RWA Wealth Partners LLC Has $16.50 Million Stake in 3M (NYSE:MMM)

RWA Wealth Partners LLC lowered its holdings in shares of 3M (NYSE:MMM) by 4.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,840 shares of the conglomerate’s stock after selling 5,838 shares during the quarter. RWA Wealth Partners LLC’s holdings in 3M were worth $16,503,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Financial Life Planners bought a new position in 3M in the fourth quarter valued at approximately $25,000. Proficio Capital Partners LLC bought a new stake in 3M in the 4th quarter valued at $26,000. FSA Wealth Management LLC bought a new position in 3M during the 3rd quarter worth about $27,000. Daymark Wealth Partners LLC raised its stake in shares of 3M by 9.0% in the 4th 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 during the period. Finally, ORG Partners LLC lifted its holdings in shares of 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 in the last quarter. Institutional investors own 65.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MMM shares. Royal Bank of Canada reissued an “underperform” rating and issued a $96.00 target price on shares of 3M in a research report on Thursday, February 27th. Weiss Ratings reissued a “hold (c+)” rating on shares of 3M in a research report on Saturday, March 22nd. Citigroup raised their target price on shares of 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. 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. Finally, Bank of America raised their price objective on 3M from $175.00 to $179.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $149.13.

3M Price Performance

NYSE:MMM opened at $144.74 on Friday. The company has a market cap of $78.58 billion, a P/E ratio of 19.17, a P/E/G ratio of 3.30 and a beta of 0.97. The firm’s fifty day moving average price is $149.60 and its two-hundred day moving average price is $138.23. 3M has a one year low of $88.23 and a one year high of $156.35. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 15.71% and a return on equity of 100.77%. 3M’s quarterly revenue was down 25.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.42 EPS. Equities analysts expect that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

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

Insider Buying and Selling at 3M

In other 3M news, EVP Victoria Clarke sold 1,750 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $154.22, for a total transaction of $269,885.00. Following the transaction, the executive vice president now owns 194 shares in the company, valued at $29,918.68. This represents a 90.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Theresa E. Reinseth sold 2,309 shares of 3M stock in a transaction that occurred on Friday, January 24th. The shares were 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 of the company’s stock, valued at approximately $662,329.15. The trade was a 34.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,639 shares of company stock valued at $17,163,446 in the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

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.