Global Retirement Partners LLC Has $1.96 Million Position in 3M (NYSE:MMM)

Global Retirement Partners LLC boosted its holdings in 3M (NYSE:MMMFree Report) by 18.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,149 shares of the conglomerate’s stock after buying an additional 2,395 shares during the period. Global Retirement Partners LLC’s holdings in 3M were worth $1,956,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of MMM. Financial Life Planners acquired a new position in 3M in the fourth quarter valued at approximately $25,000. FSA Wealth Management LLC bought a new stake in 3M in the third quarter valued at approximately $27,000. Daymark Wealth Partners LLC increased its stake in 3M by 9.0% in the fourth quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 19,552 shares in the last quarter. ORG Partners LLC increased its stake in 3M by 44.1% in the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after purchasing an additional 98 shares in the last quarter. Finally, True Wealth Design LLC increased its stake in 3M by 2,466.7% in the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock valued at $42,000 after purchasing an additional 296 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at 3M

In other 3M news, insider Christian T. Goralski, Jr. sold 6,318 shares of the stock in a transaction on Friday, January 24th. The shares were sold at an average price of $149.43, for a total value of $944,098.74. Following the completion of the sale, the insider now owns 5,024 shares in the company, valued at $750,736.32. This trade represents a 55.70 % 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, EVP Victoria Clarke sold 1,750 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was 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 approximately $29,918.68. This represents a 90.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,639 shares of company stock worth $17,163,446 over the last quarter. 0.34% of the stock is currently owned by insiders.

3M Stock Down 0.7 %

3M stock opened at $149.08 on Friday. The company has a market cap of $80.93 billion, a P/E ratio of 19.75, a price-to-earnings-growth ratio of 3.29 and a beta of 0.96. 3M has a 1-year low of $75.40 and a 1-year high of $155.00. The company has a fifty day simple moving average of $140.32 and a 200 day simple moving average of $134.41. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86.

3M (NYSE:MMMGet Free Report) last released its 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. The business had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The firm’s revenue for the quarter was down 25.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.42 earnings per share. Research analysts anticipate that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The company 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 $0.73 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a yield of 1.96%. This is a boost from 3M’s previous quarterly dividend of $0.70. 3M’s dividend payout ratio (DPR) is currently 38.68%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. UBS Group raised shares of 3M from a “neutral” rating to a “buy” rating and upped their target price for the company from $130.00 to $184.00 in a research note on Wednesday, November 13th. Citigroup upped their target price on shares of 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Royal Bank of Canada reissued an “underperform” rating and set a $96.00 price objective on shares of 3M in a research report on Wednesday, January 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of 3M in a research report on Wednesday. Finally, JPMorgan Chase & Co. increased their price objective on shares of 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, 3M presently has an average rating of “Moderate Buy” and an average target price of $148.87.

Get Our Latest Stock Analysis on 3M

About 3M

(Free Report)

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.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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