Mitchell Sinkler & Starr PA Buys 175 Shares of 3M (NYSE:MMM)

Mitchell Sinkler & Starr PA raised its position in shares of 3M (NYSE:MMM) by 0.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,162 shares of the conglomerate’s stock after purchasing an additional 175 shares during the quarter. Mitchell Sinkler & Starr PA’s holdings in 3M were worth $3,119,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Financial Life Planners bought a new stake in shares of 3M during the 4th quarter valued at about $25,000. FSA Wealth Management LLC bought a new stake in 3M in the 3rd quarter valued at $27,000. True Wealth Design LLC boosted its stake in 3M by 2,466.7% during the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock valued at $42,000 after buying an additional 296 shares during the last quarter. ORG Partners LLC grew its holdings in shares of 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. Finally, Catalyst Capital Advisors LLC increased its holdings in shares of 3M by 81.5% in the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the conglomerate’s stock worth $47,000 after buying an additional 163 shares during the last quarter. 65.25% of the stock is owned by institutional investors.

Insider Activity at 3M

In other news, EVP Victoria Clarke sold 1,750 shares of the business’s stock in a transaction on Friday, January 31st. The stock was 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 directly owns 194 shares of the company’s stock, valued at $29,918.68. The trade was a 90.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the stock in a transaction on Monday, January 27th. The shares were 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. The trade was a 24.20 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,639 shares of company stock valued at $17,163,446. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $96.00 price objective on shares of 3M in a research report on Thursday, February 27th. Wells Fargo & Company raised 3M from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Bank of America increased their price objective on 3M from $175.00 to $179.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Weiss Ratings reissued a “hold (c+)” rating on shares of 3M in a research report on Saturday, March 22nd. 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 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 stock. According to data from MarketBeat, 3M currently has a consensus rating of “Moderate Buy” and an average target price of $149.13.

3M Stock Down 2.5 %

Shares of NYSE MMM opened at $144.74 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The firm has a 50-day moving average price of $149.60 and a 200 day moving average price of $138.17. 3M has a 52 week low of $88.23 and a 52 week high of $156.35. The stock has a market capitalization of $78.58 billion, a price-to-earnings ratio of 19.17, a price-to-earnings-growth ratio of 3.30 and a beta of 0.97.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping the consensus estimate of $1.66 by $0.02. The business 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 company’s quarterly revenue was down 25.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.42 EPS. Equities research analysts anticipate that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were given a $0.73 dividend. The ex-dividend date was Friday, February 14th. 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 2.02%. 3M’s payout ratio is currently 38.68%.

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.