Global Retirement Partners LLC Purchases 2,395 Shares of 3M (NYSE:MMM)

Global Retirement Partners LLC boosted its position in 3M (NYSE:MMM) by 18.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,149 shares of the conglomerate’s stock after buying an additional 2,395 shares during the quarter. Global Retirement Partners LLC’s holdings in 3M were worth $1,956,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. SilverOak Wealth Management LLC increased its stake in shares of 3M by 4.5% in the fourth quarter. SilverOak Wealth Management LLC now owns 86,692 shares of the conglomerate’s stock worth $11,191,000 after purchasing an additional 3,711 shares during the period. Kentucky Retirement Systems Insurance Trust Fund increased its position in 3M by 39.3% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 22,650 shares of the conglomerate’s stock worth $3,177,000 after buying an additional 6,385 shares during the period. Cardinal Capital Management increased its position in 3M by 0.9% in the 4th quarter. Cardinal Capital Management now owns 50,094 shares of the conglomerate’s stock worth $6,467,000 after buying an additional 425 shares during the period. BKM Wealth Management LLC lifted its holdings in shares of 3M by 22.5% during the fourth quarter. BKM Wealth Management LLC now owns 2,598 shares of the conglomerate’s stock worth $335,000 after buying an additional 478 shares during the last quarter. Finally, Braun Stacey Associates Inc. boosted its position in shares of 3M by 18.4% in the fourth quarter. Braun Stacey Associates Inc. now owns 142,596 shares of the conglomerate’s stock valued at $18,408,000 after acquiring an additional 22,203 shares during the period. Institutional investors own 65.25% of the company’s stock.

Insider Transactions at 3M

In other news, EVP Victoria Clarke sold 1,750 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $154.22, for a total transaction of $269,885.00. Following the transaction, the executive vice president now directly owns 194 shares in the company, valued at approximately $29,918.68. This represents a 90.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $149.43, for a total transaction of $944,098.74. Following the transaction, the insider now 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 113,639 shares of company stock worth $17,163,446. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on MMM shares. Wells Fargo & Company upgraded shares of 3M from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Bank of America boosted 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. Barclays boosted their price objective on shares of 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. JPMorgan Chase & Co. boosted their price objective on shares of 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Finally, Royal Bank of Canada restated an “underperform” rating and set a $96.00 price objective on shares of 3M in a report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, 3M has a consensus rating of “Moderate Buy” and a consensus price target of $148.87.

3M Stock Performance

NYSE MMM opened at $149.08 on Friday. The stock has a market cap of $80.93 billion, a P/E ratio of 19.75, a PEG ratio of 3.29 and a beta of 0.96. The company’s 50-day simple moving average is $140.32 and its 200 day simple moving average is $134.41. 3M has a twelve month low of $75.40 and a twelve month 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 issued its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.02. The firm had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The company’s quarterly revenue was down 25.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.42 earnings per share. As a group, 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. Stockholders of record on Friday, February 14th will be given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.96%. This is a positive change from 3M’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, February 14th. 3M’s dividend payout ratio is presently 38.68%.

About 3M

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.