DT Investment Partners LLC Has $1.32 Million Stock Holdings in 3M (NYSE:MMM)

DT Investment Partners LLC decreased its holdings in 3M (NYSE:MMM) by 12.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,245 shares of the conglomerate’s stock after selling 1,505 shares during the quarter. DT Investment Partners LLC’s holdings in 3M were worth $1,323,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. First Merchants Corp bought a new position in shares of 3M during the fourth quarter worth $268,000. Palacios Wealth Management LLC bought a new stake in 3M during the 4th quarter worth about $251,000. Northern Financial Advisors Inc raised its holdings in 3M by 3.0% during the fourth quarter. Northern Financial Advisors Inc now owns 9,135 shares of the conglomerate’s stock worth $1,179,000 after acquiring an additional 266 shares in the last quarter. Vontobel Holding Ltd. raised its stake in shares of 3M by 25.6% during the 4th quarter. Vontobel Holding Ltd. now owns 32,940 shares of the conglomerate’s stock worth $4,252,000 after purchasing an additional 6,710 shares in the last quarter. Finally, Catalyst Financial Partners LLC raised its position in 3M by 29.2% during the fourth quarter. Catalyst Financial Partners LLC now owns 2,361 shares of the conglomerate’s stock worth $305,000 after acquiring an additional 533 shares in the last quarter. 65.25% of the stock is owned by institutional investors.

Insider Transactions at 3M

In other 3M news, insider Christian T. Goralski, Jr. sold 6,318 shares of 3M stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $149.43, for a total value of $944,098.74. Following the transaction, the insider now directly owns 5,024 shares of the company’s stock, valued at $750,736.32. The trade was a 55.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Theresa E. Reinseth sold 2,309 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $149.95, for a total transaction 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 approximately $662,329.15. This trade represents a 34.33 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,639 shares of company stock valued at $17,163,446. 0.34% of the stock is owned by corporate insiders.

3M Trading Down 0.1 %

Shares of 3M stock opened at $148.69 on Friday. The company’s 50-day moving average price is $138.19 and its 200-day moving average price is $133.52. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. The company has a market cap of $80.73 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 3.37 and a beta of 0.96. 3M has a 12-month low of $75.40 and a 12-month high of $155.00.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $5.77 billion. During the same period in the previous year, the business earned $2.42 EPS. The business’s revenue for the quarter was down 25.0% on a year-over-year basis. On average, equities analysts expect that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

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

Analyst Ratings Changes

MMM has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Citigroup raised their price target on 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Barclays boosted 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. Melius Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a report on Tuesday, October 22nd. Finally, Royal Bank of Canada reissued an “underperform” rating and set a $96.00 price objective on shares of 3M in a report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, 3M has a consensus rating of “Moderate Buy” and a consensus price target of $148.87.

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.