Callan Family Office LLC Has $699,000 Stock Holdings in 3M (NYSE:MMM)

Callan Family Office LLC increased its stake in 3M (NYSE:MMM - Free Report) by 186.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,418 shares of the conglomerate's stock after buying an additional 3,528 shares during the period. Callan Family Office LLC's holdings in 3M were worth $699,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Financial Life Planners bought a new stake in shares of 3M in the fourth quarter worth $25,000. FSA Wealth Management LLC bought a new stake in 3M during the third quarter valued at $27,000. True Wealth Design LLC increased its stake in 3M by 2,466.7% during the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate's stock valued at $42,000 after purchasing an additional 296 shares during the last quarter. ORG Partners LLC increased its stake in 3M by 44.1% during the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate's stock valued at $41,000 after purchasing an additional 98 shares during the last quarter. Finally, Catalyst Capital Advisors LLC increased its stake in 3M by 81.5% during the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the conglomerate's stock valued at $47,000 after purchasing an additional 163 shares during the last quarter. Institutional investors own 65.25% of the company's stock.

Wall Street Analyst Weigh In

MMM has been the subject of several recent research reports. Wells Fargo & Company upgraded shares of 3M from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Barclays boosted their target price on shares of 3M from $161.00 to $165.00 and gave the company an "overweight" rating in a research note on Wednesday, January 22nd. Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a research report on Friday. Royal Bank of Canada restated an "underperform" rating and set a $96.00 price target on shares of 3M in a research report on Thursday, February 27th. Finally, JPMorgan Chase & Co. increased their target price on shares of 3M from $162.00 to $165.00 and gave the company an "overweight" rating in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $149.13.

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Insider Buying and Selling at 3M

In other news, EVP Kevin H. Rhodes sold 6,743 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $149.85, for a total value of $1,010,438.55. Following the completion of the sale, the executive vice president now directly owns 4,902 shares of the company's stock, valued at approximately $734,564.70. This represents a 57.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $149.43, for a total value of $944,098.74. Following the completion of the sale, the insider now directly owns 5,024 shares of the company's stock, valued at $750,736.32. This represents a 55.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,639 shares of company stock worth $17,163,446 over the last 90 days. Insiders own 0.34% of the company's stock.

3M Stock Down 0.4 %

NYSE:MMM traded down $0.59 during mid-day trading on Friday, reaching $146.36. The stock had a trading volume of 5,891,015 shares, compared to its average volume of 4,315,292. The business's 50 day moving average is $144.51 and its 200 day moving average is $136.23. 3M has a fifty-two week low of $78.14 and a fifty-two week high of $156.35. The stock has a market cap of $79.46 billion, a P/E ratio of 19.38, a PEG ratio of 3.30 and a beta of 0.97. 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 released 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. 3M had a return on equity of 100.77% and a net margin of 15.71%. The firm 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 posted $2.42 earnings per share. The firm's revenue was down 25.0% on a year-over-year basis. As a group, sell-side analysts predict that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The business also recently declared 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 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from 3M's previous quarterly dividend of $0.70. 3M's dividend payout ratio (DPR) is 38.68%.

3M 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.