Stratos Wealth Advisors LLC Has $496,000 Position in 3M (NYSE:MMM)

Stratos Wealth Advisors LLC reduced its stake in 3M (NYSE:MMM) by 7.7% during the fourth quarter, HoldingsChannel reports. The firm owned 3,839 shares of the conglomerate’s stock after selling 320 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in 3M were worth $496,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Financial Life Planners acquired a new stake in shares of 3M in the 4th quarter valued at approximately $25,000. FSA Wealth Management LLC acquired a new stake in shares of 3M in the 3rd quarter valued at approximately $27,000. Daymark Wealth Partners LLC boosted its stake in shares of 3M by 8.6% in the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 17,211 shares in the last quarter. McClarren Financial Advisors Inc. boosted its position in 3M by 118.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after buying an additional 121 shares during the period. Finally, ORG Partners LLC boosted its position in 3M by 44.1% during the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after buying an additional 98 shares during the period. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Stock Performance

NYSE:MMM opened at $149.90 on Friday. The company has a fifty day moving average of $136.78 and a 200-day moving average of $132.21. The firm has a market capitalization of $81.63 billion, a P/E ratio of 19.85, a P/E/G ratio of 3.37 and a beta of 0.96. 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 $75.40 and a twelve month high of $155.00.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. The business had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. 3M’s quarterly revenue was down 25.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.42 EPS. As a group, sell-side analysts anticipate that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Friday, February 14th. This is a positive change from 3M’s previous quarterly dividend of $0.70. 3M’s payout ratio is 37.09%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Mizuho lifted their target price on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $130.00 to $184.00 in a research report on Wednesday, November 13th. Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a research report on Tuesday, October 22nd. Royal Bank of Canada reiterated an “underperform” rating and set a $96.00 target price on shares of 3M in a research report on Wednesday, January 22nd. Finally, Bank of America raised their price target on shares of 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.87.

Insider Buying and Selling at 3M

In other 3M news, insider Christian T. Goralski, Jr. sold 6,318 shares of the business’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 sale, the insider now owns 5,024 shares in the company, valued at approximately $750,736.32. The trade was a 55.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $269,885.00. Following the sale, the executive vice president now owns 194 shares of the company’s stock, valued at $29,918.68. This trade represents a 90.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,639 shares of company stock worth $17,163,446. 0.38% of the stock is owned by corporate insiders.

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.