Principal Securities Inc. Purchases 5,195 Shares of 3M (NYSE:MMM)

Principal Securities Inc. increased its position in shares of 3M (NYSE:MMM - Free Report) by 76.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,022 shares of the conglomerate's stock after acquiring an additional 5,195 shares during the period. Principal Securities Inc.'s holdings in 3M were worth $1,552,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of MMM. Financial Life Planners bought a new position in shares of 3M in the 4th quarter worth $25,000. FSA Wealth Management LLC bought a new position in shares of 3M in the 3rd quarter worth $27,000. Daymark Wealth Partners LLC increased its holdings 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 worth $31,000 after buying an additional 19,552 shares during the last quarter. ORG Partners LLC increased its holdings in shares of 3M by 44.1% in the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate's stock worth $41,000 after buying an additional 98 shares during the last quarter. Finally, True Wealth Design LLC increased its holdings 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 worth $42,000 after buying an additional 296 shares during the last quarter. Institutional investors own 65.25% of the company's stock.

3M Trading Down 2.8 %

MMM traded down $4.21 during trading on Friday, hitting $144.87. 4,278,493 shares of the stock traded hands, compared to its average volume of 3,924,529. The firm has a market capitalization of $78.65 billion, a P/E ratio of 19.19, a price-to-earnings-growth ratio of 3.32 and a beta of 0.96. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The firm has a 50-day moving average of $140.32 and a 200 day moving average of $134.41. 3M has a 12-month low of $75.40 and a 12-month high of $155.00.

3M (NYSE:MMM - Get Free Report) last posted 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. 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 analysts' expectations of $5.77 billion. During the same period last year, the company posted $2.42 EPS. The company's quarterly revenue was down 25.0% compared to the same quarter last year. Equities research analysts anticipate that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th will be given a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 2.02%. This is a boost from 3M's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, February 14th. 3M's dividend payout ratio (DPR) is currently 38.68%.

Analyst Ratings Changes

MMM has been the topic of a number of research analyst reports. Wells Fargo & Company raised shares of 3M from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $140.00 to $170.00 in a report on Wednesday, January 22nd. Barclays increased their price target on shares of 3M from $161.00 to $165.00 and gave the stock an "overweight" rating in a report on Wednesday, January 22nd. Citigroup upped their price objective on shares of 3M from $142.00 to $152.00 and gave the company a "neutral" rating in a research note on Wednesday, January 22nd. Royal Bank of Canada reaffirmed an "underperform" rating and issued a $96.00 price objective on shares of 3M in a research note on Wednesday, January 22nd. Finally, Bank of America upped their price objective 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. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $148.87.

Insider Transactions at 3M

In related news, CAO Theresa E. Reinseth sold 2,309 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $149.95, for a total value of $346,234.55. Following the completion of the transaction, the chief accounting officer now directly owns 4,417 shares in the company, valued at $662,329.15. This trade represents a 34.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Victoria Clarke sold 1,750 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $154.22, for a total transaction of $269,885.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,639 shares of company stock valued at $17,163,446. Company 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.