O Dell Group LLC Cuts Stock Position in 3M (NYSE:MMM)

O Dell Group LLC lowered its stake in 3M (NYSE:MMM) by 7.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,215 shares of the conglomerate’s stock after selling 191 shares during the quarter. O Dell Group LLC’s holdings in 3M were worth $286,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Financial Life Planners purchased a new stake in shares of 3M in the 4th quarter worth approximately $25,000. Proficio Capital Partners LLC purchased a new stake in shares of 3M in the 4th quarter worth approximately $26,000. FSA Wealth Management LLC purchased a new stake in shares of 3M in the 3rd quarter worth approximately $27,000. Daymark Wealth Partners LLC grew its stake in shares of 3M by 9.0% in the 4th quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate’s stock worth $31,000 after buying an additional 19,552 shares during the last quarter. Finally, ORG Partners LLC lifted its position in 3M by 44.1% in the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after acquiring an additional 98 shares in the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Price Performance

NYSE MMM opened at $147.71 on Tuesday. The company has a market capitalization of $80.19 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 3.30 and a beta of 0.97. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The business’s fifty day moving average is $144.89 and its 200 day moving average is $136.41. 3M has a fifty-two week low of $78.14 and a fifty-two week high of $156.35.

3M (NYSE:MMM) last released its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.02. The company had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. 3M’s quarterly revenue was down 25.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.42 earnings per share. Sell-side analysts predict that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.73 per share. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 dividend on an annualized basis and a yield of 1.98%. 3M’s dividend payout ratio (DPR) is currently 38.68%.

Wall Street Analyst Weigh In

MMM has been the topic of several analyst reports. Bank of America upped their price objective on 3M from $175.00 to $179.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Citigroup upped their price objective on 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Barclays upped their price objective on 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Wells Fargo & Company raised 3M from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $140.00 to $170.00 in a report on Wednesday, January 22nd. Finally, Royal Bank of Canada reissued an “underperform” rating and set a $96.00 price target on shares of 3M in a report on Thursday, February 27th. Two investment 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.13.

Insider Buying and Selling at 3M

In other 3M news, Chairman Michael F. Roman sold 49,598 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The stock was 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 of the company’s stock, valued at $27,550,308.50. This trade represents a 21.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Victoria Clarke sold 1,750 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $154.22, for a total value of $269,885.00. Following the sale, the executive vice president now directly owns 194 shares in the company, valued at approximately $29,918.68. This represents a 90.02 % 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 over the last ninety days. 0.34% of the stock is currently owned by company insiders.

About 3M

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.