3M (NYSE:MMM) Stock Position Increased by Windle Wealth LLC

Windle Wealth LLC lifted its holdings in shares of 3M (NYSE:MMM) by 0.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,080 shares of the conglomerate’s stock after buying an additional 211 shares during the quarter. 3M comprises 4.4% of Windle Wealth LLC’s investment portfolio, making the stock its 6th biggest position. Windle Wealth LLC’s holdings in 3M were worth $8,014,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Moors & Cabot Inc. increased its holdings in 3M by 17.2% during the 4th quarter. Moors & Cabot Inc. now owns 20,416 shares of the conglomerate’s stock worth $2,636,000 after acquiring an additional 2,996 shares during the period. Natural Investments LLC bought a new stake in 3M during the 4th quarter worth approximately $1,135,000. AGF Management Ltd. increased its holdings in 3M by 167.8% during the 4th quarter. AGF Management Ltd. now owns 5,552 shares of the conglomerate’s stock worth $717,000 after acquiring an additional 3,479 shares during the period. Miller Financial Services LLC bought a new stake in 3M during the 4th quarter worth approximately $487,000. Finally, Net Worth Advisory Group bought a new stake in 3M during the 4th quarter worth approximately $266,000. Institutional investors own 65.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MMM. Citigroup increased their price target on shares of 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. UBS Group raised shares of 3M from a “neutral” rating to a “buy” rating and increased their price target for the stock from $130.00 to $184.00 in a 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 stock from $140.00 to $170.00 in a report on Wednesday, January 22nd. Royal Bank of Canada reissued an “underperform” rating and issued a $96.00 price target on shares of 3M in a report on Thursday, February 27th. Finally, JPMorgan Chase & Co. increased their price target on shares of 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 assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.13.

3M Price Performance

Shares of 3M stock opened at $147.74 on Wednesday. The firm has a market cap of $80.21 billion, a PE ratio of 19.57, a price-to-earnings-growth ratio of 3.30 and a beta of 0.97. 3M has a 12-month low of $81.23 and a 12-month high of $156.35. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The company’s fifty day simple moving average is $145.26 and its two-hundred day simple moving average is $136.53.

3M (NYSE:MMM) last announced its quarterly earnings results 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. The business had revenue of $6.01 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm earned $2.42 EPS. As a group, equities analysts expect that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th will be issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 1.98%. 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 (DPR) is 38.68%.

Insider Activity

In other news, CAO Theresa E. Reinseth sold 2,309 shares of 3M stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $149.95, for a total transaction of $346,234.55. Following the sale, the chief accounting officer now owns 4,417 shares of the company’s stock, valued at approximately $662,329.15. The trade was a 34.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Michael F. Roman sold 49,598 shares of 3M stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $152.30, for a total transaction of $7,553,775.40. Following the sale, the chairman now directly owns 180,895 shares in the company, valued at $27,550,308.50. The trade was a 21.52 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,639 shares of company stock valued at $17,163,446. 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.