Wayfinding Financial LLC Acquires New Shares in 3M (NYSE:MMM)

Wayfinding Financial LLC acquired a new stake in shares of 3M (NYSE:MMM) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 6,598 shares of the conglomerate’s stock, valued at approximately $851,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Financial Life Planners bought a new position in 3M in the 4th quarter worth about $25,000. Proficio Capital Partners LLC bought a new position in 3M in the 4th quarter worth about $26,000. FSA Wealth Management LLC bought a new position in 3M in the 3rd quarter worth about $27,000. Daymark Wealth Partners LLC increased its position in shares of 3M by 9.0% during the 4th quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 19,552 shares during the last quarter. Finally, ORG Partners LLC increased its position in shares of 3M by 44.1% during the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after purchasing an additional 98 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors.

Insider Activity at 3M

In other news, EVP Victoria Clarke sold 1,750 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $154.22, for a total value 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 trade represents a 90.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Theresa E. Reinseth sold 2,309 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were 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 owns 4,417 shares in the company, valued at $662,329.15. This represents a 34.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,639 shares of company stock valued at $17,163,446. Corporate insiders own 0.34% of the company’s stock.

3M Stock Performance

Shares of MMM stock opened at $151.16 on Friday. 3M has a 52 week low of $85.62 and a 52 week high of $156.35. The company has a market cap of $82.06 billion, a PE ratio of 20.02, a P/E/G ratio of 3.30 and a beta of 0.97. 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’s fifty day simple moving average is $147.96 and its 200-day simple moving average is $137.36.

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. 3M had a net margin of 15.71% and a return on equity of 100.77%. The business 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 posted $2.42 EPS. The company’s quarterly revenue was down 25.0% on a year-over-year basis. As a group, equities 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 was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were given a dividend of $0.73 per share. The ex-dividend date was Friday, February 14th. This is an increase from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 dividend on an annualized basis and a yield of 1.93%. 3M’s payout ratio is presently 38.68%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Royal Bank of Canada restated an “underperform” rating and set a $96.00 target price on shares of 3M in a report on Thursday, February 27th. Wells Fargo & Company raised 3M from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Citigroup increased their target price on 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Bank of America raised their price objective on 3M from $175.00 to $179.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Finally, JPMorgan Chase & Co. lifted their target price on 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Two 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $149.13.

3M 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.