Advisor OS LLC Sells 167 Shares of 3M (NYSE:MMM)

Advisor OS LLC lessened its holdings in 3M (NYSE:MMM) by 6.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,396 shares of the conglomerate’s stock after selling 167 shares during the period. Advisor OS LLC’s holdings in 3M were worth $309,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. DMKC Advisory Services LLC bought a new position in 3M during the fourth quarter valued at $3,594,000. Bank of New York Mellon Corp increased its position in 3M by 9.2% during the fourth quarter. Bank of New York Mellon Corp now owns 5,689,486 shares of the conglomerate’s stock valued at $734,456,000 after acquiring an additional 479,621 shares during the last quarter. Pine Valley Investments Ltd Liability Co increased its position in 3M by 1.9% during the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 102,635 shares of the conglomerate’s stock valued at $13,249,000 after acquiring an additional 1,961 shares during the last quarter. IFP Advisors Inc increased its position in 3M by 220.7% during the fourth quarter. IFP Advisors Inc now owns 9,331 shares of the conglomerate’s stock valued at $1,205,000 after acquiring an additional 6,421 shares during the last quarter. Finally, Capital Advisors Ltd. LLC increased its position in 3M by 5.3% during the fourth quarter. Capital Advisors Ltd. LLC now owns 1,519 shares of the conglomerate’s stock valued at $196,000 after acquiring an additional 77 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

Insiders Place Their Bets

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 shares were sold at an average price of $149.43, for a total value of $944,098.74. Following the completion of the transaction, the insider now directly owns 5,024 shares in the company, valued at approximately $750,736.32. The trade was a 55.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Victoria Clarke sold 1,750 shares of the business’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 $29,918.68. This represents a 90.02 % decrease in their ownership of the stock. 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. 0.34% of the stock is owned by corporate insiders.

3M Stock Up 2.1 %

NYSE:MMM opened at $150.48 on Friday. 3M has a 1-year low of $75.40 and a 1-year high of $155.00. The company has a 50-day moving average of $142.21 and a 200 day moving average of $135.20. The firm has a market cap of $81.70 billion, a PE ratio of 19.93, 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 (NYSE:MMM) last released its quarterly earnings data 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. 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 analyst estimates of $5.77 billion. During the same period in the prior year, the firm earned $2.42 earnings per share. The firm’s revenue for the quarter was down 25.0% compared to the same quarter last year. As a group, research analysts anticipate that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The company also recently announced 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 of this dividend is Friday, February 14th. This is an increase from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 dividend on an annualized basis and a yield of 1.94%. 3M’s payout ratio is currently 38.68%.

Analyst Ratings Changes

MMM has been the topic of a number of analyst reports. Barclays boosted their price objective on shares of 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Bank of America boosted their price objective on shares of 3M from $160.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. boosted their target price on shares of 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Finally, Citigroup boosted their target price 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. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, 3M currently has a consensus rating of “Moderate Buy” and a consensus price target 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.