during the fourth quarter valued at $25,000. FSA Wealth Management LLC bought a new position in shares of 3M in the third quarter worth about $27,000. Daymark Wealth Partners LLC lifted its position in shares of 3M by 9.0% during the 4th quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate’s stock valued at $31,000 after buying an additional 19,552 shares in the last quarter. ORG Partners LLC lifted its position in shares of 3M by 44.1% during the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after buying an additional 98 shares in the last quarter. Finally, True Wealth Design LLC grew its stake in shares of 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 acquiring an additional 296 shares during the period. Institutional investors own 65.25% of the company’s stock.

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 shares were sold at an average price of $149.85, for a total transaction of $1,010,438.55. Following the completion of the sale, the executive vice president now owns 4,902 shares in the company, valued at $734,564.70. This trade represents a 57.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of 3M stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $149.43, for a total transaction of $944,098.74. Following the sale, the insider now directly owns 5,024 shares of the company’s stock, valued at $750,736.32. This represents a 55.70 % 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 over the last three months. 0.38% of the stock is owned by company insiders.

3M Stock Performance

Shares of NYSE:MMM opened at $148.85 on Wednesday. The firm has a fifty day simple moving average of $139.53 and a two-hundred day simple moving average of $134.20. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The stock has a market capitalization of $80.81 billion, a P/E ratio of 19.71, a PEG ratio of 3.29 and a beta of 0.96. 3M has a 52 week low of $75.40 and a 52 week high of $155.00.

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

3M Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 14th will be issued a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from 3M’s previous quarterly dividend of $0.70. 3M’s dividend payout ratio is presently 38.68%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Barclays lifted their price target on shares of 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 shares of 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Royal Bank of Canada reiterated an “underperform” rating and issued a $96.00 price target on shares of 3M in a research note on Wednesday, January 22nd. UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and increased their target price for the stock from $130.00 to $184.00 in a research report on Wednesday, November 13th. Finally, Melius raised 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 assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $148.87.

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.