Montis Financial LLC Purchases New Shares in 3M (NYSE:MMM)

Montis Financial LLC acquired a new position in 3M (NYSE:MMM) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,611 shares of the conglomerate’s stock, valued at approximately $208,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Financial Life Planners purchased a new stake in shares of 3M during the fourth quarter valued at approximately $25,000. Proficio Capital Partners LLC bought a new stake in shares of 3M during the 4th quarter worth $26,000. FSA Wealth Management LLC purchased a new position in shares of 3M in the 3rd quarter worth about $27,000. Daymark Wealth Partners LLC grew its position in 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 buying an additional 19,552 shares during the period. Finally, ORG Partners LLC increased its holdings in 3M by 44.1% during the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after buying an additional 98 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Trading Up 3.1 %

3M stock opened at $150.58 on Friday. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. 3M has a fifty-two week low of $85.62 and a fifty-two week high of $156.35. The stock has a market cap of $81.75 billion, a P/E ratio of 19.94, a PEG ratio of 3.30 and a beta of 0.97. The firm’s fifty day moving average price is $146.42 and its 200-day moving average price is $136.82.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The firm had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.77 billion. During the same quarter last year, the firm posted $2.42 EPS. The company’s revenue was down 25.0% compared to the same quarter last year. Equities research analysts forecast that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

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

Insider Activity at 3M

In other 3M news, Chairman Michael F. Roman sold 49,598 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $152.30, for a total value of $7,553,775.40. Following the completion of the sale, the chairman now owns 180,895 shares of the company’s stock, valued at $27,550,308.50. This represents a 21.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Victoria Clarke sold 1,750 shares of 3M stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $154.22, for a total transaction of $269,885.00. Following the transaction, the executive vice president now directly owns 194 shares in the company, valued at $29,918.68. This trade represents a 90.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,639 shares of company stock valued at $17,163,446 over the last 90 days. 0.38% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on MMM. 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. Bank of America increased their price objective on 3M from $175.00 to $179.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Weiss Ratings restated a “hold (c+)” rating on shares of 3M in a research note on Friday, March 7th. Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. boosted their price objective on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $149.13.

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.