Strategic Advisors LLC Buys 100 Shares of 3M (NYSE:MMM)

Strategic Advisors LLC boosted its stake in shares of 3M (NYSE:MMM) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,866 shares of the conglomerate’s stock after acquiring an additional 100 shares during the quarter. Strategic Advisors LLC’s holdings in 3M were worth $757,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of 3M by 1.1% in the 3rd quarter. State Street Corp now owns 27,194,612 shares of the conglomerate’s stock valued at $3,717,503,000 after purchasing an additional 302,900 shares during the last quarter. FMR LLC boosted its stake in shares of 3M by 88.7% in the 3rd quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock valued at $1,225,087,000 after purchasing an additional 4,212,409 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of 3M by 1.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,815,625 shares of the conglomerate’s stock valued at $521,596,000 after purchasing an additional 43,942 shares during the last quarter. National Pension Service boosted its stake in shares of 3M by 14.5% in the 3rd quarter. National Pension Service now owns 1,268,003 shares of the conglomerate’s stock valued at $173,336,000 after purchasing an additional 161,036 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in shares of 3M by 11,601.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate’s stock valued at $172,416,000 after purchasing an additional 1,250,491 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

3M Price Performance

Shares of MMM opened at $148.65 on Monday. The stock has a market capitalization of $80.70 billion, a P/E ratio of 19.69, a P/E/G ratio of 3.37 and a beta of 0.96. 3M has a twelve month low of $75.40 and a twelve month high of $155.00. The company has a 50 day moving average of $138.80 and a 200-day moving average of $133.83. 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 (NYSE:MMM) last issued its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping 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%. The business’s quarterly revenue was down 25.0% on a year-over-year basis. During the same period last year, the business earned $2.42 EPS. As a group, equities research analysts forecast that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 14th will be paid a $0.73 dividend. The ex-dividend date is Friday, February 14th. This is a boost from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a dividend yield of 1.96%. 3M’s dividend payout ratio (DPR) is currently 37.09%.

Insider Activity at 3M

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of 3M stock in a transaction on Monday, January 27th. The shares were sold at an average price of $150.25, for a total transaction of $247,161.25. Following the completion of the transaction, the insider now directly owns 5,153 shares of the company’s stock, valued at $774,238.25. The trade was a 24.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Victoria Clarke sold 1,750 shares of 3M stock in a transaction 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 transaction, the executive vice president now directly owns 194 shares of the company’s stock, valued at approximately $29,918.68. This trade represents a 90.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 113,639 shares of company stock valued at $17,163,446. 0.34% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on MMM shares. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $96.00 target price on shares of 3M in a research note on Wednesday, January 22nd. UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and increased their price target for the company from $130.00 to $184.00 in a research report on Wednesday, November 13th. Bank of America increased their price target on shares of 3M from $160.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research report on Tuesday, October 22nd. Finally, 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. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $148.87.

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.