MONECO Advisors LLC Sells 137 Shares of 3M (NYSE:MMM)

MONECO Advisors LLC trimmed its position in 3M (NYSE:MMM) by 5.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,583 shares of the conglomerate’s stock after selling 137 shares during the quarter. MONECO Advisors LLC’s holdings in 3M were worth $333,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Investors Asset Management of Georgia Inc. GA ADV raised its holdings in 3M by 1.3% in the 4th quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,377 shares of the conglomerate’s stock valued at $694,000 after acquiring an additional 67 shares during the period. Gilbert & Cook Inc. raised its holdings in 3M by 1.5% in the 4th quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate’s stock valued at $659,000 after acquiring an additional 73 shares during the period. Childress Capital Advisors LLC raised its holdings in 3M by 5.1% in the 4th quarter. Childress Capital Advisors LLC now owns 1,573 shares of the conglomerate’s stock valued at $203,000 after acquiring an additional 76 shares during the period. Wynn Capital LLC raised its holdings in 3M by 0.7% in the 4th quarter. Wynn Capital LLC now owns 11,690 shares of the conglomerate’s stock valued at $1,509,000 after acquiring an additional 80 shares during the period. Finally, Harbour Investments Inc. raised its holdings in 3M by 0.8% in the 3rd quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate’s stock valued at $1,443,000 after acquiring an additional 81 shares during the period. 65.25% of the stock is owned by institutional investors.

3M Stock Performance

Shares of NYSE:MMM opened at $145.42 on Tuesday. The company’s 50 day simple moving average is $140.94 and its 200 day simple moving average is $134.85. The stock has a market capitalization of $78.95 billion, a price-to-earnings ratio of 19.26, a price-to-earnings-growth ratio of 3.30 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 1 year low of $75.40 and a 1 year high of $155.00.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. The business had revenue of $6.01 billion for the quarter, compared to analysts’ expectations 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, research analysts predict that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Friday, February 14th. This is a boost from 3M’s previous quarterly dividend of $0.70. 3M’s payout ratio is presently 38.68%.

Insiders Place Their Bets

In other 3M news, EVP Victoria Clarke sold 1,750 shares of the business’s stock in a transaction 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 sale, 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Michael F. Roman sold 49,598 shares of the business’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $152.30, for a total transaction of $7,553,775.40. Following the sale, the chairman now directly owns 180,895 shares in the company, valued at approximately $27,550,308.50. The trade was a 21.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,639 shares of company stock valued at $17,163,446. 0.34% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Barclays increased their price target on shares of 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Bank of America increased their price target on shares of 3M from $160.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. JPMorgan Chase & Co. raised their target price on shares of 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of 3M in a report on Wednesday, February 19th. Finally, Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $140.00 to $170.00 in a report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $148.87.

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.