Walter & Keenan Wealth Management LLC IN ADV Has $880,000 Stock Holdings in 3M (NYSE:MMM)

Walter & Keenan Wealth Management LLC IN ADV lowered its position in 3M (NYSE:MMM) by 3.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,816 shares of the conglomerate’s stock after selling 235 shares during the quarter. Walter & Keenan Wealth Management LLC IN ADV’s holdings in 3M were worth $880,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in MMM. D.A. Davidson & CO. increased its position in 3M by 16.2% in the 3rd quarter. D.A. Davidson & CO. now owns 146,333 shares of the conglomerate’s stock valued at $20,004,000 after acquiring an additional 20,421 shares during the period. Franklin Resources Inc. increased its holdings in 3M by 26.8% in the third quarter. Franklin Resources Inc. now owns 845,401 shares of the conglomerate’s stock valued at $114,770,000 after purchasing an additional 178,450 shares during the period. Meyer Handelman Co. raised its position in 3M by 1.4% during the 4th quarter. Meyer Handelman Co. now owns 197,618 shares of the conglomerate’s stock worth $25,511,000 after purchasing an additional 2,678 shares during the last quarter. Ballentine Partners LLC lifted its holdings in 3M by 40.1% during the 3rd quarter. Ballentine Partners LLC now owns 18,217 shares of the conglomerate’s stock worth $2,490,000 after buying an additional 5,210 shares during the period. Finally, Stonegate Investment Group LLC grew its position in shares of 3M by 5.6% in the 3rd quarter. Stonegate Investment Group LLC now owns 252,847 shares of the conglomerate’s stock valued at $34,564,000 after buying an additional 13,473 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

3M Price Performance

Shares of NYSE:MMM opened at $149.90 on Monday. 3M has a twelve month low of $75.40 and a twelve month high of $155.00. The stock’s 50 day moving average is $137.11 and its 200-day moving average is $132.72. 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 market capitalization of $81.38 billion, a price-to-earnings ratio of 19.85, a PEG ratio of 3.37 and a beta of 0.96.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. The firm had revenue of $6.01 billion during 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 revenue for the quarter was down 25.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.42 EPS. Sell-side analysts forecast that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors 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 1.95%. This is an increase 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 (DPR) is presently 37.09%.

Insider Buying and Selling

In other news, EVP Victoria Clarke sold 1,750 shares of 3M 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 owns 194 shares in the company, valued at $29,918.68. This trade represents a 90.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $149.43, for a total value of $944,098.74. Following the sale, the insider now directly owns 5,024 shares in the company, valued at $750,736.32. This trade represents a 55.70 % decrease in their position. 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. 0.34% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on MMM shares. Royal Bank of Canada restated an “underperform” rating and set a $96.00 price objective on shares of 3M in a research 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 research report on Tuesday, October 22nd. Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Mizuho lifted their target price on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Bank of America increased their price target on 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, 3M has an average rating of “Moderate Buy” and a consensus price target of $148.87.

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.