Davis R M Inc. Has $587,000 Holdings in 3M (NYSE:MMM)

Davis R M Inc. grew its holdings in 3M (NYSE:MMM) by 20.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,547 shares of the conglomerate’s stock after purchasing an additional 766 shares during the period. Davis R M Inc.’s holdings in 3M were worth $587,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Investors Asset Management of Georgia Inc. GA ADV increased its stake in 3M by 1.3% in the 4th quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,377 shares of the conglomerate’s stock valued at $694,000 after buying an additional 67 shares during the period. Parkside Financial Bank & Trust increased its stake in shares of 3M by 1.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 5,153 shares of the conglomerate’s stock worth $665,000 after acquiring an additional 70 shares during the last quarter. Gilbert & Cook Inc. raised its holdings in shares of 3M by 1.5% during the fourth quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate’s stock worth $659,000 after acquiring an additional 73 shares in the last quarter. Childress Capital Advisors LLC grew its stake in 3M by 5.1% in the fourth quarter. Childress Capital Advisors LLC now owns 1,573 shares of the conglomerate’s stock valued at $203,000 after purchasing an additional 76 shares in the last quarter. Finally, Capital Advisors Ltd. LLC increased its position in 3M by 5.3% in the 4th quarter. Capital Advisors Ltd. LLC now owns 1,519 shares of the conglomerate’s stock worth $196,000 after purchasing an additional 77 shares during the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.

3M Trading Up 0.1 %

Shares of MMM stock opened at $147.74 on Wednesday. The firm has a market capitalization of $80.21 billion, a P/E ratio of 19.57, a price-to-earnings-growth ratio of 3.30 and a beta of 0.97. 3M has a 1 year low of $81.23 and a 1 year high of $156.35. The firm’s fifty day simple moving average is $145.26 and its 200 day simple moving average is $136.53. 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 (NYSE:MMM) last posted its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.02. 3M had a net margin of 15.71% and a return on equity of 100.77%. The company 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 posted $2.42 EPS. The business’s revenue was down 25.0% compared to the same quarter last year. As a group, sell-side 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 will be paid on Wednesday, March 12th. Shareholders 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 1.98%. This is an increase from 3M’s previous quarterly dividend of $0.70. 3M’s dividend payout ratio (DPR) is currently 38.68%.

Insider Transactions at 3M

In related news, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the stock in a transaction dated 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 transaction, the insider now owns 5,153 shares of the company’s stock, valued at $774,238.25. This represents a 24.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Victoria Clarke sold 1,750 shares of the firm’s stock in a transaction dated 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 owns 194 shares of the company’s stock, valued at approximately $29,918.68. This represents a 90.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,639 shares of company stock valued at $17,163,446. 0.34% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

MMM has been the subject of several recent research reports. Barclays boosted their price target on 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of 3M in a research report on Friday, March 7th. JPMorgan Chase & Co. increased 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. Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Finally, UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and raised their target price for the company from $130.00 to $184.00 in a report on Wednesday, November 13th. 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 stock. According to MarketBeat, the stock currently 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.