Venturi Wealth Management LLC Purchases 5,315 Shares of 3M (NYSE:MMM)

Venturi Wealth Management LLC lifted its position in shares of 3M (NYSE:MMM) by 1,436.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,685 shares of the conglomerate’s stock after purchasing an additional 5,315 shares during the period. Venturi Wealth Management LLC’s holdings in 3M were worth $734,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Financial Life Planners bought a new position in shares of 3M during the 4th quarter worth $25,000. FSA Wealth Management LLC bought a new position in shares of 3M during the 3rd quarter worth $27,000. True Wealth Design LLC grew its stake in shares of 3M by 2,466.7% during the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock worth $42,000 after acquiring an additional 296 shares during the period. ORG Partners LLC grew its stake in shares of 3M by 44.1% during the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after acquiring an additional 98 shares during the period. Finally, Catalyst Capital Advisors LLC grew its stake in shares of 3M by 81.5% during the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the conglomerate’s stock worth $47,000 after acquiring an additional 163 shares during the period. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MMM shares. UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and increased their price target for the stock from $130.00 to $184.00 in a research note on Wednesday, November 13th. JPMorgan Chase & Co. increased their price objective on 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Bank of America increased their price objective on 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of 3M in a report on Wednesday. Finally, Wells Fargo & Company raised 3M from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $140.00 to $170.00 in a report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $148.87.

Insider Activity

In other news, Chairman Michael F. Roman sold 49,598 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $152.30, for a total value of $7,553,775.40. Following the completion of the transaction, the chairman now owns 180,895 shares in the company, valued at $27,550,308.50. This trade represents a 21.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Victoria Clarke sold 1,750 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $154.22, for a total value of $269,885.00. Following the completion of the transaction, the executive vice president now owns 194 shares of the company’s stock, valued at approximately $29,918.68. The trade was a 90.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,639 shares of company stock worth $17,163,446 in the last quarter. 0.38% of the stock is owned by company insiders.

3M Price Performance

Shares of MMM stock opened at $150.11 on Thursday. The firm has a market cap of $81.49 billion, a P/E ratio of 19.88, a P/E/G ratio of 3.29 and a beta of 0.96. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $155.00. The business’s 50 day moving average price is $139.94 and its 200-day moving average price is $134.31. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41.

3M (NYSE:MMM) last issued its quarterly earnings data 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 firm had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. The business’s quarterly revenue was down 25.0% compared to the same quarter last year. During the same period last year, the company earned $2.42 EPS. On average, equities research analysts anticipate that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The company also recently announced 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 represents a $2.92 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from 3M’s previous quarterly dividend of $0.70. 3M’s dividend payout ratio (DPR) is presently 38.68%.

3M Company Profile

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.