Prairie Wealth Advisors Inc. Has $592,000 Holdings in 3M (NYSE:MMM)

Prairie Wealth Advisors Inc. grew its holdings in 3M (NYSE:MMM) by 14.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,589 shares of the conglomerate’s stock after purchasing an additional 570 shares during the quarter. Prairie Wealth Advisors Inc.’s holdings in 3M were worth $592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Financial Life Planners bought a new position in shares of 3M during the 4th quarter worth about $25,000. FSA Wealth Management LLC bought a new stake in shares of 3M in the 3rd quarter worth $27,000. Daymark Wealth Partners LLC increased its stake in 3M by 8.6% in the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock valued at $30,000 after buying an additional 17,211 shares during the last quarter. McClarren Financial Advisors Inc. increased its position in shares of 3M by 118.6% during the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 121 shares during the last quarter. Finally, ORG Partners LLC increased its position in shares of 3M by 44.1% during the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after purchasing an additional 98 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors.

3M Stock Performance

Shares of MMM stock opened at $152.28 on Friday. The firm has a market capitalization of $82.92 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 3.37 and a beta of 0.96. The stock has a fifty day moving average of $136.38 and a 200 day moving average of $132.07. 3M has a 52 week low of $75.40 and a 52 week high of $155.00. The company has a quick ratio of 1.08, a current ratio of 1.41 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 earnings per share for the quarter, beating 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 analyst estimates of $5.77 billion. During the same quarter in the previous year, the firm posted $2.42 EPS. The company’s revenue for the quarter was down 25.0% compared to the same quarter last year. As a group, research analysts expect that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th will be given a $0.73 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.92 annualized dividend and a dividend yield of 1.92%. This is a positive change from 3M’s previous quarterly dividend of $0.70. 3M’s dividend payout ratio is currently 37.09%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. UBS Group raised shares of 3M from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $130.00 to $184.00 in a report on Wednesday, November 13th. Bank of America raised their price objective on shares of 3M from $160.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a research report on Tuesday, October 22nd. Melius raised shares of 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of 3M in a research report on Saturday, February 1st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, 3M has an average rating of “Moderate Buy” and an average target price of $148.87.

Insider Activity at 3M

In other 3M news, EVP Victoria Clarke sold 1,750 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $154.22, for a total transaction 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. This trade represents a 90.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the company’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $150.25, for a total transaction of $247,161.25. Following the completion of the sale, the insider now directly owns 5,153 shares in the company, valued at $774,238.25. This represents a 24.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,639 shares of company stock worth $17,163,446 over the last ninety days. 0.38% of the stock is owned by corporate 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.