Sanctuary Advisors LLC Has $8.96 Million Stock Position in 3M (NYSE:MMM)

Sanctuary Advisors LLC boosted its holdings in shares of 3M (NYSE:MMM - Free Report) by 5.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,397 shares of the conglomerate's stock after buying an additional 3,850 shares during the period. Sanctuary Advisors LLC's holdings in 3M were worth $8,958,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Financial Life Planners bought a new position in 3M during the fourth quarter worth $25,000. FSA Wealth Management LLC acquired a new stake in 3M in the third quarter worth $27,000. True Wealth Design LLC raised its holdings in 3M by 2,466.7% in the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate's stock worth $42,000 after purchasing an additional 296 shares during the period. ORG Partners LLC raised its holdings 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 acquiring an additional 98 shares during the period. Finally, Catalyst Capital Advisors LLC raised its holdings in shares of 3M by 81.5% during the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the conglomerate's stock worth $47,000 after acquiring an additional 163 shares during the period. 65.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. 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. Weiss Ratings reaffirmed a "hold (c)" rating on shares of 3M in a research report on Wednesday. Royal Bank of Canada reaffirmed an "underperform" rating and issued a $96.00 target price on shares of 3M in a research report on Wednesday, January 22nd. Barclays raised 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. Finally, Bank of America lifted their price objective on shares of 3M from $160.00 to $175.00 and gave the company a "buy" rating in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $148.87.

3M Stock Performance

3M stock traded down $4.21 during midday trading on Friday, hitting $144.87. The company's stock had a trading volume of 4,278,493 shares, compared to its average volume of 3,924,529. 3M has a 1-year low of $75.40 and a 1-year high of $155.00. 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 company has a 50-day moving average price of $140.32 and a two-hundred day moving average price of $134.41. The company has a market cap of $78.65 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 3.32 and a beta of 0.96.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share 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 analysts' expectations of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The business's revenue was down 25.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.42 EPS. As a group, sell-side analysts predict that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The company 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. The ex-dividend date is Friday, February 14th. This is a boost from 3M's previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a dividend yield of 2.02%. 3M's payout ratio is presently 38.68%.

Insider Activity

In other news, insider Christian T. Goralski, Jr. sold 6,318 shares of the business's stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $149.43, for a total transaction of $944,098.74. Following the sale, the insider now directly owns 5,024 shares in the company, valued at approximately $750,736.32. The trade was a 55.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Theresa E. Reinseth sold 2,309 shares of the business's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $149.95, for a total transaction of $346,234.55. Following the sale, the chief accounting officer now directly owns 4,417 shares in the company, valued at $662,329.15. The trade was a 34.33 % 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 worth $17,163,446. 0.34% of the stock is currently owned by corporate insiders.

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.