3M (NYSE:MMM) Stock Position Reduced by FSB Premier Wealth Management Inc.

FSB Premier Wealth Management Inc. decreased its position in 3M (NYSE:MMM) by 10.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,829 shares of the conglomerate’s stock after selling 221 shares during the quarter. FSB Premier Wealth Management Inc.’s holdings in 3M were worth $236,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MMM. Financial Life Planners acquired a new position in 3M in the fourth quarter worth $25,000. Proficio Capital Partners LLC bought a new position in shares of 3M in the 4th quarter worth about $26,000. FSA Wealth Management LLC acquired a new position in shares of 3M in the 3rd quarter valued at about $27,000. Hazlett Burt & Watson Inc. bought a new stake in shares of 3M during the 4th quarter valued at about $27,000. Finally, Daymark Wealth Partners LLC raised its stake in 3M by 9.0% during the fourth quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 19,552 shares during the period. 65.25% of the stock is currently owned by institutional investors.

3M Trading Up 1.5 %

Shares of 3M stock opened at $147.03 on Tuesday. The business has a fifty day simple moving average of $149.72 and a 200-day simple moving average of $138.39. The firm has a market cap of $79.82 billion, a price-to-earnings ratio of 19.47, a price-to-earnings-growth ratio of 3.30 and a beta of 0.97. 3M has a fifty-two week low of $88.23 and a fifty-two week high of $156.35. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86.

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

3M Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th were given a $0.73 dividend. This is a positive change from 3M’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.92 annualized dividend and a yield of 1.99%. 3M’s payout ratio is 38.68%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Barclays increased their price objective on shares of 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of 3M in a research note on Saturday, March 22nd. Bank of America raised their price target on shares of 3M from $175.00 to $179.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Finally, Royal Bank of Canada reiterated an “underperform” rating and set a $96.00 price objective on shares of 3M in a research report on Thursday, February 27th. Two research 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $149.13.

Insider Buying and Selling at 3M

In other 3M news, insider Christian T. Goralski, Jr. sold 6,318 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $149.43, for a total transaction of $944,098.74. Following the sale, the insider now owns 5,024 shares in the company, valued at approximately $750,736.32. The trade was a 55.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Victoria Clarke sold 1,750 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $154.22, for a total transaction of $269,885.00. Following the completion of the transaction, the executive vice president now owns 194 shares of the company’s stock, valued at approximately $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. Over the last 90 days, insiders have sold 113,639 shares of company stock valued at $17,163,446. Corporate insiders own 0.34% 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.