Michael A. Dubis Financial Planning LLC Buys Shares of 1,868 3M (NYSE:MMM)

Michael A. Dubis Financial Planning LLC purchased a new stake in 3M (NYSE:MMM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,868 shares of the conglomerate's stock, valued at approximately $241,000.

Several other institutional investors have also recently bought and sold shares of MMM. State Street Corp raised its holdings in shares of 3M by 1.1% in the 3rd quarter. State Street Corp now owns 27,194,612 shares of the conglomerate's stock worth $3,717,503,000 after acquiring an additional 302,900 shares during the last quarter. Bank of New York Mellon Corp raised its position in 3M by 9.2% in the 4th quarter. Bank of New York Mellon Corp now owns 5,689,486 shares of the conglomerate's stock valued at $734,456,000 after buying an additional 479,621 shares during the last quarter. Norges Bank purchased a new stake in shares of 3M during the 4th quarter valued at $636,767,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in 3M by 1.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,815,625 shares of the conglomerate's stock valued at $521,596,000 after acquiring an additional 43,942 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in 3M by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,577,045 shares of the conglomerate's stock worth $461,761,000 after purchasing an additional 17,228 shares during the period. Institutional investors and hedge funds own 65.25% of the company's stock.

Insider Transactions at 3M

In other news, EVP Kevin H. Rhodes sold 6,743 shares of the business's stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $149.85, for a total value of $1,010,438.55. Following the sale, the executive vice president now directly owns 4,902 shares of the company's stock, valued at $734,564.70. The trade was a 57.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the firm's stock in a transaction that occurred on Friday, January 24th. The shares were 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 of the company's stock, valued at approximately $750,736.32. This trade represents a 55.70 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,639 shares of company stock valued at $17,163,446. Corporate insiders own 0.34% of the company's stock.

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3M Trading Up 0.4 %

Shares of 3M stock traded up $0.61 during trading on Tuesday, reaching $147.47. 1,557,495 shares of the stock were exchanged, compared to its average volume of 4,125,025. 3M has a 1 year low of $88.23 and a 1 year high of $156.35. 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 stock's fifty day moving average is $149.72 and its 200 day moving average is $138.39. The firm has a market cap of $79.53 billion, a price-to-earnings ratio of 19.51, a price-to-earnings-growth ratio of 3.30 and a beta of 0.97.

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 analysts' consensus estimates of $1.66 by $0.02. The business had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The company's quarterly revenue was down 25.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.42 EPS. 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 was paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th were issued a dividend of $0.73 per share. This is an increase from 3M's previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.98%. 3M's dividend payout ratio is 38.68%.

Analyst Ratings Changes

Several research analysts recently commented on MMM shares. Citigroup raised their price objective on shares of 3M from $142.00 to $152.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. Royal Bank of Canada reaffirmed an "underperform" rating and set a $96.00 price objective on shares of 3M in a research note on Thursday, February 27th. Wells Fargo & Company raised shares of 3M from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $140.00 to $170.00 in a report on Wednesday, January 22nd. Bank of America lifted their price target on 3M from $175.00 to $179.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. Finally, Barclays lifted their target price on shares of 3M from $161.00 to $165.00 and gave the company an "overweight" rating 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 issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $149.13.

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.