Gryphon Financial Partners LLC Invests $143,000 in 3M (NYSE:MMM)

Gryphon Financial Partners LLC purchased a new stake in shares of 3M (NYSE:MMM) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,108 shares of the conglomerate’s stock, valued at approximately $143,000.

A number of other institutional investors also recently bought and sold shares of MMM. Financial Life Planners purchased a new stake in 3M in the fourth quarter worth $25,000. Proficio Capital Partners LLC purchased a new stake in shares of 3M in the 4th quarter worth about $26,000. FSA Wealth Management LLC bought a new position in shares of 3M in the 3rd quarter worth about $27,000. Daymark Wealth Partners LLC lifted its holdings in shares of 3M by 9.0% during the fourth quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 19,552 shares during the last quarter. Finally, ORG Partners LLC grew its stake 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. 65.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on MMM. Royal Bank of Canada reiterated an “underperform” rating and set a $96.00 price objective on shares of 3M in a research note on Thursday, February 27th. JPMorgan Chase & Co. lifted their target price on shares of 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and increased their target price for the company from $130.00 to $184.00 in a research note on Wednesday, November 13th. Barclays boosted their price target on 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Finally, Citigroup upped their target price on shares of 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Two equities 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $148.87.

Insider Activity

In other news, CAO Theresa E. Reinseth sold 2,309 shares of the business’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $149.95, for a total value of $346,234.55. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $149.43, for a total transaction of $944,098.74. Following the transaction, the insider now owns 5,024 shares of the company’s stock, valued at approximately $750,736.32. This represents a 55.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,639 shares of company stock worth $17,163,446 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

3M Stock Down 1.2 %

Shares of MMM stock opened at $153.19 on Tuesday. The company has a 50 day simple moving average of $143.22 and a two-hundred day simple moving average of $135.74. The stock has a market cap of $83.17 billion, a P/E ratio of 20.29, 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 $156.35. 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 announced its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. The company had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. 3M’s revenue for the quarter was down 25.0% compared to the same quarter last year. During the same period last year, the firm earned $2.42 EPS. On average, 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. Stockholders of record on Friday, February 14th will be given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 1.91%. This is an increase from 3M’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, February 14th. 3M’s dividend payout ratio (DPR) is presently 38.68%.

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.