3M (NYSE:MMM) Shares Acquired by Atlas Capital Advisors Inc.

Atlas Capital Advisors Inc. lifted its holdings in 3M (NYSE:MMM - Free Report) by 270.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,262 shares of the conglomerate's stock after buying an additional 5,302 shares during the quarter. Atlas Capital Advisors Inc.'s holdings in 3M were worth $937,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Financial Life Planners bought a new stake in 3M in the 4th quarter worth approximately $25,000. Proficio Capital Partners LLC purchased a new position in shares of 3M in the fourth quarter worth approximately $26,000. Hazlett Burt & Watson Inc. purchased a new stake in 3M during the fourth quarter valued at approximately $27,000. Daymark Wealth Partners LLC boosted its stake 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 worth $31,000 after acquiring an additional 19,552 shares during the last quarter. Finally, Meeder Asset Management Inc. increased its stake in shares of 3M by 230.1% in the 4th quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate's stock worth $40,000 after purchasing an additional 214 shares in the last quarter. Hedge funds and other institutional investors own 65.25% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on MMM. Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a research note on Saturday, March 22nd. Citigroup upped their target price 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. JPMorgan Chase & Co. lifted their price target on shares of 3M from $162.00 to $165.00 and gave the company an "overweight" rating in a report on Wednesday, January 22nd. Wells Fargo & Company upgraded 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. Finally, Royal Bank of Canada reissued an "underperform" rating and set a $96.00 price target on shares of 3M in a research note on Thursday, February 27th. 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. Based on data from MarketBeat.com, 3M presently has a consensus rating of "Moderate Buy" and a consensus target price of $149.13.

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Insider Activity at 3M

In related news, Chairman Michael F. Roman sold 45,276 shares of the company's stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $150.01, for a total transaction of $6,791,852.76. Following the transaction, the chairman now directly owns 175,718 shares of the company's stock, valued at $26,359,457.18. This represents a 20.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Theresa E. Reinseth sold 2,309 shares of the firm's stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $149.95, for a total value of $346,234.55. Following the completion of the sale, the chief accounting officer now directly owns 4,417 shares of the company's stock, valued at approximately $662,329.15. This represents a 34.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,639 shares of company stock valued at $17,163,446 over the last ninety days. 0.34% of the stock is owned by company insiders.

3M Trading Down 9.4 %

3M stock traded down $13.12 during midday trading on Friday, reaching $126.62. The stock had a trading volume of 9,608,022 shares, compared to its average volume of 4,099,389. The firm has a market cap of $68.29 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 3.30 and a beta of 1.01. 3M has a 52-week low of $90.17 and a 52-week high of $156.35. The company has a fifty day moving average of $149.05 and a 200 day moving average of $138.55. 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 (NYSE:MMM - Get Free Report) last announced its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.66 by $0.02. The firm 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%. 3M's quarterly revenue was down 25.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.42 earnings per share. On average, analysts anticipate that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th were paid a dividend of $0.73 per share. The ex-dividend date of this dividend 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 dividend yield of 2.31%. 3M's dividend payout ratio (DPR) is currently 38.68%.

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.