Clarity Financial LLC Has $352,000 Position in 3M (NYSE:MMM)

Clarity Financial LLC cut its position in shares of 3M (NYSE:MMM) by 12.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,730 shares of the conglomerate’s stock after selling 388 shares during the period. Clarity Financial LLC’s holdings in 3M were worth $352,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. FSA Wealth Management LLC acquired a new position in 3M during the third quarter worth approximately $27,000. Daymark Wealth Partners LLC increased its holdings in shares of 3M by 8.6% during the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 17,211 shares during the last quarter. McClarren Financial Advisors Inc. increased its holdings in shares of 3M by 118.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 121 shares during the last quarter. ORG Partners LLC raised its stake in 3M by 44.1% in the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after acquiring an additional 98 shares during the period. Finally, True Wealth Design LLC lifted its holdings in 3M by 2,466.7% during the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock valued at $42,000 after purchasing an additional 296 shares during the last quarter. 65.25% of the stock is owned by institutional investors.

3M Trading Up 1.8 %

MMM opened at $154.31 on Friday. The stock has a market capitalization of $84.03 billion, a price-to-earnings ratio of 20.44, a P/E/G ratio of 3.35 and a beta of 0.95. 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 $75.40 and a twelve month high of $154.65. The company has a 50-day simple moving average of $134.20 and a 200 day simple moving average of $130.37.

3M (NYSE:MMM) last issued 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 company had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The firm’s quarterly revenue was down 25.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.42 EPS. Analysts predict that 3M will post 7.8 EPS for the current fiscal year.

3M Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were paid a $0.70 dividend. The ex-dividend date was Friday, November 15th. This represents a $2.80 annualized dividend and a dividend yield of 1.81%. 3M’s payout ratio is 37.09%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MMM. Barclays increased their price objective on shares of 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. UBS Group raised shares of 3M from a “neutral” rating to a “buy” rating and increased their price target for the company from $130.00 to $184.00 in a report on Wednesday, November 13th. Mizuho boosted their price objective on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. increased their target price on 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Finally, 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 research note on Wednesday, January 22nd. 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.87.

Insider Transactions at 3M

In related news, Chairman Michael F. Roman sold 49,598 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $152.30, for a total transaction of $7,553,775.40. Following the completion of the transaction, the chairman now directly owns 180,895 shares in the company, valued at $27,550,308.50. This represents a 21.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $150.25, for a total transaction of $247,161.25. Following the sale, the insider now directly owns 5,153 shares in the company, valued at approximately $774,238.25. The trade was a 24.20 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 111,889 shares of company stock valued at $16,893,561. Corporate 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.