Wayfinding Financial LLC Invests $851,000 in 3M (NYSE:MMM)

Wayfinding Financial LLC purchased a new position in shares of 3M (NYSE:MMM - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,598 shares of the conglomerate's stock, valued at approximately $851,000.

Several other institutional investors have also modified their holdings of the business. State Street Corp raised its holdings in 3M by 1.1% during the 3rd quarter. State Street Corp now owns 27,194,612 shares of the conglomerate's stock worth $3,717,503,000 after buying an additional 302,900 shares during the period. FMR LLC raised its holdings in shares of 3M by 88.7% during the third quarter. FMR LLC now owns 8,961,866 shares of the conglomerate's stock worth $1,225,087,000 after acquiring an additional 4,212,409 shares during the period. Bank of New York Mellon Corp lifted its position in 3M by 9.2% in the 4th quarter. Bank of New York Mellon Corp now owns 5,689,486 shares of the conglomerate's stock valued at $734,456,000 after acquiring an additional 479,621 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in 3M by 1.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,815,625 shares of the conglomerate's stock worth $521,596,000 after purchasing an additional 43,942 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in 3M by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,577,045 shares of the conglomerate's stock worth $461,761,000 after purchasing an additional 17,228 shares in the last quarter. Institutional investors own 65.25% of the company's stock.

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3M Stock Performance

Shares of MMM traded up $0.38 during mid-day trading on Tuesday, reaching $153.53. The company's stock had a trading volume of 4,117,823 shares, compared to its average volume of 4,016,672. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. 3M has a 1-year low of $85.62 and a 1-year high of $156.35. The business has a 50-day simple moving average of $149.05 and a two-hundred day simple moving average of $137.88. The stock has a market cap of $83.35 billion, a P/E ratio of 20.34, a PEG ratio of 3.30 and a beta of 0.97.

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

3M Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were paid a $0.73 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a yield of 1.90%. This is a positive change from 3M's previous quarterly dividend of $0.70. 3M's dividend payout ratio is 38.68%.

Insider Buying and Selling at 3M

In other 3M news, CAO Theresa E. Reinseth sold 2,309 shares of the company's stock in a transaction on Friday, January 24th. The stock was sold at an average price of $149.95, for a total value of $346,234.55. Following the transaction, the chief accounting officer now directly owns 4,417 shares of the company's stock, valued at $662,329.15. This represents a 34.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Victoria Clarke sold 1,750 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $154.22, for a total value of $269,885.00. Following the transaction, the executive vice president now owns 194 shares in the company, valued at $29,918.68. The trade was a 90.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,639 shares of company stock valued at $17,163,446 in the last three months. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on 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 reaffirmed an "underperform" rating and set a $96.00 price target on shares of 3M in a research report on Thursday, February 27th. Bank of America lifted their price objective on shares of 3M from $175.00 to $179.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Wells Fargo & Company upgraded shares of 3M from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $140.00 to $170.00 in a report on Wednesday, January 22nd. Finally, Barclays lifted their price target on shares of 3M from $161.00 to $165.00 and gave the company an "overweight" rating in a research note on Wednesday, January 22nd. Two 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. According to data from MarketBeat, 3M presently has an average rating of "Moderate Buy" and an average target price 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.