3M (NYSE:MMM) Shares Sold by Marietta Investment Partners LLC

Marietta Investment Partners LLC trimmed its position in shares of 3M (NYSE:MMM) by 17.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,210 shares of the conglomerate’s stock after selling 2,000 shares during the period. Marietta Investment Partners LLC’s holdings in 3M were worth $1,189,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MMM. Financial Life Planners acquired a new stake in 3M during the fourth quarter valued at approximately $25,000. Proficio Capital Partners LLC acquired a new position in shares of 3M during the 4th quarter worth $26,000. FSA Wealth Management LLC acquired a new position in 3M in the 3rd quarter valued at $27,000. Daymark Wealth Partners LLC grew its stake in 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 buying an additional 19,552 shares during the last quarter. Finally, ORG Partners LLC grew its stake in 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 buying an additional 98 shares during the last quarter. 65.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other 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 owns 5,024 shares in the company, valued at approximately $750,736.32. The trade was a 55.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Michael F. Roman sold 49,598 shares of the business’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $152.30, for a total value of $7,553,775.40. Following the transaction, the chairman now owns 180,895 shares of the company’s stock, valued at approximately $27,550,308.50. The trade was a 21.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,639 shares of company stock valued at $17,163,446 in the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Citigroup increased their price target on shares of 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. JPMorgan Chase & Co. increased their target price on shares of 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Weiss Ratings restated a “hold (c+)” rating on shares of 3M in a research report on Friday, March 7th. Royal Bank of Canada reiterated an “underperform” rating and set a $96.00 price target on shares of 3M in a research report on Thursday, February 27th. Finally, Barclays lifted their price target on shares of 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $149.13.

3M Stock Performance

Shares of MMM stock opened at $150.35 on Friday. 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 has a fifty-two week low of $85.62 and a fifty-two week high of $156.35. The company has a market capitalization of $81.63 billion, a P/E ratio of 19.91, a PEG ratio of 3.30 and a beta of 0.97. The stock has a 50 day moving average price of $148.35 and a two-hundred day moving average price of $137.47.

3M (NYSE:MMM) last issued its quarterly earnings results 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. 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 last year, the company earned $2.42 earnings per share. The company’s revenue was down 25.0% on a year-over-year basis. Analysts expect that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th were given a dividend of $0.73 per share. This is a boost from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date was Friday, February 14th. 3M’s payout ratio is presently 38.68%.

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.