MBA Advisors LLC Sells 727 Shares of 3M (NYSE:MMM)

MBA Advisors LLC decreased its holdings in 3M (NYSE:MMM) by 21.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,603 shares of the conglomerate’s stock after selling 727 shares during the quarter. MBA Advisors LLC’s holdings in 3M were worth $336,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Financial Life Planners bought a new position in shares of 3M during the fourth quarter valued at approximately $25,000. FSA Wealth Management LLC purchased a new position in 3M during the 3rd quarter valued at $27,000. McClarren Financial Advisors Inc. grew its position in 3M by 118.6% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 121 shares during the last quarter. True Wealth Design LLC lifted its position in shares of 3M by 2,466.7% during the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock worth $42,000 after purchasing an additional 296 shares during the last quarter. Finally, ORG Partners LLC boosted its stake in shares of 3M by 44.1% during 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 during the period. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Citigroup lifted their price target 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. Barclays increased their price objective on 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Melius upgraded 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, January 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. According to data from MarketBeat, 3M currently has an average rating of “Moderate Buy” and a consensus price target of $148.87.

3M Stock Performance

Shares of MMM opened at $149.90 on Monday. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. The firm has a market cap of $81.38 billion, a PE ratio of 19.85, a P/E/G ratio of 3.37 and a beta of 0.96. 3M has a 12 month low of $75.40 and a 12 month high of $155.00. The stock has a fifty day moving average price of $137.11 and a 200-day moving average price of $132.72.

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. The business had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. The company’s revenue was down 25.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.42 earnings per share. Equities research analysts predict that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The business 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 $0.73 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.95%. This is a boost from 3M’s previous quarterly dividend of $0.70. 3M’s dividend payout ratio (DPR) is currently 37.09%.

Insider Transactions at 3M

In other 3M news, Chairman Michael F. Roman sold 49,598 shares of the company’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $152.30, for a total transaction of $7,553,775.40. Following the completion of the transaction, the chairman now directly owns 180,895 shares in the company, valued at approximately $27,550,308.50. This represents a 21.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Theresa E. Reinseth sold 2,309 shares of 3M stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $149.95, for a total transaction of $346,234.55. Following the completion of the sale, the chief accounting officer now owns 4,417 shares in the company, valued at approximately $662,329.15. This trade represents a 34.33 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,639 shares of company stock worth $17,163,446. Company insiders own 0.34% of the company’s stock.

3M 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.