Advisory Services Network LLC Acquires 2,646 Shares of 3M (NYSE:MMM)

Advisory Services Network LLC boosted its position in shares of 3M (NYSE:MMM - Free Report) by 18.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,828 shares of the conglomerate's stock after acquiring an additional 2,646 shares during the period. Advisory Services Network LLC's holdings in 3M were worth $2,172,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Investors Asset Management of Georgia Inc. GA ADV raised its holdings in shares of 3M by 1.3% in the fourth quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,377 shares of the conglomerate's stock worth $694,000 after buying an additional 67 shares during the period. Parkside Financial Bank & Trust increased its stake in shares of 3M by 1.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 5,153 shares of the conglomerate's stock worth $665,000 after acquiring an additional 70 shares during the period. Gilbert & Cook Inc. raised its position in 3M by 1.5% during the fourth quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate's stock valued at $659,000 after acquiring an additional 73 shares in the last quarter. Childress Capital Advisors LLC grew its position in shares of 3M by 5.1% during the 4th quarter. Childress Capital Advisors LLC now owns 1,573 shares of the conglomerate's stock valued at $203,000 after acquiring an additional 76 shares during the period. Finally, Capital Advisors Ltd. LLC increased its holdings in 3M by 5.3% in the 4th quarter. Capital Advisors Ltd. LLC now owns 1,519 shares of the conglomerate's stock worth $196,000 after acquiring an additional 77 shares in the last quarter. Hedge funds and other institutional investors own 65.25% of the company's stock.

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Analyst Ratings Changes

Several research analysts have recently commented on the company. Bank of America lifted their price target on 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. Citigroup decreased their target price on 3M from $152.00 to $142.00 and set a "neutral" rating for the company in a research note on Monday. Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a research report on Tuesday, April 8th. JPMorgan Chase & Co. lowered their price objective on 3M from $165.00 to $140.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Wells Fargo & Company raised 3M from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $140.00 to $170.00 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 MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $146.47.

3M Stock Performance

Shares of NYSE MMM traded down $1.11 during trading hours on Wednesday, reaching $134.15. The stock had a trading volume of 1,262,744 shares, compared to its average volume of 4,294,760. 3M has a twelve month low of $90.33 and a twelve month high of $156.35. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The business's fifty day moving average is $145.70 and its two-hundred day moving average is $138.36. The company has a market cap of $72.35 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 3.30 and a beta of 1.01.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings results 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 net margin of 15.71% and a return on equity of 100.77%. The business had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.77 billion. During the same quarter in the prior year, the company earned $2.42 EPS. The firm's quarterly revenue was down 25.0% on a year-over-year basis. As a group, research analysts expect that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th were given a dividend of $0.73 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 2.18%. This is a positive change from 3M's previous quarterly dividend of $0.70. 3M's dividend payout ratio (DPR) is currently 38.68%.

Insider Activity

In related news, insider Christian T. Goralski, Jr. sold 6,318 shares of the company's stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $149.43, for a total transaction of $944,098.74. Following the sale, the insider now owns 5,024 shares in the company, valued at approximately $750,736.32. This represents a 55.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of 3M stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $150.25, for a total transaction of $247,161.25. Following the completion of the transaction, the insider now directly owns 5,153 shares of the company's stock, valued at approximately $774,238.25. This trade represents a 24.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,639 shares of company stock worth $17,163,446 in the last 90 days. Corporate insiders own 0.48% of the company's stock.

About 3M

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.