3M (NYSE:MMM) Shares Sold by Marino Stram & Associates LLC

Marino Stram & Associates LLC decreased its position in 3M (NYSE:MMM) by 6.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,043 shares of the conglomerate’s stock after selling 132 shares during the quarter. Marino Stram & Associates LLC’s holdings in 3M were worth $264,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. FSA Wealth Management LLC acquired a new position in shares of 3M in the 3rd quarter worth approximately $27,000. Daymark Wealth Partners LLC boosted its position in 3M by 8.6% during the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 17,211 shares during the period. McClarren Financial Advisors Inc. boosted its position in 3M by 118.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 121 shares during the period. ORG Partners LLC boosted its position in 3M by 44.1% during the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after purchasing an additional 98 shares during the period. Finally, True Wealth Design LLC boosted its position in 3M by 2,466.7% during the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock valued at $42,000 after purchasing an additional 296 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on MMM shares. Mizuho boosted their price objective on 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Weiss Ratings restated a “hold (c)” rating on shares of 3M in a research report on Saturday, January 18th. UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $130.00 to $184.00 in a research report on Wednesday, November 13th. Bank of America lifted their target price on 3M from $160.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Wells Fargo & Company raised 3M from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $140.00 to $170.00 in a research note on Wednesday. Two investment 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’s stock. According to MarketBeat.com, 3M presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.87.

3M Stock Up 1.5 %

MMM opened at $149.14 on Thursday. 3M has a one year low of $75.40 and a one year high of $152.08. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43. The stock’s fifty day moving average is $131.73 and its 200-day moving average is $128.53. The company has a market capitalization of $81.21 billion, a PE ratio of 19.75, a P/E/G ratio of 2.42 and a beta of 0.95.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. The company had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5,770,390 billion. 3M had a return on equity of 97.19% and a net margin of 15.71%. The company’s quarterly revenue was down 25.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.42 EPS. On average, equities analysts predict that 3M will post 7.66 EPS for the current fiscal year.

3M Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date was Friday, November 15th. 3M’s dividend payout ratio (DPR) is presently 37.09%.

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.