Schwarz Dygos Wheeler Investment Advisors LLC Cuts Stake in 3M (NYSE:MMM)

Schwarz Dygos Wheeler Investment Advisors LLC decreased its position in 3M (NYSE:MMM - Free Report) by 50.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,962 shares of the conglomerate's stock after selling 1,975 shares during the quarter. Schwarz Dygos Wheeler Investment Advisors LLC's holdings in 3M were worth $253,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in MMM. OFI Invest Asset Management bought a new position in shares of 3M in the fourth quarter valued at approximately $1,841,000. Amundi lifted its position in shares of 3M by 55.7% in the fourth quarter. Amundi now owns 2,511,095 shares of the conglomerate's stock worth $337,815,000 after purchasing an additional 898,244 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its position in 3M by 44.5% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 20,685 shares of the conglomerate's stock valued at $2,670,000 after purchasing an additional 6,369 shares during the last quarter. HM Payson & Co. grew its stake in shares of 3M by 10.3% in the 4th quarter. HM Payson & Co. now owns 24,140 shares of the conglomerate's stock valued at $3,116,000 after buying an additional 2,249 shares in the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. acquired a new stake in shares of 3M in the 4th quarter valued at $1,993,000. Institutional investors own 65.25% of the company's stock.

Insider Activity

In other 3M news, EVP Victoria Clarke sold 1,750 shares of the firm's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $154.22, for a total transaction of $269,885.00. Following the completion of the sale, the executive vice president now directly owns 194 shares in the company, valued at approximately $29,918.68. This trade represents a 90.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the business's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $150.25, for a total value of $247,161.25. Following the completion of the transaction, the insider now owns 5,153 shares of the company's stock, valued at $774,238.25. This represents a 24.20 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,639 shares of company stock valued at $17,163,446. Corporate insiders own 0.34% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of 3M from $162.00 to $165.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 22nd. Royal Bank of Canada reissued an "underperform" rating and issued a $96.00 target price on shares of 3M in a report on Thursday, February 27th. UBS Group upgraded shares of 3M from a "neutral" rating to a "buy" rating and boosted their price target for the company from $130.00 to $184.00 in a research report on Wednesday, November 13th. Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a research note on Friday. Finally, Bank of America boosted their target price on 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, 3M has a consensus rating of "Moderate Buy" and an average target price of $149.13.

3M Stock Performance

Shares of NYSE MMM traded up $1.41 during midday trading on Monday, reaching $147.71. The company's stock had a trading volume of 4,963,773 shares, compared to its average volume of 4,317,894. The stock has a market capitalization of $80.19 billion, a P/E ratio of 19.56, a PEG ratio of 3.30 and a beta of 0.97. 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 price of $144.89 and a 200-day moving average price of $136.41. 3M has a 12-month low of $78.14 and a 12-month high of $156.35.

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

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 14th will be issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.98%. This is a boost from 3M's previous quarterly dividend of $0.70. The ex-dividend date is Friday, February 14th. 3M's dividend payout ratio (DPR) is currently 38.68%.

3M 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.