3M (NYSE:MMM) Shares Purchased by Savant Capital LLC

Savant Capital LLC boosted its position in 3M (NYSE:MMM) by 4.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 74,518 shares of the conglomerate’s stock after acquiring an additional 2,907 shares during the quarter. Savant Capital LLC’s holdings in 3M were worth $9,620,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Angeles Wealth Management LLC boosted its holdings in 3M by 47.8% in the fourth quarter. Angeles Wealth Management LLC now owns 2,780 shares of the conglomerate’s stock valued at $359,000 after acquiring an additional 899 shares during the last quarter. Robinson Value Management Ltd. boosted its holdings in 3M by 1.0% in the fourth quarter. Robinson Value Management Ltd. now owns 21,499 shares of the conglomerate’s stock valued at $2,775,000 after acquiring an additional 210 shares during the last quarter. Quotient Wealth Partners LLC boosted its holdings in 3M by 7.5% in the fourth quarter. Quotient Wealth Partners LLC now owns 3,737 shares of the conglomerate’s stock valued at $482,000 after acquiring an additional 262 shares during the last quarter. Richard C. Young & CO. LTD. acquired a new position in 3M in the fourth quarter valued at $426,000. Finally, Empowered Funds LLC boosted its holdings in 3M by 4.9% in the fourth quarter. Empowered Funds LLC now owns 55,389 shares of the conglomerate’s stock valued at $7,150,000 after acquiring an additional 2,599 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Stock Down 0.2 %

Shares of 3M stock opened at $149.59 on Tuesday. 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 cap of $81.21 billion, a P/E ratio of 19.81, a P/E/G ratio of 3.37 and a beta of 0.96. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $155.00. The business has a 50-day moving average price of $137.11 and a 200 day moving average price of $132.92.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.02. The firm had revenue of $6.01 billion during 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%. 3M’s quarterly revenue was down 25.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.42 earnings per share. On average, sell-side analysts forecast that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 14th will be issued a $0.73 dividend. This is a positive change from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a yield of 1.95%. The ex-dividend date is Friday, February 14th. 3M’s payout ratio is currently 37.09%.

Wall Street Analyst Weigh In

MMM has been the topic of several research reports. Bank of America raised their price objective on 3M from $160.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Melius Research raised 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a research report on Tuesday, October 22nd. Royal Bank of Canada reissued an “underperform” rating and issued a $96.00 price objective on shares of 3M in a research report on Wednesday, January 22nd. Mizuho raised their price objective on 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. raised their price objective on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $148.87.

Insider Buying and Selling at 3M

In other 3M news, insider Christian T. Goralski, Jr. sold 6,318 shares of 3M stock in a transaction that occurred on Friday, January 24th. The stock was 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 $750,736.32. The trade was a 55.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Victoria Clarke sold 1,750 shares of 3M stock in a transaction that occurred on Friday, January 31st. The shares were 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 of the company’s stock, valued at approximately $29,918.68. The trade was a 90.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,639 shares of company stock worth $17,163,446 over the last ninety days. Company insiders own 0.34% of the company’s stock.

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.