Founders Financial Alliance LLC Has $201,000 Stake in 3M (NYSE:MMM)

Founders Financial Alliance LLC reduced its stake in shares of 3M (NYSE:MMM) by 6.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,556 shares of the conglomerate’s stock after selling 100 shares during the period. Founders Financial Alliance LLC’s holdings in 3M were worth $201,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp grew its holdings in 3M by 1.1% during the third quarter. State Street Corp now owns 27,194,612 shares of the conglomerate’s stock worth $3,717,503,000 after buying an additional 302,900 shares in the last quarter. FMR LLC boosted its holdings in 3M by 88.7% during the 3rd quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock worth $1,225,087,000 after acquiring an additional 4,212,409 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of 3M by 9.2% in the 4th quarter. Bank of New York Mellon Corp now owns 5,689,486 shares of the conglomerate’s stock worth $734,456,000 after acquiring an additional 479,621 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of 3M by 1.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,815,625 shares of the conglomerate’s stock valued at $521,596,000 after purchasing an additional 43,942 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of 3M by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,577,045 shares of the conglomerate’s stock valued at $461,761,000 after purchasing an additional 17,228 shares in the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 3M news, Chairman Michael F. Roman sold 45,276 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $150.01, for a total value of $6,791,852.76. Following the completion of the transaction, the chairman now owns 175,718 shares in the company, valued at approximately $26,359,457.18. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Theresa E. Reinseth sold 2,309 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now owns 4,417 shares in the company, valued at approximately $662,329.15. This trade represents a 34.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,639 shares of company stock valued at $17,163,446 over the last quarter. 0.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MMM has been the subject of a number of recent analyst reports. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $96.00 price objective on shares of 3M in a research report on Thursday, February 27th. Wells Fargo & Company raised 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. Bank of America lifted their price target on 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and upped their price objective for the company from $130.00 to $184.00 in a research note on Wednesday, November 13th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of 3M in a research note on Friday, March 7th. Two analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $149.13.

3M Trading Up 0.1 %

NYSE:MMM opened at $147.74 on Wednesday. 3M has a 1 year low of $81.23 and a 1 year high of $156.35. The stock’s fifty day moving average price is $145.26 and its two-hundred day moving average price is $136.53. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The company has a market cap of $80.21 billion, a P/E ratio of 19.57, a P/E/G ratio of 3.30 and a beta of 0.97.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, topping 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 business had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.77 billion. During the same quarter in the prior year, the firm posted $2.42 EPS. The firm’s quarterly revenue was down 25.0% on a year-over-year basis. As a group, analysts expect that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th will be issued a $0.73 dividend. This is a boost from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Friday, February 14th. 3M’s dividend payout ratio is presently 38.68%.

3M 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.