RWA Wealth Partners LLC Has $16.50 Million Stake in 3M (NYSE:MMM)

RWA Wealth Partners LLC lessened its holdings in shares of 3M (NYSE:MMM - Free Report) by 4.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 127,840 shares of the conglomerate's stock after selling 5,838 shares during the period. RWA Wealth Partners LLC's holdings in 3M were worth $16,503,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Financial Life Planners acquired a new position in shares of 3M during the 4th quarter valued at $25,000. Proficio Capital Partners LLC acquired a new stake in shares of 3M in the fourth quarter worth $26,000. FSA Wealth Management LLC acquired a new position in shares of 3M in the 3rd quarter valued at about $27,000. Daymark Wealth Partners LLC increased its stake in 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 buying an additional 19,552 shares during the period. Finally, ORG Partners LLC increased its stake in shares of 3M by 44.1% in the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate's stock worth $41,000 after acquiring an additional 98 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Stock Performance

NYSE:MMM traded up $0.88 during trading hours on Tuesday, hitting $147.74. 3,483,256 shares of the company traded hands, compared to its average volume of 4,132,212. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. The stock has a market capitalization of $79.68 billion, a price-to-earnings ratio of 19.57, a P/E/G ratio of 3.30 and a beta of 0.97. The firm has a 50-day moving average of $149.72 and a 200 day moving average of $138.39. 3M has a twelve month low of $88.23 and a twelve month high of $156.35.

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3M (NYSE:MMM - Get Free Report) last released its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.02. The business had revenue of $6.01 billion during the quarter, compared to analysts' expectations of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The firm's revenue was down 25.0% on a year-over-year basis. During the same quarter last year, the company earned $2.42 earnings per share. On average, analysts forecast that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were paid a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.98%. This is a positive change from 3M's previous quarterly dividend of $0.70. The ex-dividend date was Friday, February 14th. 3M's dividend payout ratio is presently 38.68%.

Insider Buying and Selling

In other 3M news, insider Christian T. Goralski, Jr. sold 6,318 shares of the firm's stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $149.43, for a total transaction of $944,098.74. Following the completion of the transaction, the insider now owns 5,024 shares in the company, valued at $750,736.32. This trade represents a 55.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kevin H. Rhodes sold 6,743 shares of the company's stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $149.85, for a total value of $1,010,438.55. Following the completion of the sale, the executive vice president now owns 4,902 shares in the company, valued at approximately $734,564.70. This represents a 57.90 % 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 over the last ninety days. 0.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Barclays increased their price objective on 3M from $161.00 to $165.00 and gave the stock an "overweight" rating in a report on Wednesday, January 22nd. Wells Fargo & Company upgraded shares of 3M from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $140.00 to $170.00 in a report on Wednesday, January 22nd. Bank of America upped their price objective on shares of 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a report on Saturday, March 22nd. Finally, Citigroup upped their price target on 3M from $142.00 to $152.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 22nd. Two investment 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 data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus 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.