Sigma Planning Corp Sells 2,330 Shares of 3M (NYSE:MMM)

Sigma Planning Corp lowered its position in shares of 3M (NYSE:MMM - Free Report) by 11.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 17,401 shares of the conglomerate's stock after selling 2,330 shares during the period. Sigma Planning Corp's holdings in 3M were worth $2,246,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Financial Life Planners bought a new position in shares of 3M in the fourth quarter worth $25,000. FSA Wealth Management LLC bought a new position in 3M in the 3rd quarter valued at about $27,000. Daymark Wealth Partners LLC increased its stake in 3M by 9.0% during 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. ORG Partners LLC raised its position in shares of 3M by 44.1% during the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate's stock worth $41,000 after buying an additional 98 shares in the last quarter. Finally, True Wealth Design LLC lifted its stake in shares of 3M by 2,466.7% in the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate's stock worth $42,000 after acquiring an additional 296 shares during the period. Institutional investors and hedge funds own 65.25% of the company's stock.

Insiders Place Their Bets

In related news, Chairman Michael F. Roman sold 49,598 shares of the business's 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 completion of the sale, the chairman now 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 position. The sale was disclosed in a filing with the SEC, which can be accessed 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 Ratings Changes

A number of research firms recently commented on MMM. Bank of America raised their price objective on shares of 3M from $160.00 to $175.00 and gave the company a "buy" rating in a research note on Wednesday, January 22nd. Weiss Ratings reiterated a "hold (c)" rating on shares of 3M in a research report on Wednesday, February 19th. Wells Fargo & Company upgraded 3M from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $140.00 to $170.00 in a report on Wednesday, January 22nd. 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. Finally, Citigroup upped their price target on shares of 3M from $142.00 to $152.00 and gave the company a "neutral" rating in a report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, 3M has a consensus rating of "Moderate Buy" and a consensus target price of $148.87.

3M Stock Up 0.3 %

Shares of 3M stock traded up $0.44 during midday trading on Monday, hitting $145.42. The company's stock had a trading volume of 3,444,628 shares, compared to its average volume of 3,910,820. 3M has a 1-year low of $75.40 and a 1-year high of $155.00. 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 market capitalization of $78.95 billion, a P/E ratio of 19.26, a PEG ratio of 3.30 and a beta of 0.96. The stock has a 50-day simple moving average of $140.62 and a 200-day simple moving average of $134.71.

3M (NYSE:MMM - Get Free Report) last announced its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping 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%. The business's quarterly revenue was down 25.0% compared to the same quarter last year. During the same period last year, the company posted $2.42 EPS. As a group, sell-side analysts expect that 3M will post 7.8 earnings per share for the current 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 2.01%. The ex-dividend date of this dividend 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%.

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.