3M (NYSE:MMM) Shares Sold by Signal Advisors Wealth LLC

Signal Advisors Wealth LLC decreased its holdings in 3M (NYSE:MMM) by 11.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,500 shares of the conglomerate’s stock after selling 1,799 shares during the quarter. Signal Advisors Wealth LLC’s holdings in 3M were worth $1,743,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MMM. FSA Wealth Management LLC bought a new stake in shares of 3M in the 3rd quarter worth approximately $27,000. Daymark Wealth Partners LLC grew its holdings in shares of 3M by 8.6% during the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 17,211 shares in the last quarter. McClarren Financial Advisors Inc. grew its stake in 3M by 118.6% in the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 121 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in 3M by 689.7% in the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock worth $31,000 after buying an additional 269 shares during the last quarter. Finally, ORG Partners LLC raised its holdings in shares of 3M by 44.1% during the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after purchasing an additional 98 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.

3M Stock Performance

Shares of NYSE:MMM opened at $134.54 on Tuesday. 3M has a twelve month low of $75.40 and a twelve month high of $141.34. The firm has a market cap of $73.26 billion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 2.15 and a beta of 0.95. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43. The business has a fifty day moving average of $130.69 and a 200-day moving average of $126.87.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.05. The firm had revenue of $6.29 billion during the quarter, compared to analyst estimates of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. The company’s revenue was down 24.3% on a year-over-year basis. During the same period last year, the company earned $2.68 earnings per share. On average, equities research analysts predict that 3M will post 7.27 EPS for the current fiscal year.

3M Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were given a dividend of $0.70 per share. The ex-dividend date was Friday, November 15th. This represents a $2.80 annualized dividend and a dividend yield of 2.08%. 3M’s payout ratio is currently 35.35%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MMM. Barclays reduced their price objective on shares of 3M from $165.00 to $161.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Bank of America upped their price target on 3M from $143.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Melius raised shares of 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Melius Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. raised their price target on shares of 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, 3M has an average rating of “Moderate Buy” and an average price target of $144.33.

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.