Michael A. Dubis Financial Planning LLC Makes New $241,000 Investment in 3M (NYSE:MMM)

Michael A. Dubis Financial Planning LLC acquired a new stake in 3M (NYSE:MMM) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,868 shares of the conglomerate’s stock, valued at approximately $241,000.

Several other institutional investors have also modified their holdings of MMM. Financial Life Planners acquired a new stake in 3M in the fourth quarter valued at $25,000. Proficio Capital Partners LLC purchased a new stake in 3M during the fourth quarter worth approximately $26,000. FSA Wealth Management LLC acquired a new position in 3M in the third quarter valued at approximately $27,000. Daymark Wealth Partners LLC boosted its holdings in 3M by 9.0% in the fourth 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 in the last quarter. Finally, ORG Partners LLC raised its holdings in 3M by 44.1% during the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after purchasing an additional 98 shares in the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.

3M Stock Down 2.5 %

Shares of NYSE MMM opened at $144.74 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The firm has a 50-day moving average price of $149.60 and a 200 day moving average price of $138.17. 3M has a 52 week low of $88.23 and a 52 week high of $156.35. The stock has a market capitalization of $78.58 billion, a price-to-earnings ratio of 19.17, a price-to-earnings-growth ratio of 3.30 and a beta of 0.97.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping the consensus estimate of $1.66 by $0.02. The business had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. The company’s quarterly revenue was down 25.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.42 EPS. Equities research analysts anticipate that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were paid a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 2.02%. This is a boost from 3M’s previous quarterly dividend of $0.70. The ex-dividend date was Friday, February 14th. 3M’s dividend payout ratio is presently 38.68%.

Wall Street Analyst Weigh In

MMM has been the topic of several research analyst reports. Bank of America lifted their price target on shares of 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. raised their price objective 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 reaffirmed a “hold (c+)” rating on shares of 3M in a report on Saturday, March 22nd. Royal Bank of Canada reissued an “underperform” rating and set a $96.00 price target on shares of 3M in a report on Thursday, February 27th. Finally, Citigroup boosted their price target on 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $149.13.

Insider Buying and Selling at 3M

In related news, CAO Theresa E. Reinseth sold 2,309 shares of 3M stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $149.95, for a total transaction of $346,234.55. Following the completion of the sale, the chief accounting officer now owns 4,417 shares in the company, valued at approximately $662,329.15. This trade represents a 34.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Victoria Clarke sold 1,750 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were 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 in the company, valued at approximately $29,918.68. This trade represents a 90.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 113,639 shares of company stock worth $17,163,446. 0.34% of the stock is owned by corporate insiders.

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.