Catalyst Financial Partners LLC Acquires 533 Shares of 3M (NYSE:MMM)

Catalyst Financial Partners LLC raised its holdings in shares of 3M (NYSE:MMM) by 29.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,361 shares of the conglomerate’s stock after purchasing an additional 533 shares during the quarter. Catalyst Financial Partners LLC’s holdings in 3M were worth $305,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. Gilbert & Cook Inc. lifted its holdings in shares of 3M by 1.5% in the 4th quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate’s stock worth $659,000 after acquiring an additional 73 shares during the last quarter. Childress Capital Advisors LLC lifted its holdings in shares of 3M by 5.1% in the 4th quarter. Childress Capital Advisors LLC now owns 1,573 shares of the conglomerate’s stock worth $203,000 after acquiring an additional 76 shares during the last quarter. Wynn Capital LLC lifted its holdings in shares of 3M by 0.7% in the 4th quarter. Wynn Capital LLC now owns 11,690 shares of the conglomerate’s stock worth $1,509,000 after acquiring an additional 80 shares during the last quarter. Harbour Investments Inc. lifted its holdings in shares of 3M by 0.8% in the 3rd quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate’s stock worth $1,443,000 after acquiring an additional 81 shares during the last quarter. Finally, William Allan Corp lifted its holdings in shares of 3M by 1.4% in the 4th quarter. William Allan Corp now owns 5,959 shares of the conglomerate’s stock worth $769,000 after acquiring an additional 82 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. UBS Group raised shares of 3M from a “neutral” rating to a “buy” rating and raised their price target for the stock from $130.00 to $184.00 in a research note on Wednesday, November 13th. Bank of America raised their price target on shares of 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Melius raised shares of 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. raised their price target on shares of 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Finally, Citigroup raised their price target on shares of 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, 3M presently has a consensus rating of “Moderate Buy” and an average price target of $148.87.

3M Stock Down 0.0 %

Shares of 3M stock opened at $148.65 on Friday. The firm’s 50 day moving average price is $138.49 and its 200-day moving average price is $133.62. 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 52-week low of $75.40 and a 52-week high of $155.00. The company has a market cap of $80.70 billion, a P/E ratio of 19.69, a PEG ratio of 3.37 and a beta of 0.96.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. 3M had a net margin of 15.71% and a return on equity of 100.77%. The firm had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.77 billion. During the same quarter in the previous year, the firm earned $2.42 EPS. The company’s quarterly revenue was down 25.0% compared to the same quarter last year. On average, sell-side analysts predict that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th will be given a $0.73 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.96%. This is an increase from 3M’s previous quarterly dividend of $0.70. 3M’s payout ratio is presently 37.09%.

Insider Transactions at 3M

In related news, CAO Theresa E. Reinseth sold 2,309 shares of 3M stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $149.95, for a total value of $346,234.55. Following the completion of the sale, the chief accounting officer now directly owns 4,417 shares in the company, valued at $662,329.15. This trade represents a 34.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 completion of the sale, the executive vice president now owns 194 shares of the company’s stock, 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 in the last 90 days. Insiders own 0.34% of the company’s stock.

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.