Beacon Financial Advisory LLC Sells 341 Shares of 3M (NYSE:MMM)

Beacon Financial Advisory LLC lowered its position in shares of 3M (NYSE:MMM) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,340 shares of the conglomerate’s stock after selling 341 shares during the quarter. Beacon Financial Advisory LLC’s holdings in 3M were worth $947,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Robertson Stephens Wealth Management LLC boosted its position in shares of 3M by 2.3% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 5,567 shares of the conglomerate’s stock worth $719,000 after buying an additional 124 shares during the period. Inman Jager Wealth Management LLC bought a new position in shares of 3M during the 4th quarter worth approximately $1,338,000. Choreo LLC lifted its position in shares of 3M by 0.7% in the fourth quarter. Choreo LLC now owns 70,444 shares of the conglomerate’s stock worth $9,094,000 after purchasing an additional 513 shares in the last quarter. Massachusetts Wealth Management boosted its holdings in 3M by 1.9% during the fourth quarter. Massachusetts Wealth Management now owns 14,974 shares of the conglomerate’s stock worth $1,933,000 after purchasing an additional 275 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in 3M by 38.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 118,288 shares of the conglomerate’s stock valued at $15,330,000 after purchasing an additional 32,709 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Melius raised 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. boosted 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. Royal Bank of Canada reiterated an “underperform” rating and issued a $96.00 price target on shares of 3M in a research note on Wednesday, January 22nd. Finally, Mizuho upped their target price on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. 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 stock. According to MarketBeat, 3M has a consensus rating of “Moderate Buy” and an average target price of $148.87.

Insider Activity

In other news, CAO Theresa E. Reinseth sold 2,309 shares of the business’s 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 sale, the chief accounting officer now directly owns 4,417 shares in the company, valued at approximately $662,329.15. The trade was a 34.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction of $944,098.74. Following the sale, the insider now owns 5,024 shares in the company, valued at approximately $750,736.32. This represents a 55.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,639 shares of company stock worth $17,163,446. Insiders own 0.38% of the company’s stock.

3M Stock Up 0.5 %

NYSE MMM opened at $152.43 on Thursday. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. The company has a market cap of $83.01 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 3.37 and a beta of 0.96. The company has a 50 day moving average of $135.98 and a 200-day moving average of $131.93. 3M has a 1-year low of $75.40 and a 1-year high of $155.00.

3M (NYSE:MMM) last released its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates 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 in the prior year, the company posted $2.42 EPS. The company’s revenue was down 25.0% compared to the same quarter last year. On average, equities research analysts expect 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 given a dividend of $0.73 per share. This is a positive change 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 annualized dividend and a dividend yield of 1.92%. 3M’s dividend payout ratio (DPR) is currently 37.09%.

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.