Empowered Funds LLC Acquires 2,599 Shares of 3M (NYSE:MMM)

Empowered Funds LLC increased its stake in 3M (NYSE:MMM - Free Report) by 4.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,389 shares of the conglomerate's stock after acquiring an additional 2,599 shares during the period. Empowered Funds LLC's holdings in 3M were worth $7,150,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of MMM. Financial Life Planners acquired a new position in 3M during the fourth quarter valued at $25,000. FSA Wealth Management LLC acquired a new position in 3M during the third quarter valued at approximately $27,000. McClarren Financial Advisors Inc. lifted its position in 3M by 118.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate's stock worth $30,000 after acquiring an additional 121 shares during the last quarter. Daymark Wealth Partners LLC increased its position 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 buying an additional 19,552 shares during the period. Finally, ORG Partners LLC increased 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. 65.25% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at 3M

In related news, EVP Victoria Clarke sold 1,750 shares of the firm's stock in a transaction dated Friday, January 31st. The stock was 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 directly owns 194 shares of the company's stock, valued at approximately $29,918.68. This trade represents a 90.02 % decrease in their position. The sale was disclosed in a document filed 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 dated Friday, January 24th. The stock was sold at an average price of $149.43, for a total value of $944,098.74. Following the transaction, the insider now directly owns 5,024 shares in the company, valued at approximately $750,736.32. The trade was a 55.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,639 shares of company stock valued at $17,163,446 in the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

3M Trading Up 0.2 %

Shares of MMM stock traded up $0.37 during trading hours on Tuesday, reaching $150.06. 2,187,693 shares of the stock were exchanged, compared to its average volume of 4,238,418. 3M has a 12-month low of $75.40 and a 12-month high of $155.00. 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 $81.47 billion, a price-to-earnings ratio of 19.88, a price-to-earnings-growth ratio of 3.37 and a beta of 0.96. The company's 50-day moving average price is $137.44 and its 200-day moving average price is $133.25.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. 3M's revenue was down 25.0% compared to the same quarter last year. During the same period last year, the company posted $2.42 earnings per share. As a group, equities analysts anticipate that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th will be given a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from 3M's previous quarterly dividend of $0.70. 3M's dividend payout ratio is currently 37.09%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased 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. Bank of America boosted their target price on 3M from $160.00 to $175.00 and gave the stock a "buy" rating in a research report on Wednesday, January 22nd. Weiss Ratings restated a "hold (c)" rating on shares of 3M in a research report on Saturday, February 1st. Wells Fargo & Company raised shares of 3M from an "equal weight" rating to an "overweight" rating and lifted their price target 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 research report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.