Empower Advisory Group LLC Sells 2,553 Shares of 3M (NYSE:MMM)

Empower Advisory Group LLC trimmed its stake in 3M (NYSE:MMM - Free Report) by 26.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,253 shares of the conglomerate's stock after selling 2,553 shares during the period. Empower Advisory Group LLC's holdings in 3M were worth $936,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Financial Life Planners bought a new stake in 3M during the fourth quarter valued at $25,000. FSA Wealth Management LLC bought a new stake in 3M during the third quarter valued at $27,000. Daymark Wealth Partners LLC boosted its position in 3M by 9.0% during the fourth quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate's stock valued at $31,000 after acquiring an additional 19,552 shares during the last quarter. ORG Partners LLC boosted its position 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 acquiring an additional 98 shares during the last quarter. Finally, True Wealth Design LLC boosted its position 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 acquiring an additional 296 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Stock Down 2.8 %

NYSE:MMM traded down $4.21 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 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 has a market cap of $78.65 billion, a P/E ratio of 19.19, a price-to-earnings-growth ratio of 3.32 and a beta of 0.96. 3M has a 1 year low of $75.40 and a 1 year high of $155.00. The firm's fifty day simple moving average is $140.32 and its two-hundred day simple moving average is $134.41.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.02. 3M had a net margin of 15.71% and a return on equity of 100.77%. The company had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.77 billion. During the same quarter last year, the business posted $2.42 EPS. 3M's quarterly revenue was down 25.0% compared to the same quarter last year. 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. Stockholders of record on Friday, February 14th will be paid a dividend of $0.73 per share. The ex-dividend date is Friday, February 14th. 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. 3M's dividend payout ratio (DPR) is presently 38.68%.

Insider Transactions at 3M

In related news, EVP Kevin H. Rhodes sold 6,743 shares of 3M stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $149.85, for a total value of $1,010,438.55. Following the completion of the transaction, the executive vice president now directly owns 4,902 shares in the company, valued at approximately $734,564.70. The trade was a 57.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of 3M stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $149.43, for a total transaction of $944,098.74. Following the completion of the transaction, the insider now 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 sold a total of 113,639 shares of company stock worth $17,163,446 in the last quarter. Insiders own 0.34% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on MMM shares. 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 objective 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. Bank of America increased their price objective on shares of 3M from $160.00 to $175.00 and gave the stock a "buy" rating in a research report on Wednesday, January 22nd. Wells Fargo & Company raised shares of 3M from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Finally, UBS Group raised shares of 3M from a "neutral" rating to a "buy" rating and raised their price target for the company from $130.00 to $184.00 in a research report on Wednesday, November 13th. Two investment 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 data from MarketBeat.com, 3M presently has a consensus rating of "Moderate Buy" and a consensus target price of $148.87.

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.