Philip James Wealth Mangement LLC Cuts Holdings in 3M (NYSE:MMM)

Philip James Wealth Mangement LLC lessened its stake in 3M (NYSE:MMM) by 17.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,795 shares of the conglomerate’s stock after selling 8,929 shares during the period. Philip James Wealth Mangement LLC’s holdings in 3M were worth $5,395,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Financial Life Planners bought a new stake in shares of 3M in the 4th quarter worth approximately $25,000. FSA Wealth Management LLC bought a new stake in shares of 3M in the 3rd quarter worth approximately $27,000. McClarren Financial Advisors Inc. lifted its holdings in shares of 3M by 118.6% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 121 shares during the last quarter. Daymark Wealth Partners LLC lifted its holdings in shares of 3M by 9.0% in the 4th quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 19,552 shares during the last quarter. Finally, ORG Partners LLC lifted its holdings in shares of 3M by 44.1% in the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after acquiring an additional 98 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Insider Transactions at 3M

In other news, EVP Victoria Clarke sold 1,750 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $154.22, for a total value of $269,885.00. Following the sale, the executive vice president now directly owns 194 shares of the company’s stock, valued at $29,918.68. This represents a 90.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Michael F. Roman sold 49,598 shares of the company’s stock in a transaction dated 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 completion of the sale, the chairman now directly owns 180,895 shares in the company, valued at $27,550,308.50. This represents a 21.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,639 shares of company stock valued at $17,163,446 in the last three months. 0.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MMM. Melius upgraded shares of 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $130.00 to $184.00 in a report on Wednesday, November 13th. JPMorgan Chase & Co. boosted their price objective on shares of 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a report on Tuesday, October 22nd. Finally, Barclays upped their price target on shares of 3M from $161.00 to $165.00 and gave the company 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 company’s stock. According to data from MarketBeat.com, 3M has an average rating of “Moderate Buy” and an average price target of $148.87.

3M Stock Down 0.0 %

Shares of NYSE MMM opened at $148.65 on Monday. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. 3M has a 12 month low of $75.40 and a 12 month high of $155.00. The firm has a market capitalization of $80.70 billion, a PE ratio of 19.69, a price-to-earnings-growth ratio of 3.37 and a beta of 0.96. The firm has a fifty day simple moving average of $138.80 and a two-hundred day simple moving average of $133.83.

3M (NYSE:MMM) last released its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. The firm had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The company’s revenue was down 25.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.42 EPS. Equities analysts expect that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th will be given a $0.73 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.96%. 3M’s dividend payout ratio is currently 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.