3M (NYSE:MMM) Shares Sold by Leo Wealth LLC

Leo Wealth LLC trimmed its position in 3M (NYSE:MMM) by 7.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,855 shares of the conglomerate’s stock after selling 232 shares during the period. Leo Wealth LLC’s holdings in 3M were worth $369,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MMM. Financial Life Planners purchased a new stake in shares of 3M during the fourth quarter worth approximately $25,000. FSA Wealth Management LLC acquired a new stake in 3M during the 3rd quarter worth $27,000. Daymark Wealth Partners LLC grew its holdings in shares of 3M by 8.6% during the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock worth $30,000 after buying an additional 17,211 shares in the last quarter. McClarren Financial Advisors Inc. raised its position in shares of 3M by 118.6% in the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after buying an additional 121 shares during the last quarter. Finally, ORG Partners LLC lifted its stake in shares of 3M by 44.1% in the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after buying an additional 98 shares in the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

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 dated Friday, January 24th. The stock was sold at an average price of $149.43, for a total value of $944,098.74. Following the sale, the insider now owns 5,024 shares of the company’s stock, valued at $750,736.32. This trade represents a 55.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kevin H. Rhodes sold 6,743 shares of 3M stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $149.85, for a total value of $1,010,438.55. Following the completion of the transaction, the executive vice president now owns 4,902 shares of the company’s stock, valued at $734,564.70. The trade was a 57.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,639 shares of company stock valued at $17,163,446 in the last 90 days. Company insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on MMM shares. Barclays increased their price objective on shares of 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a 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. JPMorgan Chase & Co. upped their target price on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of 3M in a report on Saturday, February 1st. Finally, Mizuho upped their price objective on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, 3M has a consensus rating of “Moderate Buy” and a consensus price target of $148.87.

3M Stock Down 1.6 %

NYSE:MMM opened at $149.90 on Friday. 3M has a 52 week low of $75.40 and a 52 week high of $155.00. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The stock’s fifty day moving average is $136.78 and its two-hundred day moving average is $132.21. The stock has a market capitalization of $81.63 billion, a price-to-earnings ratio of 19.85, a price-to-earnings-growth ratio of 3.37 and a beta of 0.96.

3M (NYSE:MMM) last announced its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. The company 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% on a year-over-year basis. During the same period last year, the business posted $2.42 EPS. Research analysts anticipate that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 14th will be paid a dividend of $0.73 per share. This is an increase from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Friday, February 14th. 3M’s dividend payout ratio 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.