Poinciana Advisors Group LLC Acquires Shares of 2,705 3M (NYSE:MMM)

Poinciana Advisors Group LLC acquired a new stake in 3M (NYSE:MMM) during the fourth quarter, Holdings Channel.com reports. The fund acquired 2,705 shares of the conglomerate’s stock, valued at approximately $349,000.

A number of other large investors have also recently made changes to their positions in the business. Intact Investment Management Inc. bought a new position in shares of 3M during the fourth quarter valued at about $71,000. Atala Financial Inc bought a new position in shares of 3M during the fourth quarter valued at about $168,000. LBP AM SA lifted its position in shares of 3M by 10.9% during the fourth quarter. LBP AM SA now owns 160,024 shares of the conglomerate’s stock valued at $20,657,000 after purchasing an additional 15,752 shares in the last quarter. Impact Capital Partners LLC bought a new position in shares of 3M during the fourth quarter valued at about $275,000. Finally, LFA Lugano Financial Advisors SA lifted its position in shares of 3M by 33.3% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 800 shares of the conglomerate’s stock valued at $103,000 after purchasing an additional 200 shares in the last quarter. 65.25% of the stock is owned by institutional investors.

3M Price Performance

MMM opened at $150.58 on Friday. The company has a market capitalization of $81.75 billion, a price-to-earnings ratio of 19.94, a PEG ratio of 3.30 and a beta of 0.97. 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 firm has a 50-day moving average price of $146.42 and a 200-day moving average price of $136.82. 3M has a twelve month low of $85.62 and a twelve month high of $156.35.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, beating the consensus estimate of $1.66 by $0.02. The company had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. 3M’s revenue for the quarter was down 25.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.42 earnings per share. Equities analysts expect that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were paid a dividend of $0.73 per share. The ex-dividend date was Friday, February 14th. This represents a $2.92 annualized dividend and a yield of 1.94%. This is a boost from 3M’s previous quarterly dividend of $0.70. 3M’s payout ratio is currently 38.68%.

Insider Activity at 3M

In related news, CAO Theresa E. Reinseth sold 2,309 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $149.95, for a total transaction of $346,234.55. Following the completion of the transaction, the chief accounting officer now owns 4,417 shares of the company’s stock, valued at approximately $662,329.15. The trade was a 34.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was 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 approximately $750,736.32. This represents a 55.70 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,639 shares of company stock valued at $17,163,446. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Royal Bank of Canada reissued an “underperform” rating and set a $96.00 price target on shares of 3M in a research report on Thursday, February 27th. Citigroup raised 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. Bank of America lifted their price objective on shares of 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. JPMorgan Chase & Co. lifted their price objective on shares of 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of 3M in a research report on Friday, March 7th. 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $149.13.

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.