SilverOak Wealth Management LLC Grows Position in 3M (NYSE:MMM)

SilverOak Wealth Management LLC raised its stake in 3M (NYSE:MMM - Free Report) by 4.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 86,692 shares of the conglomerate's stock after purchasing an additional 3,711 shares during the period. 3M accounts for approximately 2.4% of SilverOak Wealth Management LLC's holdings, making the stock its 10th biggest holding. SilverOak Wealth Management LLC's holdings in 3M were worth $11,191,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Financial Life Planners acquired a new position in 3M during the 4th quarter valued at approximately $25,000. FSA Wealth Management LLC acquired a new position in 3M during the 3rd quarter valued at about $27,000. Daymark Wealth Partners LLC grew its position in 3M by 9.0% in the 4th quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate's stock worth $31,000 after purchasing an additional 19,552 shares during the last quarter. ORG Partners LLC increased its stake 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 during the period. Finally, True Wealth Design LLC raised its holdings in shares of 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. Institutional investors and hedge funds own 65.25% of the company's stock.

3M Stock Down 2.8 %

Shares of MMM traded down $4.21 during mid-day trading on Friday, reaching $144.87. The company's stock had a trading volume of 4,278,493 shares, compared to its average volume of 3,924,529. The company has a market cap of $78.65 billion, a price-to-earnings ratio of 19.19, a price-to-earnings-growth ratio of 3.32 and a beta of 0.96. The business has a fifty day moving average of $140.32 and a 200 day moving average of $134.41. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. 3M has a 1 year low of $75.40 and a 1 year high of $155.00.

3M (NYSE:MMM - Get Free Report) last announced its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The firm had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same period in the prior year, the business earned $2.42 EPS. The business's revenue for the quarter was down 25.0% on a year-over-year basis. As a group, analysts forecast that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th will be paid a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 2.02%. The ex-dividend date is Friday, February 14th. This is a positive change from 3M's previous quarterly dividend of $0.70. 3M's dividend payout ratio is currently 38.68%.

Insiders Place Their Bets

In related news, Chairman Michael F. Roman sold 49,598 shares of the 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 transaction, the chairman now owns 180,895 shares in the company, valued at approximately $27,550,308.50. This represents a 21.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 transaction of $269,885.00. Following the transaction, the executive vice president now directly owns 194 shares in the company, 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. 0.34% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Wells Fargo & Company raised shares of 3M from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Royal Bank of Canada restated an "underperform" rating and issued a $96.00 target price on shares of 3M in a research report on Wednesday, January 22nd. Citigroup lifted their price target on 3M from $142.00 to $152.00 and gave the company a "neutral" rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. upped their price objective on 3M from $162.00 to $165.00 and gave the company an "overweight" rating in a report on Wednesday, January 22nd. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of 3M in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $148.87.

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.