3M (NYSE:MMM) Shares Bought by Cerity Partners LLC

Cerity Partners LLC raised its stake in shares of 3M (NYSE:MMM - Free Report) by 5.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 642,728 shares of the conglomerate's stock after purchasing an additional 32,718 shares during the period. Cerity Partners LLC owned 0.12% of 3M worth $85,513,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of MMM. Financial Life Planners bought a new stake in shares of 3M in the 4th quarter worth about $25,000. Proficio Capital Partners LLC purchased a new position in shares of 3M during the fourth quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. bought a new position in shares of 3M during the fourth quarter valued at approximately $27,000. Daymark Wealth Partners LLC raised its holdings in shares of 3M by 9.0% in the fourth quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate's stock worth $31,000 after buying an additional 19,552 shares during the period. Finally, Meeder Asset Management Inc. lifted its stake in shares of 3M by 230.1% during the 4th quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate's stock worth $40,000 after acquiring an additional 214 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company's stock.

3M Price Performance

Shares of MMM stock traded down $6.74 on Thursday, reaching $131.58. 2,095,630 shares of the company were exchanged, compared to its average volume of 4,120,133. 3M has a 1 year low of $90.17 and a 1 year high of $156.35. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The business has a 50-day moving average price of $147.03 and a 200 day moving average price of $138.43. The company has a market cap of $70.97 billion, a price-to-earnings ratio of 17.48, a P/E/G ratio of 3.30 and a beta of 1.01.

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3M (NYSE:MMM - Get Free Report) last posted its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping the consensus estimate of $1.66 by $0.02. The company had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. 3M's quarterly revenue was down 25.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.42 EPS. Equities research analysts forecast 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 was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were paid a $0.73 dividend. This is an increase from 3M's previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend was Friday, February 14th. 3M's dividend payout ratio is currently 38.68%.

Insider Buying and Selling at 3M

In other 3M news, CAO Theresa E. Reinseth sold 2,309 shares of the business's stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $149.95, for a total value of $346,234.55. Following the transaction, the chief accounting officer now directly owns 4,417 shares in the company, valued at $662,329.15. The trade was a 34.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the firm's stock in a transaction on Friday, January 24th. The stock was sold at an average price of $149.43, for a total value of $944,098.74. Following the sale, the insider now directly owns 5,024 shares of the company's stock, valued at approximately $750,736.32. This trade represents a 55.70 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,639 shares of company stock worth $17,163,446. Corporate insiders own 0.34% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on MMM shares. Bank of America upped their price target on shares of 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. JPMorgan Chase & Co. lowered their price target on 3M from $165.00 to $140.00 and set an "overweight" rating for the company in a report on Tuesday. Citigroup lifted their target price on 3M from $142.00 to $152.00 and gave the company a "neutral" rating in a research report on Wednesday, January 22nd. Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a research report on Tuesday. Finally, Wells Fargo & Company upgraded 3M from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $140.00 to $170.00 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 given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $147.13.

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.