3M (NYSE:MMM) Shares Purchased by Allworth Financial LP

Allworth Financial LP boosted its stake in 3M (NYSE:MMM - Free Report) by 32.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 35,244 shares of the conglomerate's stock after buying an additional 8,658 shares during the quarter. Allworth Financial LP's holdings in 3M were worth $4,550,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MMM. Financial Life Planners acquired a new position in 3M in the 4th quarter valued at $25,000. FSA Wealth Management LLC acquired a new position in 3M in the 3rd quarter valued at $27,000. McClarren Financial Advisors Inc. raised its holdings in 3M by 118.6% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate's stock valued at $30,000 after acquiring an additional 121 shares during the last quarter. True Wealth Design LLC raised its holdings in 3M by 2,466.7% in the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate's stock valued at $42,000 after acquiring an additional 296 shares during the last quarter. Finally, ORG Partners LLC raised its holdings in 3M by 44.1% in the 4th 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 last quarter. Hedge funds and other institutional investors own 65.25% of the company's stock.

3M Stock Down 2.8 %

NYSE MMM traded down $4.21 during trading hours 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 fifty-two week low of $75.40 and a fifty-two week high of $155.00. The company has a market capitalization of $78.65 billion, a price-to-earnings ratio of 19.19, a P/E/G ratio of 3.32 and a beta of 0.96. 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 firm's 50 day moving average is $140.62 and its 200 day moving average is $134.56.

3M (NYSE:MMM - Get Free Report) last posted its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share 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 net margin of 15.71% and a return on equity of 100.77%. The firm's revenue for the quarter was down 25.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.42 EPS. Sell-side analysts anticipate that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

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

Insider Buying and Selling at 3M

In other news, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the 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 transaction, the insider now owns 5,153 shares of the company's stock, valued at approximately $774,238.25. This trade represents a 24.20 % decrease in their ownership of the stock. 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 stock was sold at an average price of $149.43, for a total transaction of $944,098.74. Following the transaction, the insider now directly owns 5,024 shares in the company, valued at $750,736.32. The trade was 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 ninety days. Insiders own 0.34% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price target on 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 upped their price objective for the stock from $140.00 to $170.00 in a report on Wednesday, January 22nd. UBS Group upgraded 3M from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $130.00 to $184.00 in a report on Wednesday, November 13th. Citigroup upped their price objective on 3M from $142.00 to $152.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. Finally, Bank of America upped their price objective on 3M from $160.00 to $175.00 and gave the stock a "buy" rating in a report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $148.87.

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.