FCA Corp TX Reduces Holdings in 3M (NYSE:MMM)

FCA Corp TX trimmed its position in shares of 3M (NYSE:MMM - Free Report) by 40.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,155 shares of the conglomerate's stock after selling 4,874 shares during the quarter. FCA Corp TX's holdings in 3M were worth $924,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new stake in shares of 3M in the fourth quarter valued at approximately $25,000. Proficio Capital Partners LLC purchased a new position in shares of 3M during the 4th quarter worth $26,000. FSA Wealth Management LLC acquired a new position in shares of 3M during the 3rd quarter valued at about $27,000. Daymark Wealth Partners LLC grew 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 valued at $31,000 after purchasing 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 purchasing an additional 98 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on MMM. JPMorgan Chase & Co. boosted their target price on shares of 3M from $162.00 to $165.00 and gave the company an "overweight" rating in a report on Wednesday, January 22nd. Weiss Ratings reiterated a "hold (c+)" rating on shares of 3M in a research report on Saturday. Wells Fargo & Company upgraded 3M from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Bank of America increased their price target on 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. Finally, Royal Bank of Canada restated an "underperform" rating and issued a $96.00 price objective on shares of 3M in a report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $149.13.

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3M Stock Up 0.2 %

MMM stock traded up $0.38 during midday trading on Tuesday, hitting $153.53. The company's stock had a trading volume of 4,116,443 shares, compared to its average volume of 4,027,325. 3M has a 52-week low of $85.62 and a 52-week high of $156.35. The firm has a 50-day simple moving average of $148.72 and a 200-day simple moving average of $137.71. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The firm has a market capitalization of $83.35 billion, a P/E ratio of 20.34, a PEG ratio of 3.30 and a beta of 0.97.

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

3M Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were paid a $0.73 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a yield of 1.90%. This is an increase from 3M's previous quarterly dividend of $0.70. 3M's payout ratio is currently 38.68%.

Insiders Place Their Bets

In other news, 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 owns 5,024 shares in the company, valued at approximately $750,736.32. This represents a 55.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Victoria Clarke sold 1,750 shares of the business's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $154.22, for a total value of $269,885.00. Following the sale, the executive vice president now owns 194 shares of the company's stock, valued at approximately $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 worth $17,163,446 in the last 90 days. Corporate insiders own 0.34% of the company's stock.

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.