Windle Wealth LLC Acquires 211 Shares of 3M (NYSE:MMM)

Windle Wealth LLC lifted its holdings in shares of 3M (NYSE:MMM) by 0.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 62,080 shares of the conglomerate’s stock after purchasing an additional 211 shares during the period. 3M accounts for 4.4% of Windle Wealth LLC’s holdings, making the stock its 6th biggest holding. Windle Wealth LLC’s holdings in 3M were worth $8,014,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Financial Life Planners acquired a new position in 3M in the fourth quarter valued at $25,000. Proficio Capital Partners LLC acquired a new position in 3M in the fourth quarter valued at $26,000. FSA Wealth Management LLC acquired a new position in 3M in the third quarter valued at $27,000. Daymark Wealth Partners LLC increased its stake in 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 purchasing an additional 19,552 shares in the last quarter. Finally, ORG Partners LLC increased its stake in 3M by 44.1% in the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after purchasing an additional 98 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $96.00 price target on shares of 3M in a research note on Thursday, February 27th. 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. Weiss Ratings reissued a “hold (c+)” rating on shares of 3M in a research report on Friday, March 7th. UBS Group raised shares of 3M from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $130.00 to $184.00 in a research report on Wednesday, November 13th. Finally, Citigroup boosted their target price on shares of 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.13.

3M Trading Up 0.1 %

Shares of MMM stock opened at $147.74 on Wednesday. 3M has a 52-week low of $81.23 and a 52-week high of $156.35. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The company has a 50-day simple moving average of $145.26 and a two-hundred day simple moving average of $136.53. The company has a market capitalization of $80.21 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 3.30 and a beta of 0.97.

3M (NYSE:MMM) last released its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. The firm had revenue of $6.01 billion for 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 company’s quarterly revenue was down 25.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.42 earnings per share. Research analysts anticipate that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th will be paid a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a 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 payout ratio is presently 38.68%.

Insider Buying and Selling at 3M

In related news, insider Christian T. Goralski, Jr. sold 6,318 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The shares were 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. This represents a 55.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Victoria Clarke sold 1,750 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $154.22, for a total transaction of $269,885.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,639 shares of company stock worth $17,163,446 over the last three months. 0.34% of the stock is currently owned by insiders.

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.