Marks Group Wealth Management Inc Sells 1,714 Shares of 3M (NYSE:MMM)

Marks Group Wealth Management Inc cut its position in shares of 3M (NYSE:MMM - Free Report) by 24.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,199 shares of the conglomerate's stock after selling 1,714 shares during the quarter. Marks Group Wealth Management Inc's holdings in 3M were worth $671,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of MMM. Financial Life Planners purchased a new stake in shares of 3M in the 4th quarter worth about $25,000. FSA Wealth Management LLC acquired a new position in 3M during the third quarter worth about $27,000. McClarren Financial Advisors Inc. raised its holdings in shares of 3M by 118.6% in the third 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% during the 4th quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate's stock worth $31,000 after purchasing an additional 19,552 shares in the last quarter. Finally, ORG Partners LLC lifted its holdings in 3M by 44.1% in the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate's stock valued at $41,000 after purchasing an additional 98 shares in the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

3M Stock Down 0.0 %

NYSE:MMM traded down $0.07 during mid-day trading on Friday, reaching $148.65. The stock had a trading volume of 2,388,343 shares, compared to its average volume of 4,440,606. 3M has a 1-year low of $75.40 and a 1-year high of $155.00. The company has a market capitalization of $80.70 billion, a price-to-earnings ratio of 19.69, a price-to-earnings-growth ratio of 3.37 and a beta of 0.96. The stock's 50 day simple moving average is $138.80 and its two-hundred day simple moving average is $133.83. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08.

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 analysts' consensus estimates of $1.66 by $0.02. 3M had a net margin of 15.71% and a return on equity of 100.77%. The firm 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. The company's revenue was down 25.0% on a year-over-year basis. Equities analysts anticipate that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The firm 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 is an increase from 3M's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.92 annualized dividend and a yield of 1.96%. 3M's payout ratio is presently 37.09%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MMM. Barclays lifted their target price on 3M from $161.00 to $165.00 and gave the company an "overweight" rating in a report on Wednesday, January 22nd. Royal Bank of Canada restated an "underperform" rating and issued a $96.00 price target on shares of 3M in a report on Wednesday, January 22nd. Citigroup boosted their price objective on shares of 3M from $142.00 to $152.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 22nd. Bank of America raised their target price on shares of 3M from $160.00 to $175.00 and gave the company a "buy" rating in a research note on Wednesday, January 22nd. Finally, Melius raised shares of 3M from a "hold" rating to a "buy" rating in a research report on Tuesday, October 22nd. Two 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.com, 3M presently has a consensus rating of "Moderate Buy" and a consensus target price of $148.87.

Insiders Place Their Bets

In other 3M news, Chairman Michael F. Roman sold 49,598 shares of the company's stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $152.30, for a total transaction of $7,553,775.40. Following the completion of the transaction, the chairman now owns 180,895 shares of the company's stock, valued at $27,550,308.50. This represents a 21.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the company's 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 sale, the insider now owns 5,024 shares in the company, valued at $750,736.32. The trade was a 55.70 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 113,639 shares of company stock valued at $17,163,446. 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.