Sequoia Financial Advisors LLC boosted its position in 3M (NYSE:MMM - Free Report) by 22.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,404 shares of the conglomerate's stock after purchasing an additional 7,342 shares during the quarter. Sequoia Financial Advisors LLC's holdings in 3M were worth $5,216,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Financial Life Planners bought a new stake in 3M in the 4th quarter valued at $25,000. Proficio Capital Partners LLC bought a new stake in 3M in the 4th quarter valued at $26,000. FSA Wealth Management LLC bought a new stake in 3M in the 3rd quarter valued at $27,000. Daymark Wealth Partners LLC boosted its stake in 3M by 9.0% in the 4th quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate's stock valued at $31,000 after purchasing an additional 19,552 shares during the period. Finally, ORG Partners LLC boosted its stake in 3M by 44.1% in the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate's stock valued at $41,000 after purchasing an additional 98 shares during the period. 65.25% of the stock is currently owned by institutional investors.
Several analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on 3M from $162.00 to $165.00 and gave the company an "overweight" rating in a research note on Wednesday, January 22nd. Weiss Ratings reiterated a "hold (c+)" rating on shares of 3M in a research report on Friday, March 7th. Royal Bank of Canada reiterated an "underperform" rating and set a $96.00 target price on shares of 3M in a research report on Thursday, February 27th. Citigroup upped their target price on 3M from $142.00 to $152.00 and gave the company a "neutral" rating in a research report on Wednesday, January 22nd. Finally, Barclays upped their target price on 3M from $161.00 to $165.00 and gave the company an "overweight" rating in a research report on Wednesday, January 22nd. Two research 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 MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $149.13.
Read Our Latest Report on MMM
Shares of MMM stock opened at $145.97 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. 3M has a twelve month low of $85.48 and a twelve month high of $156.35. The company has a market cap of $79.25 billion, a P/E ratio of 19.33, a P/E/G ratio of 3.30 and a beta of 0.97. The business has a fifty day simple moving average of $146.01 and a 200 day simple moving average of $136.69.
3M (NYSE:MMM - Get Free Report) last issued its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. 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 firm earned $2.42 EPS. The business's revenue for the quarter was down 25.0% compared to the same quarter last year. On average, sell-side analysts forecast that 3M will post 7.8 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th were issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from 3M's previous quarterly dividend of $0.70. 3M's dividend payout ratio is presently 38.68%.
In other news, EVP Victoria Clarke sold 1,750 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $154.22, for a total value 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 approximately $29,918.68. This represents a 90.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $149.43, for a total value of $944,098.74. Following the completion of the sale, the insider now directly owns 5,024 shares of the company's stock, valued at approximately $750,736.32. The trade was a 55.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,639 shares of company stock valued at $17,163,446 in the last 90 days. Corporate insiders own 0.38% of the company's stock.
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.
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