PDS Planning Inc Acquires 900 Shares of 3M (NYSE:MMM)

PDS Planning Inc boosted its holdings in shares of 3M (NYSE:MMM) by 22.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,848 shares of the conglomerate’s stock after acquiring an additional 900 shares during the period. PDS Planning Inc’s holdings in 3M were worth $626,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. D.A. Davidson & CO. lifted its holdings in 3M by 16.2% during the third quarter. D.A. Davidson & CO. now owns 146,333 shares of the conglomerate’s stock worth $20,004,000 after acquiring an additional 20,421 shares in the last quarter. Franklin Resources Inc. lifted its holdings in 3M by 26.8% during the third quarter. Franklin Resources Inc. now owns 845,401 shares of the conglomerate’s stock worth $114,770,000 after acquiring an additional 178,450 shares in the last quarter. Meyer Handelman Co. lifted its holdings in 3M by 1.4% during the fourth quarter. Meyer Handelman Co. now owns 197,618 shares of the conglomerate’s stock worth $25,511,000 after acquiring an additional 2,678 shares in the last quarter. FMR LLC lifted its holdings in shares of 3M by 88.7% in the third quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock valued at $1,225,087,000 after purchasing an additional 4,212,409 shares in the last quarter. Finally, USA Financial Formulas bought a new stake in shares of 3M in the fourth quarter valued at about $816,000. 65.25% of the stock is currently owned by institutional investors.

3M Price Performance

Shares of NYSE MMM opened at $150.64 on Wednesday. The business’s 50 day moving average price is $147.25 and its two-hundred day moving average price is $137.15. The company has a market cap of $81.78 billion, a PE ratio of 19.95, a price-to-earnings-growth ratio of 3.30 and a beta of 0.97. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. 3M has a twelve month low of $85.62 and a twelve month high of $156.35.

3M (NYSE:MMM) last announced its quarterly earnings results 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 firm had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. The business’s revenue was down 25.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.42 earnings per share. On average, analysts predict that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The company 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 represents a $2.92 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from 3M’s previous quarterly dividend of $0.70. 3M’s payout ratio is currently 38.68%.

Insider Transactions at 3M

In related news, EVP Victoria Clarke sold 1,750 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $154.22, for a total value of $269,885.00. Following the completion of the sale, the executive vice president now directly owns 194 shares in the company, valued at approximately $29,918.68. The trade was a 90.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were 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 approximately $774,238.25. This trade represents a 24.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,639 shares of company stock worth $17,163,446 over the last quarter. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

MMM has been the topic of a number of research reports. Royal Bank of Canada restated an “underperform” rating and issued a $96.00 price target on shares of 3M in a report on Thursday, February 27th. Bank of America boosted 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. Barclays boosted 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. Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $140.00 to $170.00 in a report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. boosted 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. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, 3M has an average rating of “Moderate Buy” and an average target price of $149.13.

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.