Forvis Mazars Wealth Advisors LLC Buys 147 Shares of 3M (NYSE:MMM)

Forvis Mazars Wealth Advisors LLC boosted its stake in 3M (NYSE:MMM) by 1.3% during the 4th quarter, Holdings Channel reports. The firm owned 11,480 shares of the conglomerate’s stock after buying an additional 147 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in 3M were worth $1,482,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MMM. Pavion Blue Capital LLC boosted its stake in 3M by 7.5% during the fourth quarter. Pavion Blue Capital LLC now owns 6,681 shares of the conglomerate’s stock valued at $862,000 after buying an additional 465 shares during the last quarter. WESPAC Advisors LLC raised its holdings in shares of 3M by 176.1% during the 4th quarter. WESPAC Advisors LLC now owns 11,770 shares of the conglomerate’s stock worth $1,519,000 after acquiring an additional 7,507 shares in the last quarter. Fisher Funds Management LTD bought a new position in shares of 3M during the 4th quarter valued at approximately $4,951,000. Pinnacle Financial Partners Inc grew its holdings in shares of 3M by 2.3% in the fourth quarter. Pinnacle Financial Partners Inc now owns 13,157 shares of the conglomerate’s stock valued at $1,745,000 after purchasing an additional 300 shares in the last quarter. Finally, Winebrenner Capital Management LLC bought a new stake in 3M in the fourth quarter worth $516,000. Institutional investors own 65.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and increased their price objective for the company from $130.00 to $184.00 in a research report on Wednesday, November 13th. Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $140.00 to $170.00 in a report on Wednesday, January 22nd. Barclays boosted their price objective on 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. raised their price objective on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of 3M in a report on Wednesday, February 19th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, 3M has a consensus rating of “Moderate Buy” and a consensus target price of $148.87.

3M Stock Down 2.8 %

Shares of MMM opened at $144.87 on Monday. The firm has a fifty day moving average price of $140.62 and a 200-day moving average price of $134.71. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. The firm has a market capitalization of $78.65 billion, a P/E ratio of 19.19, a P/E/G ratio of 3.30 and a beta of 0.96. 3M has a 12-month low of $75.40 and a 12-month high of $155.00.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (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 analysts’ expectations of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The firm’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 EPS. Equities research analysts expect 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 will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.73 per share. This is an increase from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Friday, February 14th. 3M’s dividend payout ratio (DPR) is presently 38.68%.

Insider Buying and Selling at 3M

In related news, CAO Theresa E. Reinseth sold 2,309 shares of 3M stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $149.95, for a total value of $346,234.55. Following the completion of the sale, the chief accounting officer now directly owns 4,417 shares in the company, valued at $662,329.15. The trade was a 34.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the company’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $149.43, for a total transaction of $944,098.74. Following the completion of the sale, the insider now directly owns 5,024 shares of the company’s stock, valued at approximately $750,736.32. This trade represents a 55.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,639 shares of company stock valued at $17,163,446 in the last ninety days. Corporate insiders own 0.34% of the company’s stock.

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.