3M (NYSE:MMM) Holdings Decreased by FSB Premier Wealth Management Inc.

FSB Premier Wealth Management Inc. reduced its holdings in 3M (NYSE:MMM) by 10.8% in the 4th quarter, Holdings Channel reports. The fund owned 1,829 shares of the conglomerate’s stock after selling 221 shares during the period. FSB Premier Wealth Management Inc.’s holdings in 3M were worth $236,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MMM. Financial Life Planners purchased a new stake in shares of 3M in the fourth quarter worth approximately $25,000. Proficio Capital Partners LLC acquired a new position in 3M in the 4th quarter valued at approximately $26,000. FSA Wealth Management LLC purchased a new stake in 3M in the 3rd quarter worth approximately $27,000. Hazlett Burt & Watson Inc. acquired a new stake in shares of 3M during the 4th quarter valued at $27,000. Finally, Daymark Wealth Partners LLC grew its holdings 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 acquiring an additional 19,552 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at 3M

In other news, EVP Victoria Clarke sold 1,750 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $154.22, for a total value of $269,885.00. Following the sale, the executive vice president now owns 194 shares in the company, valued at approximately $29,918.68. The trade was a 90.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the firm’s stock in a transaction 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 directly owns 5,024 shares of the company’s stock, valued at $750,736.32. This 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 113,639 shares of company stock valued at $17,163,446 over the last quarter. 0.34% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MMM. Barclays increased their price objective on 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $140.00 to $170.00 in a report on Wednesday, January 22nd. Bank of America increased their price objective on 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of 3M in a research note on Saturday, March 22nd. Finally, Royal Bank of Canada restated an “underperform” rating and set a $96.00 price target on shares of 3M in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $149.13.

3M Stock Up 1.5 %

MMM stock opened at $147.03 on Tuesday. The stock has a market capitalization of $79.82 billion, a price-to-earnings ratio of 19.47, a price-to-earnings-growth ratio of 3.30 and a beta of 0.97. The company has a 50-day moving average of $149.72 and a two-hundred day moving average of $138.39. 3M has a 52-week low of $88.23 and a 52-week high of $156.35. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08.

3M (NYSE:MMM) last announced its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, beating 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 firm had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same quarter in the prior year, the company earned $2.42 EPS. The firm’s revenue for the quarter was down 25.0% compared to the same quarter last year. As a group, equities research analysts anticipate that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th were given a dividend of $0.73 per share. This is a positive change from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend was Friday, February 14th. 3M’s payout ratio is 38.68%.

3M 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.