Corient Private Wealth LLC Has $31.30 Million Stock Position in 3M (NYSE:MMM)

Corient Private Wealth LLC trimmed its position in 3M (NYSE:MMM - Free Report) by 4.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 244,585 shares of the conglomerate's stock after selling 12,264 shares during the quarter. Corient Private Wealth LLC's holdings in 3M were worth $31,301,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. FMR LLC boosted its holdings in 3M by 88.7% during the third quarter. FMR LLC now owns 8,961,866 shares of the conglomerate's stock valued at $1,225,087,000 after acquiring an additional 4,212,409 shares during the period. Amundi lifted its position in shares of 3M by 55.7% during the 4th quarter. Amundi now owns 2,511,095 shares of the conglomerate's stock worth $337,815,000 after purchasing an additional 898,244 shares during the last quarter. Raymond James Financial Inc. bought a new stake in 3M during the 4th quarter valued at approximately $103,788,000. Jennison Associates LLC acquired a new stake in 3M in the 3rd quarter valued at approximately $82,208,000. Finally, Parsifal Capital Management LP increased its position in 3M by 179.0% in the 3rd quarter. Parsifal Capital Management LP now owns 820,094 shares of the conglomerate's stock worth $112,107,000 after buying an additional 526,194 shares during the period. 65.25% of the stock is owned by institutional investors.

Insider Activity at 3M

In related news, insider Christian T. Goralski, Jr. sold 6,318 shares of the company's stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $149.43, for a total transaction of $944,098.74. Following the transaction, the insider now owns 5,024 shares in the company, valued at $750,736.32. This represents a 55.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Victoria Clarke sold 1,750 shares of the firm'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 completion of the sale, the executive vice president now owns 194 shares of the company's stock, valued at $29,918.68. The trade was a 90.02 % 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 in the last three months. Corporate insiders own 0.34% of the company's stock.

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3M Price Performance

Shares of NYSE MMM traded down $0.92 during midday trading on Friday, reaching $150.35. 5,538,486 shares of the company traded hands, compared to its average volume of 4,052,191. 3M has a 12 month low of $85.62 and a 12 month 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 stock's 50-day simple moving average is $147.96 and its 200-day simple moving average is $137.36. The firm has a market cap of $81.63 billion, a PE ratio of 19.91, a PEG ratio of 3.30 and a beta of 0.97.

3M (NYSE:MMM - Get Free Report) last announced its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.02. The firm had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The firm's quarterly revenue was down 25.0% on a year-over-year basis. During the same period last year, the firm posted $2.42 EPS. As a group, equities analysts anticipate that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were given a dividend of $0.73 per share. The ex-dividend date was Friday, February 14th. This is a positive change from 3M's previous quarterly dividend of $0.70. This represents a $2.92 dividend on an annualized basis and a yield of 1.94%. 3M's dividend payout ratio is 38.68%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MMM. Wells Fargo & Company upgraded shares of 3M from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $140.00 to $170.00 in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. raised their price target on shares of 3M from $162.00 to $165.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 22nd. Barclays upped their price objective on shares of 3M from $161.00 to $165.00 and gave the company an "overweight" rating in a research report on Wednesday, January 22nd. Citigroup lifted their target price on 3M from $142.00 to $152.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 22nd. Finally, Royal Bank of Canada reaffirmed an "underperform" rating and issued a $96.00 price target on shares of 3M in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $149.13.

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.