Braun Stacey Associates Inc. Buys 22,203 Shares of 3M (NYSE:MMM)

Braun Stacey Associates Inc. boosted its position in 3M (NYSE:MMM - Free Report) by 18.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 142,596 shares of the conglomerate's stock after acquiring an additional 22,203 shares during the period. Braun Stacey Associates Inc.'s holdings in 3M were worth $18,408,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Financial Life Planners bought a new stake in shares of 3M during the fourth quarter worth approximately $25,000. FSA Wealth Management LLC acquired a new stake in 3M during the 3rd quarter worth $27,000. McClarren Financial Advisors Inc. boosted its stake in 3M by 118.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate's stock worth $30,000 after acquiring an additional 121 shares during the last quarter. Daymark Wealth Partners LLC grew its holdings in shares of 3M by 9.0% in the 4th quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate's stock valued at $31,000 after buying an additional 19,552 shares during the period. Finally, ORG Partners LLC grew its stake in 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 acquiring an additional 98 shares during the period. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Stock Performance

Shares of MMM stock traded up $1.12 on Wednesday, hitting $150.11. The company's stock had a trading volume of 3,216,336 shares, compared to its average volume of 3,966,356. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The company has a market capitalization of $81.49 billion, a PE ratio of 19.88, a PEG ratio of 3.29 and a beta of 0.96. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $155.00. The stock's 50 day moving average is $139.53 and its 200-day moving average is $134.20.

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

3M Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th will be paid a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.95%. This is a boost from 3M's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, February 14th. 3M's dividend payout ratio is presently 38.68%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on MMM shares. JPMorgan Chase & Co. increased their target price on 3M from $162.00 to $165.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 22nd. Bank of America raised their price objective on shares of 3M from $160.00 to $175.00 and gave the stock a "buy" rating in a report on Wednesday, January 22nd. Barclays upped their target price on shares of 3M from $161.00 to $165.00 and gave the stock an "overweight" rating in a research note 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 note on Wednesday, January 22nd. Finally, Wells Fargo & Company raised 3M from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $148.87.

Insiders Place Their Bets

In other 3M 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 completion of the sale, the executive vice president now directly owns 194 shares of the company's stock, valued at approximately $29,918.68. The trade was a 90.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $149.43, for a total transaction of $944,098.74. Following the completion of the sale, the insider now owns 5,024 shares of the company's stock, valued at approximately $750,736.32. This trade represents a 55.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,639 shares of company stock valued at $17,163,446 in the last 90 days. Corporate insiders own 0.38% of the company's stock.

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.