Tyche Wealth Partners LLC Has $586,000 Stock Holdings in 3M (NYSE:MMM)

Tyche Wealth Partners LLC lowered its stake in 3M (NYSE:MMM) by 3.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 4,539 shares of the conglomerate’s stock after selling 149 shares during the period. Tyche Wealth Partners LLC’s holdings in 3M were worth $586,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in MMM. Choreo LLC raised its stake in 3M by 0.7% in the 4th quarter. Choreo LLC now owns 70,444 shares of the conglomerate’s stock worth $9,094,000 after purchasing an additional 513 shares in the last quarter. Massachusetts Wealth Management raised its position in shares of 3M by 1.9% in the fourth quarter. Massachusetts Wealth Management now owns 14,974 shares of the conglomerate’s stock valued at $1,933,000 after buying an additional 275 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in 3M by 38.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 118,288 shares of the conglomerate’s stock worth $15,330,000 after acquiring an additional 32,709 shares during the period. James J. Burns & Company LLC acquired a new position in 3M in the 4th quarter valued at $1,235,000. Finally, Stephens Consulting LLC lifted its position in shares of 3M by 151.3% during the 4th quarter. Stephens Consulting LLC now owns 1,495 shares of the conglomerate’s stock valued at $193,000 after acquiring an additional 900 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Theresa E. Reinseth sold 2,309 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 4,417 shares in the company, valued at approximately $662,329.15. This represents a 34.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 completion of the sale, the executive vice president now owns 194 shares in the company, valued at approximately $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 worth $17,163,446 in the last three months. 0.38% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MMM shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of 3M in a research report on Saturday, February 1st. Citigroup raised their target price on 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Mizuho raised their price objective on 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Royal Bank of Canada reiterated an “underperform” rating and issued a $96.00 price objective on shares of 3M in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. increased their price target on 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.87.

3M Price Performance

Shares of 3M stock opened at $152.43 on Thursday. The firm has a market cap of $83.01 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 3.37 and a beta of 0.96. 3M has a 12-month low of $75.40 and a 12-month high of $155.00. The company’s fifty day simple moving average is $135.98 and its two-hundred day simple moving average is $131.93. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 in the prior year, the company earned $2.42 earnings per share. The firm’s quarterly revenue was down 25.0% compared to the same quarter last year. As a group, equities analysts expect that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The firm also recently declared 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 1.92%. The ex-dividend date is Friday, February 14th. This is a positive change from 3M’s previous quarterly dividend of $0.70. 3M’s dividend payout ratio 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.