Guardian Wealth Advisors LLC Sells 405 Shares of 3M (NYSE:MMM)

Guardian Wealth Advisors LLC lowered its position in shares of 3M (NYSE:MMM) by 6.3% in the 4th quarter, HoldingsChannel reports. The firm owned 6,019 shares of the conglomerate’s stock after selling 405 shares during the quarter. 3M makes up about 0.5% of Guardian Wealth Advisors LLC’s holdings, making the stock its 25th biggest holding. Guardian Wealth Advisors LLC’s holdings in 3M were worth $777,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp boosted its stake in 3M by 1.1% in the third quarter. State Street Corp now owns 27,194,612 shares of the conglomerate’s stock worth $3,717,503,000 after buying an additional 302,900 shares in the last quarter. FMR LLC boosted its stake in shares of 3M by 88.7% in the 3rd quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock valued at $1,225,087,000 after purchasing an additional 4,212,409 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of 3M by 1.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,815,625 shares of the conglomerate’s stock valued at $521,596,000 after purchasing an additional 43,942 shares during the last quarter. National Pension Service raised its position in 3M by 14.5% in the 3rd quarter. National Pension Service now owns 1,268,003 shares of the conglomerate’s stock worth $173,336,000 after purchasing an additional 161,036 shares during the period. Finally, International Assets Investment Management LLC lifted its stake in 3M by 11,601.2% in the third quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate’s stock worth $172,416,000 after purchasing an additional 1,250,491 shares during the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada reissued an “underperform” rating and issued a $96.00 target price on shares of 3M in a research note on Wednesday, January 22nd. Bank of America increased their price objective on 3M from $160.00 to $175.00 and gave the company a “buy” 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 lifted their target price for the stock from $140.00 to $170.00 in a research note on Wednesday, January 22nd. UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and upped their price target for the company from $130.00 to $184.00 in a report on Wednesday, November 13th. Finally, 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. Two 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $148.87.

3M Trading Down 0.1 %

NYSE MMM opened at $152.28 on Friday. The stock’s 50 day moving average is $136.38 and its 200 day moving average is $132.07. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The firm has a market capitalization of $82.92 billion, a PE ratio of 20.17, a P/E/G ratio of 3.37 and a beta of 0.96. 3M has a twelve month low of $75.40 and a twelve month high of $155.00.

3M (NYSE:MMM) last released its earnings results 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 firm had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.77 billion. During the same period in the prior year, the firm earned $2.42 EPS. The company’s revenue was down 25.0% compared to the same quarter last year. Research analysts forecast that 3M will post 7.8 earnings per share 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 issued a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 1.92%. This is an increase from 3M’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, February 14th. 3M’s payout ratio is 37.09%.

Insider Activity at 3M

In related news, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of 3M stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $150.25, for a total value of $247,161.25. Following the completion of the sale, the insider now directly owns 5,153 shares in the company, valued at approximately $774,238.25. This trade represents a 24.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $149.43, for a total transaction of $944,098.74. Following the sale, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 113,639 shares of company stock valued at $17,163,446. 0.38% of the stock is owned by insiders.

3M 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.