3M (MMM) Shares Bought by WealthPLAN Partners LLC

WealthPLAN Partners LLC boosted its position in 3M (NYSE:MMM) by 11.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,435 shares of the conglomerate’s stock after purchasing an additional 743 shares during the period. WealthPLAN Partners LLC’s holdings in 3M were worth $1,750,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Lenox Wealth Advisors Inc. grew its holdings in 3M by 16,300.0% during the 4th quarter. Lenox Wealth Advisors Inc. now owns 492 shares of the conglomerate’s stock valued at $116,000 after buying an additional 489 shares during the last quarter. Horan Capital Management acquired a new stake in 3M during the 4th quarter valued at $123,000. Virtue Capital Management LLC acquired a new stake in 3M during the 4th quarter valued at $127,000. Sawyer & Company Inc acquired a new stake in 3M during the 4th quarter valued at $138,000. Finally, Field & Main Bank acquired a new stake in 3M during the 4th quarter valued at $140,000. 66.88% of the stock is owned by hedge funds and other institutional investors.

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MMM stock opened at $218.67 on Friday. 3M has a 52-week low of $188.62 and a 52-week high of $259.77. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.33 and a current ratio of 1.86. The firm has a market cap of $128,824.52, a PE ratio of 23.85, a price-to-earnings-growth ratio of 2.01 and a beta of 1.14.

3M (NYSE:MMM) last posted its quarterly earnings data on Thursday, January 25th. The conglomerate reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.07. The business had revenue of $7.99 billion for the quarter, compared to analysts’ expectations of $7.85 billion. 3M had a return on equity of 48.34% and a net margin of 15.35%. The business’s revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.88 earnings per share. equities research analysts predict that 3M will post 10.57 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, March 12th. Investors of record on Friday, February 16th were given a $1.36 dividend. This is a positive change from 3M’s previous quarterly dividend of $0.01. This represents a $5.44 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend was Thursday, February 15th. 3M’s dividend payout ratio (DPR) is 59.32%.

A number of equities research analysts have commented on the company. Zacks Investment Research upgraded 3M from a “hold” rating to a “buy” rating and set a $290.00 target price on the stock in a report on Tuesday, January 30th. Royal Bank of Canada reiterated a “hold” rating and set a $254.00 target price on shares of 3M in a report on Thursday, January 25th. JPMorgan Chase reiterated an “underweight” rating and set a $221.00 target price (up previously from $208.00) on shares of 3M in a report on Thursday, January 18th. UBS assumed coverage on 3M in a report on Tuesday, January 23rd. They set a “neutral” rating and a $262.00 target price on the stock. Finally, Hilliard Lyons upgraded 3M from a “neutral” rating to a “buy” rating and set a $285.00 target price on the stock in a report on Wednesday, January 24th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. 3M presently has a consensus rating of “Hold” and a consensus price target of $253.22.

In related news, VP Ippocratis Vrohidis sold 225 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $249.68, for a total value of $56,178.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Frank R. Jr. Little sold 3,133 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $236.85, for a total value of $742,051.05. The disclosure for this sale can be found here. Insiders sold a total of 52,806 shares of company stock worth $13,162,628 over the last ninety days. Corporate insiders own 0.58% of the company’s stock.

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3M Company Profile

3M Company operates as a diversified technology company worldwide. The company's Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; purification products; closure systems for personal hygiene products; acoustic systems products; automotive components; and abrasion-resistant films, and paint finishing and detailing products.

Institutional Ownership by Quarter for 3M (NYSE:MMM)

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