Concurrent Investment Advisors LLC Buys 17,045 Shares of 3M (NYSE:MMM)

Concurrent Investment Advisors LLC boosted its stake in shares of 3M (NYSE:MMM - Free Report) by 57.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,848 shares of the conglomerate's stock after purchasing an additional 17,045 shares during the quarter. Concurrent Investment Advisors LLC's holdings in 3M were worth $6,048,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Financial Life Planners acquired a new stake in 3M during the 4th quarter worth approximately $25,000. FSA Wealth Management LLC bought a new position in 3M during the 3rd quarter worth $27,000. True Wealth Design LLC lifted 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 worth $42,000 after buying an additional 296 shares in the last quarter. ORG Partners LLC boosted its position 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 acquiring an additional 98 shares during the period. Finally, Catalyst Capital Advisors LLC grew its stake in shares of 3M by 81.5% in the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the conglomerate's stock valued at $47,000 after acquiring an additional 163 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at 3M

In other news, insider Christian T. Goralski, Jr. sold 6,318 shares of the stock in a transaction on 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 directly owns 5,024 shares in the company, valued at $750,736.32. This represents a 55.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Michael F. Roman sold 49,598 shares of the business's stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $152.30, for a total transaction of $7,553,775.40. Following the completion of the transaction, the chairman now owns 180,895 shares in the company, valued at approximately $27,550,308.50. The trade was a 21.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,639 shares of company stock worth $17,163,446 over the last three months. Company insiders own 0.34% of the company's stock.

3M Price Performance

NYSE:MMM traded down $4.21 on Friday, hitting $144.87. The company had a trading volume of 4,278,493 shares, compared to its average volume of 3,924,529. 3M has a 52 week low of $75.40 and a 52 week high of $155.00. 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 stock has a market capitalization of $78.65 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 3.32 and a beta of 0.96. The firm has a 50 day moving average of $140.32 and a two-hundred day moving average of $134.41.

3M (NYSE:MMM - Get Free Report) last announced 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 company had revenue of $6.01 billion during the quarter, compared to analysts' expectations of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. 3M's revenue was down 25.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.42 EPS. On average, research analysts anticipate that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

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

Analyst Ratings Changes

Several brokerages have weighed in on MMM. Citigroup lifted their price objective on shares of 3M from $142.00 to $152.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 22nd. UBS Group upgraded shares of 3M from a "neutral" rating to a "buy" rating and lifted their price target for the company from $130.00 to $184.00 in a research report on Wednesday, November 13th. Weiss Ratings reissued a "hold (c)" rating on shares of 3M in a research report on Wednesday. JPMorgan Chase & Co. lifted 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, Barclays upped their target price on 3M from $161.00 to $165.00 and gave the company an "overweight" rating in a research report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently 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.