Telos Capital Management Inc. Reduces Holdings in 3M (NYSE:MMM)

Telos Capital Management Inc. cut its position in 3M (NYSE:MMM) by 3.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,398 shares of the conglomerate’s stock after selling 98 shares during the quarter. Telos Capital Management Inc.’s holdings in 3M were worth $310,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Financial Life Planners purchased a new position in 3M in the 4th quarter valued at about $25,000. FSA Wealth Management LLC acquired a new position in shares of 3M in the third quarter worth about $27,000. Daymark Wealth Partners LLC boosted its holdings in 3M by 8.6% in the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 17,211 shares during the last quarter. McClarren Financial Advisors Inc. grew its stake in 3M by 118.6% during the 3rd 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. Finally, ORG Partners LLC increased its holdings in 3M by 44.1% during the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after purchasing an additional 98 shares during the last quarter. 65.25% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Victoria Clarke sold 1,750 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $154.22, for a total transaction of $269,885.00. Following the sale, the executive vice president now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Michael F. Roman sold 49,598 shares of the stock in a transaction 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 transaction, the chairman now directly owns 180,895 shares of the company’s stock, valued at approximately $27,550,308.50. The trade was a 21.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,639 shares of company stock worth $17,163,446. 0.38% of the stock is owned by corporate insiders.

3M Price Performance

Shares of NYSE:MMM opened at $149.90 on Friday. 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 firm’s 50 day moving average is $136.78 and its two-hundred day moving average is $132.21. The firm has a market capitalization of $81.63 billion, a P/E ratio of 19.85, a PEG ratio of 3.37 and a beta of 0.96. 3M has a 52 week low of $75.40 and a 52 week high of $155.00.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. The company had revenue of $6.01 billion during 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 firm’s quarterly revenue was down 25.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.42 EPS. Analysts anticipate that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.73 per share. This is a boost from 3M’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, February 14th. This represents a $2.92 annualized dividend and a yield of 1.95%. 3M’s dividend payout ratio (DPR) is presently 37.09%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Citigroup raised their price target on shares of 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Melius raised shares of 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Melius Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research report on Tuesday, October 22nd. Barclays boosted their price objective on 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of 3M in a research report on Saturday, February 1st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $148.87.

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.