Alliance Wealth Advisors LLC UT Acquires 140 Shares of 3M (NYSE:MMM)

Alliance Wealth Advisors LLC UT boosted its holdings in shares of 3M (NYSE:MMM) by 3.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,071 shares of the conglomerate’s stock after acquiring an additional 140 shares during the period. Alliance Wealth Advisors LLC UT’s holdings in 3M were worth $445,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of 3M by 78.9% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 3,576 shares of the conglomerate’s stock valued at $335,000 after buying an additional 1,577 shares in the last quarter. Ballentine Partners LLC boosted its holdings in shares of 3M by 5.1% in the 3rd quarter. Ballentine Partners LLC now owns 5,935 shares of the conglomerate’s stock valued at $556,000 after buying an additional 287 shares in the last quarter. Clarius Group LLC boosted its holdings in shares of 3M by 59.4% in the 3rd quarter. Clarius Group LLC now owns 3,414 shares of the conglomerate’s stock valued at $320,000 after buying an additional 1,272 shares in the last quarter. U.S. Capital Wealth Advisors LLC boosted its holdings in shares of 3M by 11.2% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 9,343 shares of the conglomerate’s stock valued at $875,000 after buying an additional 939 shares in the last quarter. Finally, Country Club Bank GFN boosted its holdings in shares of 3M by 3.9% in the 3rd quarter. Country Club Bank GFN now owns 12,561 shares of the conglomerate’s stock valued at $1,171,000 after buying an additional 466 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors.

3M Trading Up 0.5 %

MMM traded up $0.42 on Friday, hitting $91.83. The company had a trading volume of 4,520,901 shares, compared to its average volume of 4,283,067. 3M has a 1 year low of $71.12 and a 1 year high of $95.67. The firm has a market cap of $50.82 billion, a P/E ratio of -7.27, a PEG ratio of 1.74 and a beta of 1.02. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 2.69. The company’s fifty day moving average price is $95.71 and its 200 day moving average price is $97.41.

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th were given a dividend of $1.51 per share. The ex-dividend date was Thursday, February 15th. This is an increase from 3M’s previous quarterly dividend of $1.50. This represents a $6.04 dividend on an annualized basis and a dividend yield of 6.58%. 3M’s payout ratio is currently -47.82%.

Wall Street Analysts Forecast Growth

MMM has been the topic of a number of recent analyst reports. Mizuho restated a “neutral” rating and issued a $105.00 price target on shares of 3M in a report on Wednesday, March 27th. Royal Bank of Canada decreased their price objective on shares of 3M from $84.00 to $78.00 and set an “underperform” rating for the company in a research report on Tuesday, April 2nd. Bank of America decreased their price objective on shares of 3M from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. decreased their price objective on shares of 3M from $118.00 to $110.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Finally, StockNews.com raised shares of 3M from a “buy” rating to a “strong-buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $104.00.

Insider Transactions at 3M

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total transaction of $39,328.32. Following the completion of the transaction, the insider now directly owns 3,966 shares of the company’s stock, valued at $366,141.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.34% of the company’s stock.

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.