BKM Wealth Management LLC Buys 478 Shares of 3M (NYSE:MMM)

BKM Wealth Management LLC increased its stake in 3M (NYSE:MMM) by 22.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,598 shares of the conglomerate’s stock after acquiring an additional 478 shares during the period. BKM Wealth Management LLC’s holdings in 3M were worth $335,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of MMM. Financial Life Planners acquired a new stake in shares of 3M in the 4th quarter valued at $25,000. FSA Wealth Management LLC bought a new position in 3M in the third quarter valued at about $27,000. McClarren Financial Advisors Inc. increased its position in 3M by 118.6% in the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 121 shares during the period. Daymark Wealth Partners LLC raised its holdings in 3M by 9.0% during the 4th quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 19,552 shares during the last quarter. Finally, ORG Partners LLC lifted its position in 3M by 44.1% during 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. Institutional investors and hedge funds own 65.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MMM shares. Melius Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a research note on Tuesday, October 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of 3M in a research report on Saturday, February 1st. Royal Bank of Canada reissued an “underperform” rating and issued a $96.00 price target on shares of 3M in a research note on Wednesday, January 22nd. Citigroup lifted their price objective on 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Finally, Bank of America increased their target price on 3M from $160.00 to $175.00 and gave the company a “buy” rating in a research note 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $148.87.

Insider Activity at 3M

In other 3M news, insider Christian T. Goralski, Jr. sold 6,318 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $149.43, for a total transaction of $944,098.74. Following the completion of the transaction, the insider now owns 5,024 shares of the company’s stock, valued at $750,736.32. This represents a 55.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 completion of the sale, the chairman now owns 180,895 shares in the company, valued at $27,550,308.50. This trade represents a 21.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 113,639 shares of company stock valued at $17,163,446. 0.34% of the stock is owned by corporate insiders.

3M Stock Down 0.0 %

Shares of 3M stock opened at $148.65 on Tuesday. The company has a market capitalization of $80.70 billion, a P/E ratio of 19.69, a price-to-earnings-growth ratio of 3.37 and a beta of 0.96. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The business has a 50-day moving average of $138.80 and a two-hundred day moving average of $133.88. 3M has a 1 year low of $75.40 and a 1 year high of $155.00.

3M (NYSE:MMM) last posted 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. The business had revenue of $6.01 billion during 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%. 3M’s revenue for the quarter was down 25.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.42 EPS. As a group, equities analysts predict that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 14th will be issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.96%. This is a positive change from 3M’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, February 14th. 3M’s dividend payout ratio (DPR) is presently 37.09%.

3M Company 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.