3M (NYSE:MMM) Shares Sold by Investors Research Corp

Investors Research Corp lessened its holdings in shares of 3M (NYSE:MMM) by 1.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 10,190 shares of the conglomerate’s stock after selling 100 shares during the quarter. Investors Research Corp’s holdings in 3M were worth $1,315,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Financial Life Planners acquired a new position in 3M in the 4th quarter valued at approximately $25,000. Proficio Capital Partners LLC acquired a new position in 3M during the fourth quarter worth $26,000. FSA Wealth Management LLC acquired a new stake in shares of 3M in the third quarter valued at $27,000. Daymark Wealth Partners LLC lifted its stake in shares of 3M by 9.0% during the fourth quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 19,552 shares during the period. Finally, ORG Partners LLC grew its position in shares of 3M by 44.1% during the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after buying an additional 98 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

Analyst Upgrades and Downgrades

MMM has been the topic of several research analyst reports. UBS Group raised 3M from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $130.00 to $184.00 in a research note on Wednesday, November 13th. Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $140.00 to $170.00 in a report on Wednesday, January 22nd. Bank of America boosted their price objective on shares of 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a research note on Thursday. Barclays lifted their price objective on shares of 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of 3M in a report on Friday. 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 company’s stock. According to MarketBeat.com, 3M currently has a consensus rating of “Moderate Buy” and an average price target of $149.13.

Insider Buying and Selling

In other 3M news, insider Christian T. Goralski, Jr. sold 6,318 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $149.43, for a total transaction of $944,098.74. Following the sale, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Victoria Clarke sold 1,750 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 113,639 shares of company stock worth $17,163,446. 0.34% of the stock is owned by insiders.

3M Trading Down 0.4 %

3M stock opened at $146.36 on Monday. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. 3M has a 12-month low of $78.14 and a 12-month high of $156.35. The firm has a 50 day moving average of $144.51 and a 200 day moving average of $136.28. The firm has a market capitalization of $79.46 billion, a price-to-earnings ratio of 19.38, a P/E/G ratio of 3.30 and a beta of 0.97.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. The company had revenue of $6.01 billion during 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%. The firm’s revenue for the quarter was down 25.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.42 earnings per share. As a group, research analysts predict that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 14th will be issued a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 2.00%. 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%.

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.