3M (NYSE:MMM) Shares Acquired by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE increased its position in 3M (NYSE:MMM) by 6.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,101 shares of the conglomerate’s stock after buying an additional 641 shares during the quarter. Congress Wealth Management LLC DE’s holdings in 3M were worth $1,304,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Crowley Wealth Management Inc. acquired a new position in 3M during the fourth quarter valued at approximately $146,000. LPL Financial LLC lifted its holdings in shares of 3M by 9.1% during the 4th quarter. LPL Financial LLC now owns 804,916 shares of the conglomerate’s stock valued at $103,907,000 after acquiring an additional 67,385 shares in the last quarter. Guardian Partners Inc. purchased a new stake in 3M during the 4th quarter worth $295,000. KLP Kapitalforvaltning AS acquired a new stake in 3M in the 4th quarter valued at $44,983,000. Finally, Umpqua Bank raised its position in 3M by 22.8% in the fourth quarter. Umpqua Bank now owns 3,560 shares of the conglomerate’s stock valued at $488,000 after purchasing an additional 660 shares during the period. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Insider Buying and Selling at 3M

In other news, Chairman Michael F. Roman sold 49,598 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $152.30, for a total transaction of $7,553,775.40. Following the transaction, the chairman now directly owns 180,895 shares of the company’s stock, valued at approximately $27,550,308.50. This trade represents a 21.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Victoria Clarke sold 1,750 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was 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 of the company’s stock, 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 sold 113,639 shares of company stock valued at $17,163,446 in the last ninety days. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $96.00 target price on shares of 3M in a research report on Thursday, February 27th. Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. lifted their price objective on shares of 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Bank of America upped their target price on shares of 3M from $175.00 to $179.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of 3M in a research note on Saturday, March 22nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $149.13.

3M Trading Down 2.8 %

NYSE MMM opened at $148.48 on Friday. The firm has a market capitalization of $80.61 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 3.30 and a beta of 0.97. 3M has a one year low of $87.45 and a one year high of $156.35. The company has a 50-day simple moving average of $149.52 and a 200-day simple moving average of $138.06. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41.

3M (NYSE:MMM) last posted its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, beating the consensus estimate of $1.66 by $0.02. The company had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. The business’s revenue was down 25.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.42 earnings per share. On average, equities analysts forecast 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 was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from 3M’s previous quarterly dividend of $0.70. 3M’s dividend payout ratio (DPR) is 38.68%.

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.