Strengthening Families & Communities LLC Has $2.99 Million Stock Holdings in 3M (NYSE:MMM)

Strengthening Families & Communities LLC raised its position in 3M (NYSE:MMM) by 1.1% in the 4th quarter, HoldingsChannel reports. The fund owned 23,176 shares of the conglomerate’s stock after purchasing an additional 255 shares during the period. 3M makes up about 1.7% of Strengthening Families & Communities LLC’s investment portfolio, making the stock its 15th biggest holding. Strengthening Families & Communities LLC’s holdings in 3M were worth $2,991,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MMM. Gilbert & Cook Inc. increased its holdings in shares of 3M by 1.5% in the fourth quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate’s stock valued at $659,000 after purchasing an additional 73 shares during the last quarter. Childress Capital Advisors LLC boosted its holdings in shares of 3M by 5.1% during the 4th quarter. Childress Capital Advisors LLC now owns 1,573 shares of the conglomerate’s stock worth $203,000 after buying an additional 76 shares during the period. Wynn Capital LLC grew its stake in 3M by 0.7% in the 4th quarter. Wynn Capital LLC now owns 11,690 shares of the conglomerate’s stock valued at $1,509,000 after buying an additional 80 shares during the last quarter. Harbour Investments Inc. raised its holdings in 3M by 0.8% in the 3rd quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate’s stock valued at $1,443,000 after acquiring an additional 81 shares during the period. Finally, William Allan Corp boosted its holdings in shares of 3M by 1.4% during the fourth quarter. William Allan Corp now owns 5,959 shares of the conglomerate’s stock worth $769,000 after acquiring an additional 82 shares during the period. Institutional investors own 65.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on MMM shares. Melius upgraded 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Barclays lifted their target price on 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Wells Fargo & Company upgraded shares of 3M from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Bank of America lifted their price objective on shares of 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Finally, Royal Bank of Canada reaffirmed an “underperform” rating and set a $96.00 target price on shares of 3M in a 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.87.

Insiders Place Their Bets

In related news, Chairman Michael F. Roman sold 49,598 shares of 3M stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $152.30, for a total transaction of $7,553,775.40. Following the sale, the chairman now directly owns 180,895 shares in the company, valued at $27,550,308.50. This trade represents a 21.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Victoria Clarke sold 1,750 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now 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 quarter, insiders have sold 113,639 shares of company stock valued at $17,163,446. 0.34% of the stock is currently owned by insiders.

3M Trading Down 0.2 %

Shares of MMM opened at $149.59 on Tuesday. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. 3M has a 52-week low of $75.40 and a 52-week high of $155.00. The firm has a market cap of $81.21 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 3.37 and a beta of 0.96. The business’s fifty day moving average is $137.11 and its 200-day moving average is $132.92.

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

3M Increases Dividend

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

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.