Twelve Points Wealth Management LLC Has $732,000 Stock Holdings in 3M (NYSE:MMM)

Twelve Points Wealth Management LLC lifted its stake in 3M (NYSE:MMM) by 21.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,671 shares of the conglomerate’s stock after acquiring an additional 1,015 shares during the quarter. Twelve Points Wealth Management LLC’s holdings in 3M were worth $732,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of MMM. Creative Planning increased its position in 3M by 7.5% during the second quarter. Creative Planning now owns 151,763 shares of the conglomerate’s stock worth $15,509,000 after buying an additional 10,599 shares during the last quarter. NewEdge Advisors LLC increased its position in 3M by 15.1% during the second quarter. NewEdge Advisors LLC now owns 62,500 shares of the conglomerate’s stock worth $6,387,000 after buying an additional 8,220 shares during the last quarter. EP Wealth Advisors LLC increased its position in 3M by 1.0% during the second quarter. EP Wealth Advisors LLC now owns 14,487 shares of the conglomerate’s stock worth $1,480,000 after buying an additional 143 shares during the last quarter. Cetera Investment Advisers increased its position in 3M by 10.7% during the second quarter. Cetera Investment Advisers now owns 183,925 shares of the conglomerate’s stock worth $18,795,000 after buying an additional 17,793 shares during the last quarter. Finally, Ariadne Wealth Management LP acquired a new position in 3M during the second quarter worth $245,000. 65.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MMM has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target on shares of 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Royal Bank of Canada restated an “underperform” rating and set a $96.00 price target on shares of 3M in a report on Wednesday, January 22nd. UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and upped their price target for the company from $130.00 to $184.00 in a report on Wednesday, November 13th. 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. Finally, Mizuho upped their price target on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, 3M currently has an average rating of “Moderate Buy” and an average target price of $148.87.

3M Stock Down 0.1 %

Shares of MMM stock opened at $151.34 on Wednesday. The firm has a market capitalization of $82.42 billion, a P/E ratio of 20.05, a PEG ratio of 2.46 and a beta of 0.95. The firm’s fifty day moving average price is $133.26 and its two-hundred day moving average price is $129.89. 3M has a 1 year low of $75.40 and a 1 year high of $152.96. 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 (NYSE:MMM) last released its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.02. 3M had a net margin of 15.71% and a return on equity of 100.77%. The company had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.77 billion. During the same period in the previous year, the business earned $2.42 EPS. 3M’s revenue for the quarter was down 25.0% compared to the same quarter last year. On average, equities analysts predict that 3M will post 7.66 EPS for the current fiscal year.

3M Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend was Friday, November 15th. 3M’s dividend payout ratio is currently 37.09%.

Insider Buying and Selling at 3M

In related news, EVP Kevin H. Rhodes sold 6,743 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $149.85, for a total value of $1,010,438.55. Following the completion of the transaction, the executive vice president now owns 4,902 shares of the company’s stock, valued at $734,564.70. This represents a 57.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Michael F. Roman sold 45,276 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $150.01, for a total transaction of $6,791,852.76. Following the completion of the transaction, the chairman now directly owns 175,718 shares of the company’s stock, valued at approximately $26,359,457.18. The trade was a 20.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,291 shares of company stock valued at $9,339,786 in the last quarter. Company insiders own 0.34% of the company’s stock.

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.