Signaturefd LLC Sells 347 Shares of 3M (NYSE:MMM)

Signaturefd LLC lessened its holdings in shares of 3M (NYSE:MMM) by 4.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,164 shares of the conglomerate’s stock after selling 347 shares during the quarter. Signaturefd LLC’s holdings in 3M were worth $1,054,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Cibc World Markets Corp raised its stake in 3M by 3.7% during the 4th quarter. Cibc World Markets Corp now owns 227,529 shares of the conglomerate’s stock valued at $29,372,000 after purchasing an additional 8,152 shares during the period. Arbor Capital Management Inc. ADV raised its stake in 3M by 1.1% during the 4th quarter. Arbor Capital Management Inc. ADV now owns 17,725 shares of the conglomerate’s stock valued at $2,288,000 after purchasing an additional 187 shares during the period. Glenview Trust co raised its stake in 3M by 2.3% during the 4th quarter. Glenview Trust co now owns 35,175 shares of the conglomerate’s stock valued at $4,541,000 after purchasing an additional 790 shares during the period. Choate Investment Advisors grew its holdings in 3M by 14.7% during the 4th quarter. Choate Investment Advisors now owns 20,902 shares of the conglomerate’s stock valued at $2,698,000 after buying an additional 2,672 shares in the last quarter. Finally, Van Strum & Towne Inc. grew its holdings in 3M by 30.9% during the 4th quarter. Van Strum & Towne Inc. now owns 2,120 shares of the conglomerate’s stock valued at $274,000 after buying an additional 500 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.

Insiders Place Their Bets

In other 3M news, CAO Theresa E. Reinseth sold 2,309 shares of the company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $149.95, for a total value of $346,234.55. Following the completion of the sale, the chief accounting officer now directly owns 4,417 shares in the company, valued at approximately $662,329.15. This represents a 34.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $150.25, for a total value of $247,161.25. Following the completion of the sale, the insider now owns 5,153 shares of the company’s stock, valued at $774,238.25. This represents a 24.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,639 shares of company stock worth $17,163,446. 0.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on MMM shares. Barclays raised their price target on 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Bank of America raised their price target on 3M from $175.00 to $179.00 and gave the company a “buy” rating in a report on Thursday, March 6th. JPMorgan Chase & Co. raised their price target on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $140.00 to $170.00 in a report on Wednesday, January 22nd. Finally, Royal Bank of Canada restated an “underperform” rating and set a $96.00 price target on shares of 3M in a report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $149.13.

3M Price Performance

MMM opened at $150.64 on Wednesday. The business has a fifty day moving average of $147.25 and a 200 day moving average of $137.15. 3M has a 52-week low of $85.62 and a 52-week high of $156.35. 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 $81.78 billion, a P/E ratio of 19.95, a PEG ratio of 3.30 and a beta of 0.97.

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

3M Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th were issued a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.94%. This is a boost from 3M’s previous quarterly dividend of $0.70. The ex-dividend date was Friday, February 14th. 3M’s dividend payout ratio is currently 38.68%.

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.