Motley Fool Asset Management LLC Has $3.23 Million Stock Position in 3M (NYSE:MMM)

Motley Fool Asset Management LLC lifted its position in shares of 3M (NYSE:MMM) by 13.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,020 shares of the conglomerate’s stock after acquiring an additional 2,910 shares during the quarter. Motley Fool Asset Management LLC’s holdings in 3M were worth $3,230,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in MMM. Financial Life Planners bought a new stake in 3M during the 4th quarter worth about $25,000. Proficio Capital Partners LLC acquired a new stake in shares of 3M during the 4th quarter worth approximately $26,000. Hazlett Burt & Watson Inc. bought a new stake in shares of 3M during the fourth quarter worth approximately $27,000. Daymark Wealth Partners LLC lifted its holdings in 3M by 9.0% in the fourth 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 during the period. Finally, Meeder Asset Management Inc. boosted its stake in 3M by 230.1% in the fourth quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate’s stock valued at $40,000 after acquiring an additional 214 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Insider Buying and Selling

In other news, EVP Victoria Clarke sold 1,750 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 194 shares in the company, valued at $29,918.68. This represents a 90.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 transaction of $944,098.74. Following the completion of the transaction, 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. Over the last quarter, insiders have sold 113,639 shares of company stock worth $17,163,446. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

MMM has been the topic of a number of analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of 3M in a research note on Saturday, March 22nd. Wells Fargo & Company raised 3M from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Royal Bank of Canada restated an “underperform” rating and set a $96.00 target price on shares of 3M in a research report on Thursday, February 27th. Citigroup increased their price target on shares of 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Two 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, 3M has a consensus rating of “Moderate Buy” and an average target price of $149.13.

3M Trading Up 0.1 %

NYSE MMM opened at $147.85 on Thursday. 3M has a 52 week low of $89.54 and a 52 week high of $156.35. 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’s 50 day moving average price is $149.71 and its two-hundred day moving average price is $138.56. The stock has a market capitalization of $79.74 billion, a price-to-earnings ratio of 19.58, a PEG ratio of 3.30 and a beta of 0.97.

3M (NYSE:MMM) last announced its 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 net margin of 15.71% and a return on equity of 100.77%. The business had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.77 billion. During the same quarter in the prior year, the company posted $2.42 earnings per share. The firm’s revenue was down 25.0% on a year-over-year basis. As a group, analysts anticipate 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 was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were given a $0.73 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.97%. This is an increase from 3M’s previous quarterly dividend of $0.70. 3M’s payout ratio is currently 38.68%.

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.