3M (NYSE:MMM) Holdings Lifted by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC increased its holdings in shares of 3M (NYSE:MMM) by 2.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,117 shares of the conglomerate’s stock after buying an additional 138 shares during the quarter. Soltis Investment Advisors LLC’s holdings in 3M were worth $661,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of MMM. Financial Life Planners purchased a new position in 3M in the fourth quarter valued at about $25,000. FSA Wealth Management LLC purchased a new position in 3M in the third quarter valued at about $27,000. McClarren Financial Advisors Inc. grew its stake in 3M by 118.6% in the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 121 shares in the last quarter. True Wealth Design LLC grew its stake in 3M by 2,466.7% in the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock valued at $42,000 after purchasing an additional 296 shares in the last quarter. Finally, ORG Partners LLC grew its stake in 3M by 44.1% in the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after purchasing an additional 98 shares in the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Insider Activity

In other news, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $150.25, for a total value of $247,161.25. Following the sale, the insider now directly owns 5,153 shares in the company, valued at approximately $774,238.25. This represents a 24.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 value of $7,553,775.40. Following the completion of the sale, the chairman now owns 180,895 shares in the company, valued at approximately $27,550,308.50. This represents a 21.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 113,639 shares of company stock worth $17,163,446. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their target price on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of 3M in a research report on Saturday, February 1st. Mizuho boosted their price target on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada reaffirmed an “underperform” rating and issued a $96.00 price target on shares of 3M in a research report on Wednesday, January 22nd. Two investment 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’s stock. Based on data from MarketBeat, 3M currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.87.

3M Price Performance

NYSE MMM opened at $149.59 on Tuesday. The stock has a 50-day simple moving average of $137.11 and a 200 day simple moving average of $132.92. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The stock has a market capitalization of $81.21 billion, a PE ratio of 19.81, a P/E/G ratio of 3.37 and a beta of 0.96. 3M has a twelve month low of $75.40 and a twelve month high of $155.00.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, beating the consensus estimate of $1.66 by $0.02. The firm had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. The company’s revenue for the quarter was down 25.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.42 EPS. Research analysts anticipate that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th will be paid a $0.73 dividend. This is a positive change from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Friday, February 14th. 3M’s dividend payout ratio is currently 37.09%.

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.