Michael A. Dubis Financial Planning LLC Buys New Shares in 3M (NYSE:MMM)

Michael A. Dubis Financial Planning LLC purchased a new stake in 3M (NYSE:MMM) in the 4th quarter, Holdings Channel reports. The firm purchased 1,868 shares of the conglomerate’s stock, valued at approximately $241,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MMM. Financial Life Planners acquired a new stake in shares of 3M in the fourth quarter worth approximately $25,000. Proficio Capital Partners LLC acquired a new position in shares of 3M in the 4th quarter valued at $26,000. FSA Wealth Management LLC purchased a new stake in shares of 3M during the 3rd quarter valued at $27,000. Daymark Wealth Partners LLC raised its position 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 period. Finally, ORG Partners LLC boosted its holdings 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 acquiring an additional 98 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Price Performance

Shares of MMM stock opened at $144.74 on Friday. The firm has a market cap of $78.58 billion, a P/E ratio of 19.17, a P/E/G ratio of 3.30 and a beta of 0.97. The firm has a fifty day moving average of $149.60 and a two-hundred day moving average of $138.17. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. 3M has a 1-year low of $88.23 and a 1-year high of $156.35.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS 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 business had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same period last year, the firm earned $2.42 earnings per share. The company’s revenue for the quarter was down 25.0% compared to the same quarter last year. As a group, research analysts anticipate 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 was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were paid a dividend of $0.73 per share. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a yield of 2.02%. 3M’s dividend payout ratio (DPR) is 38.68%.

Wall Street Analyst Weigh In

MMM has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their target price 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. Royal Bank of Canada reissued an “underperform” rating and issued a $96.00 price objective on shares of 3M in a research report on Thursday, February 27th. Citigroup boosted 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. Barclays raised their target price on 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of 3M in a report on Saturday, March 22nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, 3M has an average rating of “Moderate Buy” and a consensus price target of $149.13.

Insiders Place Their Bets

In other 3M news, EVP Victoria Clarke sold 1,750 shares of the stock in a transaction on Friday, January 31st. The stock was 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 of the company’s stock, valued at $29,918.68. This trade represents a 90.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the business’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $149.43, for a total transaction of $944,098.74. Following the transaction, the insider now directly owns 5,024 shares of the company’s stock, valued at approximately $750,736.32. This trade represents a 55.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,639 shares of company stock valued at $17,163,446 over the last 90 days. 0.34% of the stock is 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.