Schwarz Dygos Wheeler Investment Advisors LLC Sells 1,975 Shares of 3M (NYSE:MMM)

Schwarz Dygos Wheeler Investment Advisors LLC decreased its stake in shares of 3M (NYSE:MMM) by 50.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,962 shares of the conglomerate’s stock after selling 1,975 shares during the period. Schwarz Dygos Wheeler Investment Advisors LLC’s holdings in 3M were worth $253,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of MMM. Financial Life Planners purchased a new position in 3M during the 4th quarter worth $25,000. FSA Wealth Management LLC purchased a new position in 3M during the third quarter worth about $27,000. True Wealth Design LLC grew its position in 3M by 2,466.7% in the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock worth $42,000 after purchasing an additional 296 shares in the last quarter. ORG Partners LLC grew its position in 3M by 44.1% in the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after purchasing an additional 98 shares in the last quarter. Finally, Catalyst Capital Advisors LLC increased its stake in 3M by 81.5% in the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the conglomerate’s stock valued at $47,000 after buying an additional 163 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

Insider Activity

In related news, insider Christian T. Goralski, Jr. sold 6,318 shares of 3M stock in a transaction on Friday, January 24th. The stock was sold at an average price of $149.43, for a total transaction of $944,098.74. Following the completion of the sale, the insider now owns 5,024 shares of the company’s stock, valued at approximately $750,736.32. This trade represents a 55.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Victoria Clarke sold 1,750 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $154.22, for a total value of $269,885.00. Following the completion of the transaction, the executive vice president now owns 194 shares in the company, 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 company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on MMM shares. Citigroup upped their target price on 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. UBS Group raised 3M from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $130.00 to $184.00 in a research report on Wednesday, November 13th. Wells Fargo & Company raised 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 report on Wednesday, January 22nd. Royal Bank of Canada reissued an “underperform” rating and issued a $96.00 price target on shares of 3M in a report on Thursday, February 27th. Finally, Barclays raised 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. 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. Based on data from MarketBeat, 3M currently has a consensus rating of “Moderate Buy” and an average target price of $149.13.

3M Trading Down 0.4 %

Shares of MMM stock opened at $146.36 on Monday. The stock has a market capitalization of $79.46 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 3.30 and a beta of 0.97. The company’s fifty day simple moving average is $144.51 and its two-hundred day simple moving average is $136.28. 3M has a 1 year low of $78.14 and a 1 year high of $156.35. 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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. The company had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. The firm’s revenue for the quarter was down 25.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.42 EPS. As a group, analysts anticipate that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th will be issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 2.00%. This is an increase from 3M’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, February 14th. 3M’s dividend payout ratio is presently 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.