Burt Wealth Advisors Decreases Holdings in 3M (NYSE:MMM)

Burt Wealth Advisors decreased its holdings in 3M (NYSE:MMM) by 6.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,085 shares of the conglomerate’s stock after selling 145 shares during the period. Burt Wealth Advisors’ holdings in 3M were worth $269,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in MMM. Financial Life Planners purchased a new stake in 3M during the fourth quarter valued at about $25,000. FSA Wealth Management LLC bought a new position in 3M during the 3rd quarter worth approximately $27,000. True Wealth Design LLC increased its stake in 3M by 2,466.7% in the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock worth $42,000 after purchasing an additional 296 shares during the period. ORG Partners LLC lifted its position in 3M by 44.1% in the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after purchasing an additional 98 shares during the last quarter. Finally, Catalyst Capital Advisors LLC boosted its stake in shares of 3M by 81.5% during the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the conglomerate’s stock valued at $47,000 after purchasing an additional 163 shares during the period. Institutional investors own 65.25% of the company’s stock.

3M Price Performance

Shares of MMM opened at $153.19 on Tuesday. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $156.35. The firm’s 50-day simple moving average is $143.22 and its two-hundred day simple moving average is $135.74. The stock has a market cap of $83.17 billion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 3.30 and a beta of 0.96. 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 (NYSE:MMM) last posted its quarterly earnings results 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 company had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. The firm’s quarterly revenue was down 25.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.42 EPS. Analysts anticipate that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors 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 of this dividend is Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a yield of 1.91%. 3M’s payout ratio is presently 38.68%.

Insider Activity at 3M

In related news, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $150.25, for a total value of $247,161.25. Following the transaction, the insider now directly owns 5,153 shares of the company’s stock, valued at approximately $774,238.25. This represents a 24.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $750,736.32. This represents a 55.70 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 113,639 shares of company stock valued at $17,163,446. 0.34% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MMM. Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $140.00 to $170.00 in a research 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 report on Wednesday, January 22nd. Citigroup boosted their price target on 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Barclays increased their price objective on 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Finally, Bank of America boosted their target price on 3M from $160.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, 3M currently has an average rating of “Moderate Buy” and an average target price of $148.87.

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.