3M (NYSE:MMM) Shares Acquired by Secured Retirement Advisors LLC

Secured Retirement Advisors LLC boosted its stake in 3M (NYSE:MMM) by 5.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,171 shares of the conglomerate’s stock after buying an additional 208 shares during the period. Secured Retirement Advisors LLC’s holdings in 3M were worth $538,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp lifted its position in 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 increased its stake in shares of 3M by 88.7% in the third 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of 3M by 1.2% during the third 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 buying an additional 43,942 shares during the last quarter. National Pension Service raised its holdings in shares of 3M by 14.5% during the third quarter. National Pension Service now owns 1,268,003 shares of the conglomerate’s stock valued at $173,336,000 after buying an additional 161,036 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in 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 worth $172,416,000 after buying an additional 1,250,491 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Royal Bank of Canada reaffirmed an “underperform” rating and set a $96.00 target price on shares of 3M in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. lifted their price objective on shares of 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Barclays increased their target price on shares of 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $130.00 to $184.00 in a research report on Wednesday, November 13th. Finally, Melius upgraded shares of 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, 3M has a consensus rating of “Moderate Buy” and a consensus target price of $148.87.

3M Stock Performance

Shares of NYSE MMM opened at $148.65 on Friday. The stock’s fifty day simple moving average is $138.80 and its 200 day simple moving average is $133.79. The stock has a market capitalization of $80.70 billion, a price-to-earnings ratio of 19.69, a PEG 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 52-week low of $75.40 and a 52-week high of $155.00.

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 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 for the quarter, compared to analysts’ expectations of $5.77 billion. During the same quarter last year, the business posted $2.42 EPS. 3M’s revenue was down 25.0% on a year-over-year basis. As a group, sell-side analysts forecast that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th will be given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 1.96%. This is a boost from 3M’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, February 14th. 3M’s payout ratio is presently 37.09%.

Insider Buying and Selling at 3M

In other news, CAO Theresa E. Reinseth sold 2,309 shares of 3M stock in a transaction on Friday, January 24th. The stock was sold at an average price of $149.95, for a total transaction of $346,234.55. Following the transaction, the chief accounting officer now owns 4,417 shares in the company, valued at approximately $662,329.15. The trade was a 34.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Michael F. Roman sold 45,276 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $150.01, for a total value of $6,791,852.76. Following the completion of the sale, the chairman now directly owns 175,718 shares of the company’s stock, valued at approximately $26,359,457.18. This represents a 20.49 % 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 three months. 0.34% of the stock is currently owned by company insiders.

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.