Atria Wealth Solutions Inc. Raises Stake in 3M (NYSE:MMM)

Atria Wealth Solutions Inc. lifted its holdings in shares of 3M (NYSE:MMM - Free Report) by 9.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,955 shares of the conglomerate's stock after purchasing an additional 2,950 shares during the period. Atria Wealth Solutions Inc.'s holdings in 3M were worth $4,383,000 as of its most recent filing with the SEC.

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

3M Trading Down 2.8 %

Shares of 3M stock traded down $4.21 during trading on Friday, hitting $144.87. The stock had a trading volume of 4,278,493 shares, compared to its average volume of 3,924,529. The stock has a market cap of $78.65 billion, a PE ratio of 19.19, a PEG ratio of 3.32 and a beta of 0.96. 3M has a 12 month low of $75.40 and a 12 month high of $155.00. The firm's fifty day simple moving average is $140.32 and its 200-day simple moving average is $134.41. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08.

3M (NYSE:MMM - Get Free Report) last posted its 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. 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 last year, the firm posted $2.42 EPS. The company's revenue for the quarter was down 25.0% on a year-over-year basis. As a group, sell-side analysts expect that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend 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 38.68%.

Analyst Upgrades and Downgrades

MMM has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price objective on shares of 3M from $162.00 to $165.00 and gave the company an "overweight" rating in a research note on Wednesday, January 22nd. Barclays raised their price target 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. Bank of America raised their price target on shares of 3M from $160.00 to $175.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd. Wells Fargo & Company upgraded shares of 3M from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Finally, UBS Group raised shares of 3M from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $130.00 to $184.00 in a report on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $148.87.

Insider Activity

In other news, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the business's 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. The trade was a 24.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Victoria Clarke sold 1,750 shares of the business's stock in a transaction dated 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 valued at $17,163,446 in the last three months. 0.34% of the stock is currently owned by corporate insiders.

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.