819 Shares in 3M (NYSE:MMM) Bought by Keystone Financial Group Inc.

Keystone Financial Group Inc. bought a new position in 3M (NYSE:MMM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 819 shares of the conglomerate’s stock, valued at approximately $106,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Financial Life Planners acquired a new stake in shares of 3M in the 4th quarter worth approximately $25,000. FSA Wealth Management LLC acquired a new stake in 3M during the third quarter valued at approximately $27,000. Daymark Wealth Partners LLC lifted its stake in 3M by 8.6% during the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 17,211 shares during the last quarter. McClarren Financial Advisors Inc. lifted its stake in 3M by 118.6% during the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 121 shares during the last quarter. Finally, ORG Partners LLC lifted its stake in 3M by 44.1% during 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 during the last quarter. Institutional investors own 65.25% of the company’s stock.

3M Price Performance

Shares of MMM opened at $152.28 on Friday. 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’s fifty day simple moving average is $136.38 and its 200 day simple moving average is $132.07. 3M has a 1-year low of $75.40 and a 1-year high of $155.00. The company has a market cap of $82.92 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 3.37 and a beta of 0.96.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.02. The business had revenue of $6.01 billion during 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%. 3M’s revenue was down 25.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.42 earnings per share. On average, research analysts forecast 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. Shareholders of record on Friday, February 14th will be issued 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 is Friday, February 14th. This represents a $2.92 annualized dividend and a yield of 1.92%. 3M’s dividend payout ratio (DPR) is presently 37.09%.

Insider Transactions at 3M

In related news, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $150.25, for a total value of $247,161.25. Following the sale, the insider now directly owns 5,153 shares in the company, valued at approximately $774,238.25. The trade was a 24.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Theresa E. Reinseth sold 2,309 shares of 3M stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $149.95, for a total value of $346,234.55. Following the transaction, the chief accounting officer now directly owns 4,417 shares of the company’s stock, valued at $662,329.15. The trade was 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 in the last quarter. 0.38% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MMM shares. JPMorgan Chase & Co. boosted their price target on shares of 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Melius upgraded shares of 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and boosted their price target for the company from $130.00 to $184.00 in a report on Wednesday, November 13th. Weiss Ratings restated a “hold (c)” rating on shares of 3M in a report on Saturday, February 1st. Finally, Mizuho boosted their price target 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 equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, 3M has a consensus rating of “Moderate Buy” and an average price target of $148.87.

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.