Mcdaniel Terry & Co. Acquires New Stake in 3M (NYSE:MMM)

Mcdaniel Terry & Co. bought a new position in shares of 3M (NYSE:MMM - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,652 shares of the conglomerate's stock, valued at approximately $342,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Financial Life Planners bought a new position in shares of 3M in the 4th quarter valued at $25,000. FSA Wealth Management LLC bought a new position in shares of 3M in the 3rd quarter valued at $27,000. Daymark Wealth Partners LLC lifted its stake in shares of 3M by 9.0% in the 4th 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 lifted its stake in shares of 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 acquiring an additional 98 shares during the last quarter. Finally, True Wealth Design LLC lifted its stake in shares of 3M by 2,466.7% in the 3rd 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.

3M Trading Down 2.8 %

Shares of MMM stock traded down $4.21 during mid-day trading on Friday, hitting $144.87. The company's stock had a trading volume of 4,278,493 shares, compared to its average volume of 3,924,529. The company's fifty day simple moving average is $140.32 and its 200-day simple moving average is $134.41. 3M has a 52 week low of $75.40 and a 52 week high of $155.00. 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 company has a market cap of $78.65 billion, a PE ratio of 19.19, a P/E/G ratio of 3.32 and a beta of 0.96.

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

3M Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 14th will be given a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 2.02%. This is a positive change from 3M's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, February 14th. 3M's payout ratio is presently 38.68%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MMM shares. Wells Fargo & Company upgraded 3M from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $140.00 to $170.00 in a research note on Wednesday, January 22nd. UBS Group upgraded 3M from a "neutral" rating to a "buy" rating and increased their price target for the company from $130.00 to $184.00 in a research note on Wednesday, November 13th. Citigroup increased their price objective on 3M from $142.00 to $152.00 and gave the company a "neutral" rating in a report on Wednesday, January 22nd. Royal Bank of Canada restated an "underperform" rating and issued a $96.00 price objective on shares of 3M in a report on Wednesday, January 22nd. Finally, Weiss Ratings restated a "hold (c)" rating on shares of 3M in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, 3M presently has a consensus rating of "Moderate Buy" and a consensus price target of $148.87.

Insider Activity at 3M

In related news, CAO Theresa E. Reinseth sold 2,309 shares of the business's stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $149.95, for a total value of $346,234.55. Following the completion of the sale, the chief accounting officer now directly owns 4,417 shares of the company's stock, valued at $662,329.15. The trade was a 34.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 directly owns 194 shares of the company's stock, valued at $29,918.68. This represents a 90.02 % decrease in their ownership of the stock. 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.

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.