3M (NYSE:MMM) Stock Position Increased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC boosted its position in 3M (NYSE:MMM) by 57.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 46,848 shares of the conglomerate’s stock after purchasing an additional 17,045 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in 3M were worth $6,048,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MMM. Financial Life Planners bought a new stake in 3M in the 4th quarter valued at about $25,000. FSA Wealth Management LLC bought a new stake in shares of 3M during the 3rd quarter worth about $27,000. Daymark Wealth Partners LLC raised its position in shares of 3M by 9.0% during 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 in the last quarter. ORG Partners LLC raised its position in shares of 3M by 44.1% during the 4th 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. Finally, True Wealth Design LLC raised its position in shares of 3M by 2,466.7% during the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock worth $42,000 after buying an additional 296 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors.

3M Stock Performance

3M stock opened at $150.11 on Thursday. The firm’s 50 day simple moving average is $139.94 and its 200-day simple moving average is $134.31. The company has a market cap of $81.49 billion, a P/E ratio of 19.88, a price-to-earnings-growth ratio of 3.29 and a beta of 0.96. 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 fifty-two week low of $75.40 and a fifty-two week high of $155.00.

3M (NYSE:MMM) last released its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.02. The business had revenue of $6.01 billion for 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 quarterly revenue was down 25.0% compared to the same quarter last year. During the same period last year, the firm posted $2.42 earnings per share. As a group, equities research analysts predict that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th will be given a $0.73 dividend. This is an increase from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Friday, February 14th. 3M’s dividend payout ratio (DPR) is 38.68%.

Analyst Ratings Changes

A number of analysts have commented on MMM shares. Royal Bank of Canada restated an “underperform” rating and set a $96.00 price target on shares of 3M in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. boosted their price target 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. Wells Fargo & Company upgraded shares of 3M from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Citigroup boosted their price target on shares of 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Finally, Barclays lifted their price objective on shares of 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. 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 stock. According to MarketBeat, 3M has an average rating of “Moderate Buy” and an average price target of $148.87.

Insider Transactions at 3M

In related news, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $150.25, for a total transaction of $247,161.25. Following the transaction, the insider now directly owns 5,153 shares of the company’s stock, valued at approximately $774,238.25. The trade was a 24.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Victoria Clarke sold 1,750 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $154.22, for a total transaction of $269,885.00. Following the transaction, the executive vice president now directly owns 194 shares in the company, valued at $29,918.68. The trade was 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. Corporate insiders own 0.38% of the company’s stock.

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.