Poinciana Advisors Group LLC Takes $349,000 Position in 3M (NYSE:MMM)

Poinciana Advisors Group LLC bought a new position in shares of 3M (NYSE:MMM - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,705 shares of the conglomerate's stock, valued at approximately $349,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Financial Life Planners bought a new stake in 3M in the fourth quarter valued at approximately $25,000. Proficio Capital Partners LLC bought a new position in shares of 3M during the fourth quarter worth approximately $26,000. FSA Wealth Management LLC bought a new position in shares of 3M during the third quarter worth approximately $27,000. Daymark Wealth Partners LLC increased its stake in shares of 3M by 9.0% during the fourth 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 during the period. Finally, ORG Partners LLC increased its stake in shares of 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 period. Institutional investors own 65.25% of the company's stock.

Insider Buying and Selling

In other news, Chairman Michael F. Roman sold 45,276 shares of 3M stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $150.01, for a total value of $6,791,852.76. Following the completion of the transaction, the chairman now directly owns 175,718 shares of the company's stock, valued at approximately $26,359,457.18. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of 3M 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,639 shares of company stock valued at $17,163,446 in the last three months. Insiders own 0.34% of the company's stock.

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3M Price Performance

Shares of MMM traded up $2.28 during trading hours on Wednesday, reaching $153.20. The stock had a trading volume of 2,344,093 shares, compared to its average volume of 4,081,654. 3M has a 12 month low of $85.62 and a 12 month high of $156.35. The stock has a market capitalization of $83.17 billion, a PE ratio of 20.29, a PEG ratio of 3.30 and a beta of 0.97. 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's 50-day moving average is $147.25 and its two-hundred day moving average is $137.15.

3M (NYSE:MMM - Get Free Report) last announced its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.02. The business had revenue of $6.01 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company earned $2.42 EPS. Research analysts expect that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were given a dividend of $0.73 per share. This is a positive change from 3M's previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend was Friday, February 14th. 3M's dividend payout ratio (DPR) is currently 38.68%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MMM shares. Bank of America increased their target price on 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Barclays increased their target price on 3M from $161.00 to $165.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. increased their target price on 3M from $162.00 to $165.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 22nd. Citigroup increased their price target on 3M from $142.00 to $152.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 22nd. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a research report on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target 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.