Ausdal Financial Partners Inc. Has $574,000 Position in 3M (NYSE:MMM)

Ausdal Financial Partners Inc. increased its holdings in shares of 3M (NYSE:MMM) by 16.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 4,450 shares of the conglomerate’s stock after purchasing an additional 633 shares during the period. Ausdal Financial Partners Inc.’s holdings in 3M were worth $574,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Financial Engines Advisors L.L.C. boosted its position in shares of 3M by 204.2% in the fourth quarter. Financial Engines Advisors L.L.C. now owns 6,377 shares of the conglomerate’s stock valued at $823,000 after acquiring an additional 4,281 shares during the period. Financial Counselors Inc. raised its stake in 3M by 28.9% during the 4th quarter. Financial Counselors Inc. now owns 29,259 shares of the conglomerate’s stock valued at $3,777,000 after purchasing an additional 6,552 shares during the last quarter. Ariadne Wealth Management LP boosted its holdings in 3M by 5.2% in the 4th quarter. Ariadne Wealth Management LP now owns 2,838 shares of the conglomerate’s stock valued at $366,000 after purchasing an additional 141 shares during the period. Zions Bancorporation N.A. grew its position in 3M by 254.0% in the 4th quarter. Zions Bancorporation N.A. now owns 446 shares of the conglomerate’s stock worth $58,000 after purchasing an additional 320 shares during the last quarter. Finally, TIAA Trust National Association increased its holdings in shares of 3M by 2.0% during the 4th quarter. TIAA Trust National Association now owns 55,071 shares of the conglomerate’s stock worth $7,109,000 after purchasing an additional 1,061 shares during the period. Institutional investors own 65.25% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Victoria Clarke sold 1,750 shares of the company’s 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 owns 194 shares of the company’s stock, valued at $29,918.68. This represents a 90.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of 3M stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $150.25, for a total value of $247,161.25. Following the completion of the sale, the insider now owns 5,153 shares of the company’s stock, valued at approximately $774,238.25. The trade was a 24.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,639 shares of company stock valued at $17,163,446 in the last 90 days. 0.34% of the stock is currently owned by insiders.

3M Stock Performance

NYSE MMM opened at $148.48 on Friday. 3M has a 1-year low of $87.45 and a 1-year high of $156.35. The company has a 50 day moving average of $149.52 and a 200-day moving average of $138.06. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. The firm has a market cap of $80.61 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 3.30 and a beta of 0.97.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, beating 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 firm had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.77 billion. During the same period last year, the firm posted $2.42 EPS. The business’s revenue was down 25.0% on a year-over-year basis. On average, equities analysts forecast that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were given a dividend of $0.73 per share. This is an increase from 3M’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.92 annualized dividend and a yield of 1.97%. 3M’s dividend payout ratio is 38.68%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MMM shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of 3M in a research note on Saturday, March 22nd. JPMorgan Chase & Co. raised their price objective on 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Royal Bank of Canada restated an “underperform” rating and set a $96.00 price objective on shares of 3M in a research report on Thursday, February 27th. Barclays raised their target price on 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $140.00 to $170.00 in a report on Wednesday, January 22nd. Two equities research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $149.13.

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.