3M (NYSE:MMM) Shares Acquired by Angeles Wealth Management LLC

Angeles Wealth Management LLC increased its stake in shares of 3M (NYSE:MMM) by 47.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,780 shares of the conglomerate’s stock after purchasing an additional 899 shares during the quarter. Angeles Wealth Management LLC’s holdings in 3M were worth $359,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of MMM. Financial Life Planners acquired a new position in shares of 3M during the fourth quarter worth about $25,000. FSA Wealth Management LLC purchased a new position in 3M in the third quarter worth approximately $27,000. McClarren Financial Advisors Inc. lifted its stake in 3M by 118.6% in the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 121 shares during the last quarter. Daymark Wealth Partners LLC increased its position in shares of 3M by 9.0% in the 4th quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 19,552 shares during the last quarter. Finally, ORG Partners LLC raised its holdings in shares of 3M by 44.1% in 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 in the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Trading Down 0.2 %

NYSE MMM opened at $149.59 on Tuesday. 3M has a one year low of $75.40 and a one year high of $155.00. The firm has a market cap of $81.21 billion, a PE ratio of 19.81, a P/E/G ratio of 3.37 and a beta of 0.96. The firm’s fifty day moving average is $137.11 and its two-hundred day moving average is $132.92. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, beating the consensus estimate of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The firm had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same period in the prior year, the business earned $2.42 EPS. The firm’s revenue was down 25.0% compared to the same quarter last year. Analysts expect that 3M will post 7.8 earnings per share for the current 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 given a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 1.95%. This is a positive change from 3M’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, February 14th. 3M’s dividend payout ratio (DPR) is 37.09%.

Insider Buying and Selling at 3M

In related news, Chairman Michael F. Roman sold 45,276 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $150.01, for a total value of $6,791,852.76. Following the completion of the sale, the chairman now owns 175,718 shares in the company, valued at $26,359,457.18. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Theresa E. Reinseth sold 2,309 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $149.95, for a total value of $346,234.55. Following the transaction, the chief accounting officer now owns 4,417 shares in the company, valued at $662,329.15. The trade was a 34.33 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,639 shares of company stock valued at $17,163,446. 0.34% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Wells Fargo & Company upgraded shares of 3M from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of 3M in a research report on Saturday, February 1st. Citigroup raised their target price on 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Melius raised 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Finally, Bank of America raised their price objective on shares of 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a 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 company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.87.

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.