Parkside Financial Bank & Trust Has $665,000 Stock Holdings in 3M (NYSE:MMM)

Parkside Financial Bank & Trust lifted its holdings in shares of 3M (NYSE:MMM) by 1.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,153 shares of the conglomerate’s stock after buying an additional 70 shares during the period. Parkside Financial Bank & Trust’s holdings in 3M were worth $665,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Shoker Investment Counsel Inc. boosted its stake in shares of 3M by 0.5% during the 4th quarter. Shoker Investment Counsel Inc. now owns 19,038 shares of the conglomerate’s stock worth $2,458,000 after buying an additional 103 shares during the last quarter. Verus Capital Partners LLC lifted its stake in 3M by 2.3% in the 4th quarter. Verus Capital Partners LLC now owns 5,922 shares of the conglomerate’s stock valued at $765,000 after purchasing an additional 132 shares during the last quarter. QRG Capital Management Inc. lifted its stake in 3M by 132.9% in the 4th quarter. QRG Capital Management Inc. now owns 33,356 shares of the conglomerate’s stock valued at $4,306,000 after purchasing an additional 19,037 shares during the last quarter. Otter Creek Advisors LLC lifted its stake in 3M by 2.3% in the 4th quarter. Otter Creek Advisors LLC now owns 36,878 shares of the conglomerate’s stock valued at $4,761,000 after purchasing an additional 840 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in 3M in the 4th quarter valued at about $26,000. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MMM shares. Barclays raised their target price on shares of 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Wells Fargo & Company upgraded shares of 3M from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Bank of America raised their target price on shares of 3M from $160.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Citigroup raised 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. Finally, Royal Bank of Canada reiterated an “underperform” rating and issued a $96.00 target price on shares of 3M in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $148.87.

3M Stock Up 3.1 %

Shares of MMM opened at $155.25 on Friday. 3M has a 12 month low of $75.40 and a 12 month high of $155.50. The firm’s 50 day moving average is $142.73 and its 200-day moving average is $135.42. The stock has a market capitalization of $84.29 billion, a PE ratio of 20.56, a P/E/G ratio of 3.30 and a beta of 0.96. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86.

3M (NYSE:MMM) last announced its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $5.77 billion. During the same period last year, the firm earned $2.42 earnings per share. The business’s revenue for the quarter was down 25.0% on a year-over-year basis. Equities research analysts forecast that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.73 per share. The ex-dividend date is Friday, February 14th. This is a boost from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a dividend yield of 1.88%. 3M’s dividend payout ratio (DPR) is currently 38.68%.

Insider Transactions at 3M

In related news, CAO Theresa E. Reinseth sold 2,309 shares of 3M stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $149.95, for a total value of $346,234.55. Following the transaction, the chief accounting officer now directly owns 4,417 shares of the company’s stock, valued at $662,329.15. This trade represents a 34.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of 3M stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $149.43, for a total transaction of $944,098.74. Following the completion of the transaction, the insider now directly owns 5,024 shares in the company, valued at $750,736.32. This trade represents a 55.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,639 shares of company stock valued at $17,163,446. 0.34% of the stock is currently owned by company insiders.

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.