Steward Partners Investment Advisory LLC Has $5.30 Million Stake in 3M (NYSE:MMM)

Steward Partners Investment Advisory LLC grew its stake in shares of 3M (NYSE:MMM) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,020 shares of the conglomerate’s stock after purchasing an additional 452 shares during the period. Steward Partners Investment Advisory LLC’s holdings in 3M were worth $5,295,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. 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 research report on Wednesday, January 22nd. Royal Bank of Canada reissued an “underperform” rating and set a $96.00 target price on shares of 3M in a research report on Thursday, February 27th. UBS Group raised shares of 3M from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $130.00 to $184.00 in a research report on Wednesday, November 13th. Citigroup boosted their target price on shares of 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of 3M in a research report on Wednesday, February 19th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $149.13.

Insider Activity at 3M

In related news, EVP Victoria Clarke sold 1,750 shares of the firm’s stock in a transaction that occurred on 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 directly owns 194 shares of the company’s stock, valued at approximately $29,918.68. This trade represents a 90.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the firm’s 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 completion of the transaction, the insider now directly owns 5,024 shares of the company’s stock, valued at approximately $750,736.32. This trade represents a 55.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 113,639 shares of company stock worth $17,163,446. 0.34% of the stock is owned by corporate insiders.

3M Stock Down 0.4 %

MMM opened at $146.98 on Friday. 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 stock has a market cap of $79.80 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 3.30 and a beta of 0.96. 3M has a twelve month low of $77.01 and a twelve month high of $156.35. The company’s 50-day moving average price is $144.19 and its two-hundred day moving average price is $136.03.

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. The firm had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The company’s quarterly revenue was down 25.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.42 earnings per share. As a group, equities analysts expect that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th will be paid a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 1.99%. This is a boost from 3M’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, February 14th. 3M’s payout ratio is presently 38.68%.

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.