TFC Financial Management Inc. Buys 82 Shares of 3M (NYSE:MMM)

TFC Financial Management Inc. raised its stake in 3M (NYSE:MMM) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,410 shares of the conglomerate’s stock after purchasing an additional 82 shares during the period. TFC Financial Management Inc.’s holdings in 3M were worth $957,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Financial Life Planners acquired a new position in shares of 3M during the fourth quarter valued at about $25,000. FSA Wealth Management LLC acquired a new position in shares of 3M during the third quarter valued at about $27,000. McClarren Financial Advisors Inc. grew its holdings 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 buying an additional 121 shares during the last quarter. True Wealth Design LLC grew its holdings in shares of 3M by 2,466.7% during the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock valued at $42,000 after buying an additional 296 shares during the last quarter. Finally, ORG Partners LLC grew its holdings in shares of 3M by 44.1% during the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after buying an additional 98 shares during the last quarter. 65.25% of the stock is owned by institutional investors.

3M Stock Performance

3M stock opened at $148.86 on Thursday. The firm’s 50 day simple moving average is $137.82 and its 200 day simple moving average is $133.41. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. The firm has a market capitalization of $80.82 billion, a PE ratio of 19.72, a price-to-earnings-growth ratio of 3.37 and a beta of 0.96. 3M has a 1-year low of $75.40 and a 1-year high of $155.00.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS 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 business had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.77 billion. During the same quarter in the previous year, the company earned $2.42 EPS. The business’s quarterly revenue was down 25.0% compared to the same quarter last year. As a group, analysts expect that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th will be paid a $0.73 dividend. This is a boost from 3M’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.96%. 3M’s dividend payout ratio is 37.09%.

Analyst Ratings Changes

Several research firms recently weighed in on MMM. Citigroup boosted their price target on shares of 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Wells Fargo & Company upgraded shares of 3M from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $140.00 to $170.00 in a report on Wednesday, January 22nd. JPMorgan Chase & Co. boosted their price target on shares of 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a report on Tuesday, October 22nd. Finally, UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $130.00 to $184.00 in a report on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $148.87.

Insider Activity

In related news, EVP Victoria Clarke sold 1,750 shares of the stock in a transaction dated 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 directly owns 194 shares in the company, valued at $29,918.68. This trade represents a 90.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the 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 transaction, the insider now owns 5,153 shares of the company’s stock, valued at approximately $774,238.25. The trade was a 24.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,639 shares of company stock valued at $17,163,446. Corporate 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.