Mesirow Financial Investment Management Inc. Sells 399 Shares of 3M (NYSE:MMM)

Mesirow Financial Investment Management Inc. reduced its stake in shares of 3M (NYSE:MMM) by 5.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,189 shares of the conglomerate’s stock after selling 399 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in 3M were worth $928,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Financial Life Planners acquired a new position in 3M in the fourth quarter valued at approximately $25,000. FSA Wealth Management LLC acquired a new position in 3M in the third quarter valued at approximately $27,000. True Wealth Design LLC lifted its holdings in 3M by 2,466.7% in the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock valued at $42,000 after buying an additional 296 shares during the period. ORG Partners LLC raised its holdings in 3M by 44.1% in the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after purchasing an additional 98 shares during the period. Finally, Catalyst Capital Advisors LLC raised its holdings in 3M by 81.5% in the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the conglomerate’s stock worth $47,000 after purchasing an additional 163 shares during the period. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MMM. Citigroup increased their target price on shares of 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Royal Bank of Canada reiterated an “underperform” rating and issued a $96.00 target price on shares of 3M in a report on Thursday, February 27th. Bank of America increased their target price on shares of 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a report on Thursday. Wells Fargo & Company upgraded shares of 3M from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $140.00 to $170.00 in a report on Wednesday, January 22nd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of 3M in a report on Friday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, 3M currently has an average rating of “Moderate Buy” and an average target price of $149.13.

Insider Transactions at 3M

In other news, CAO Theresa E. Reinseth sold 2,309 shares of 3M stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $149.95, for a total transaction of $346,234.55. Following the completion of the transaction, the chief accounting officer now directly owns 4,417 shares in the company, valued at approximately $662,329.15. The trade was a 34.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the business’s stock in a transaction on 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 sale, the insider now owns 5,024 shares of the company’s stock, 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. In the last three months, insiders sold 113,639 shares of company stock worth $17,163,446. 0.34% of the stock is owned by company insiders.

3M Stock Down 0.4 %

3M stock opened at $146.36 on Friday. The company has a fifty day simple moving average of $144.51 and a 200 day simple moving average of $136.23. 3M has a 1-year low of $78.14 and a 1-year high of $156.35. The company has a market cap of $79.46 billion, a P/E ratio of 19.38, a price-to-earnings-growth ratio of 3.30 and a beta of 0.97. 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 issued its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.02. The business had revenue of $6.01 billion during 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%. 3M’s revenue was down 25.0% on a year-over-year basis. During the same period last year, the business posted $2.42 EPS. Research analysts anticipate that 3M will post 7.8 earnings per share for the current fiscal 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 paid a dividend of $0.73 per share. 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 2.00%. The ex-dividend date is Friday, February 14th. 3M’s payout ratio is currently 38.68%.

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.