3M (NYSE:MMM) Stock Holdings Raised by Pettyjohn Wood & White Inc.

Pettyjohn Wood & White Inc. increased its position in 3M (NYSE:MMM) by 22.7% in the fourth quarter, Holdings Channel reports. The firm owned 2,698 shares of the conglomerate’s stock after purchasing an additional 500 shares during the quarter. Pettyjohn Wood & White Inc.’s holdings in 3M were worth $348,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Financial Life Planners bought a new stake in shares of 3M in the 4th quarter valued at approximately $25,000. FSA Wealth Management LLC bought a new stake in 3M during the third quarter valued at $27,000. True Wealth Design LLC raised its holdings in shares of 3M by 2,466.7% during the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock worth $42,000 after purchasing an additional 296 shares during the period. ORG Partners LLC lifted its position 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 buying an additional 98 shares during the last quarter. Finally, Catalyst Capital Advisors LLC grew its position in shares of 3M by 81.5% during the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the conglomerate’s stock valued at $47,000 after buying an additional 163 shares during the last quarter. 65.25% of the stock is owned by institutional investors.

3M Trading Up 2.1 %

3M stock opened at $150.48 on Friday. 3M has a 1 year low of $75.40 and a 1 year high of $155.00. The firm’s 50 day moving average price is $142.21 and its two-hundred day moving average price is $135.20. The firm has a market cap of $81.70 billion, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 3.30 and a beta of 0.96. 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 announced 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 business had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. 3M’s revenue was down 25.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.42 earnings per share. On average, research analysts predict that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 14th will be given a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from 3M’s previous quarterly dividend of $0.70. 3M’s dividend payout ratio is 38.68%.

Insider Buying and Selling

In other 3M news, insider Christian T. Goralski, Jr. sold 6,318 shares of the firm’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 in the company, valued at approximately $750,736.32. This trade represents a 55.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 completion of the transaction, the executive vice president now owns 194 shares in the company, valued at $29,918.68. This represents a 90.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,639 shares of company stock valued at $17,163,446. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

MMM has been the topic of a number of research reports. Barclays increased their price target on 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. UBS Group raised shares of 3M from a “neutral” rating to a “buy” rating and boosted their price target for the company from $130.00 to $184.00 in a report on Wednesday, November 13th. Citigroup increased their price objective on shares of 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. JPMorgan Chase & Co. boosted their target price 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. Finally, Weiss Ratings reaffirmed 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 issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, 3M presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.87.

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.