1,917 Shares in 3M (NYSE:MMM) Purchased by Centerpoint Advisory Group

Centerpoint Advisory Group bought a new stake in shares of 3M (NYSE:MMM - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,917 shares of the conglomerate's stock, valued at approximately $247,000.

A number of other hedge funds have also recently modified their holdings of MMM. Financial Life Planners acquired a new stake in shares of 3M during the 4th quarter valued at about $25,000. FSA Wealth Management LLC purchased a new position in shares of 3M during the 3rd quarter valued at approximately $27,000. McClarren Financial Advisors Inc. grew its stake 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 period. Daymark Wealth Partners LLC increased its holdings in 3M by 9.0% in the 4th quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate's stock worth $31,000 after acquiring an additional 19,552 shares in the last quarter. Finally, ORG Partners LLC raised its position in 3M by 44.1% during the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate's stock worth $41,000 after acquiring an additional 98 shares during the period. Hedge funds and other institutional investors own 65.25% of the company's stock.

Insider Transactions at 3M

In other news, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was 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 in the company, valued at approximately $774,238.25. This represents a 24.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Theresa E. Reinseth sold 2,309 shares of the firm's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $149.95, for a total transaction of $346,234.55. Following the sale, the chief accounting officer now directly owns 4,417 shares of the company's stock, valued at $662,329.15. The trade was a 34.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,639 shares of company stock valued at $17,163,446 over the last quarter. Company insiders own 0.38% of the company's stock.

3M Trading Up 0.7 %

Shares of 3M stock traded up $1.12 during trading hours on Wednesday, reaching $150.11. 3,216,336 shares of the company's stock were exchanged, compared to its average volume of 3,966,356. 3M has a 52-week low of $75.40 and a 52-week high of $155.00. The company has a fifty day moving average of $139.53 and a 200-day moving average of $134.20. 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 firm has a market capitalization of $81.49 billion, a price-to-earnings ratio of 19.88, a price-to-earnings-growth ratio of 3.29 and a beta of 0.96.

3M (NYSE:MMM - Get Free Report) last issued its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (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 business had revenue of $6.01 billion during the quarter, compared to analysts' expectations of $5.77 billion. During the same quarter in the previous year, the business earned $2.42 EPS. The company's revenue for the quarter was down 25.0% on a year-over-year basis. Sell-side analysts forecast that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th will be given a $0.73 dividend. This is an increase from 3M's previous quarterly dividend of $0.70. The ex-dividend date is Friday, February 14th. This represents a $2.92 annualized dividend and a dividend yield of 1.95%. 3M's dividend payout ratio is presently 38.68%.

Wall Street Analysts Forecast Growth

MMM has been the subject of a number of research analyst reports. Bank of America increased their target price on 3M from $160.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. Citigroup increased their price objective on shares of 3M from $142.00 to $152.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. increased their price target on 3M from $162.00 to $165.00 and gave the company an "overweight" rating in a research report on Wednesday, January 22nd. Wells Fargo & Company upgraded shares of 3M from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Finally, Royal Bank of Canada reaffirmed an "underperform" rating and set a $96.00 price target on shares of 3M in a report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, 3M currently has a consensus rating of "Moderate Buy" and an average 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.