SageView Advisory Group LLC Takes Position in 3M (NYSE:MMM)

SageView Advisory Group LLC purchased a new stake in 3M (NYSE:MMM - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,176 shares of the conglomerate's stock, valued at approximately $410,000.

Other large investors have also recently bought and sold shares of the company. Financial Life Planners bought a new position in 3M during the fourth quarter worth about $25,000. Proficio Capital Partners LLC acquired a new position in shares of 3M during the 4th quarter worth approximately $26,000. Hazlett Burt & Watson Inc. bought a new position in shares of 3M during the fourth quarter worth approximately $27,000. Daymark Wealth Partners LLC raised its position in shares of 3M by 9.0% in the fourth 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 in the last quarter. Finally, Meeder Asset Management Inc. boosted its stake in shares of 3M by 230.1% in the fourth quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate's stock valued at $40,000 after buying an additional 214 shares during the period. 65.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on MMM shares. Citigroup dropped their price objective on 3M from $152.00 to $142.00 and set a "neutral" rating for the company in a report on Monday, April 14th. JPMorgan Chase & Co. reduced their price objective on shares of 3M from $165.00 to $140.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Royal Bank of Canada restated an "underperform" rating and issued a $96.00 target price on shares of 3M in a research report on Thursday, February 27th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a report on Tuesday, April 8th. Finally, Wells Fargo & Company raised shares of 3M from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, 3M has a consensus rating of "Moderate Buy" and a consensus price target of $146.47.

Insider Activity

In other 3M news, Chairman Michael F. Roman sold 49,598 shares of the stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $152.30, for a total transaction of $7,553,775.40. Following the completion of the sale, the chairman now directly owns 180,895 shares in the company, valued at approximately $27,550,308.50. This trade represents a 21.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Victoria Clarke sold 1,750 shares of the business's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $154.22, for a total value of $269,885.00. Following the completion of the transaction, the executive vice president now directly owns 194 shares in the company, 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. In the last three months, insiders have sold 113,639 shares of company stock valued at $17,163,446. 0.48% of the stock is currently owned by insiders.

3M Trading Down 0.2 %

NYSE MMM traded down $0.30 during trading hours on Friday, reaching $130.16. The company's stock had a trading volume of 4,951,917 shares, compared to its average volume of 4,151,045. The firm has a fifty day simple moving average of $144.53 and a 200-day simple moving average of $138.22. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. 3M has a 52 week low of $90.65 and a 52 week high of $156.35. The stock has a market cap of $70.20 billion, a P/E ratio of 17.24, a P/E/G ratio of 3.30 and a beta of 1.01.

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. Equities analysts forecast that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th were given a $0.73 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 2.24%. This is an increase from 3M's previous quarterly dividend of $0.70. 3M's payout ratio is 38.68%.

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.