Annis Gardner Whiting Capital Advisors LLC Sells 99 Shares of 3M (NYSE:MMM)

Annis Gardner Whiting Capital Advisors LLC trimmed its stake in 3M (NYSE:MMM) by 22.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 333 shares of the conglomerate’s stock after selling 99 shares during the period. Annis Gardner Whiting Capital Advisors LLC’s holdings in 3M were worth $43,000 as of its most recent SEC filing.

Other hedge funds 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 worth about $25,000. Proficio Capital Partners LLC bought a new stake in 3M during the fourth quarter worth about $26,000. Hazlett Burt & Watson Inc. acquired a new stake in shares of 3M during the fourth quarter worth approximately $27,000. Daymark Wealth Partners LLC raised its stake in shares of 3M by 9.0% in the fourth quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 19,552 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its holdings in shares of 3M by 230.1% in the 4th quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate’s stock worth $40,000 after acquiring an additional 214 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of 3M in a report on Saturday, March 22nd. Wells Fargo & Company upgraded shares of 3M from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Barclays raised 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. Bank of America increased their price objective on 3M from $175.00 to $179.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Finally, Royal Bank of Canada restated an “underperform” rating and set a $96.00 target price on shares of 3M in a research report on Thursday, February 27th. Two 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 stock. According to MarketBeat, 3M has a consensus rating of “Moderate Buy” and a consensus price target of $149.13.

Insider Activity

In related news, EVP Victoria Clarke sold 1,750 shares of the company’s stock in a transaction on 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 directly owns 194 shares of the company’s stock, valued at approximately $29,918.68. This represents a 90.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of 3M stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $150.25, for a total value of $247,161.25. Following the completion of the sale, the insider now directly owns 5,153 shares in the company, valued at $774,238.25. This represents a 24.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,639 shares of company stock worth $17,163,446 over the last quarter. 0.34% of the stock is currently owned by company insiders.

3M Price Performance

Shares of MMM stock opened at $126.62 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. 3M has a 12-month low of $89.54 and a 12-month high of $156.35. The firm has a fifty day moving average of $149.05 and a 200-day moving average of $138.51. The firm has a market capitalization of $68.29 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 3.30 and a beta of 0.97.

3M (NYSE:MMM) last posted its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. The firm had revenue of $6.01 billion during 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%. The company’s revenue was down 25.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.42 earnings per share. On average, equities research analysts forecast that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th were paid a $0.73 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a yield of 2.31%. This is a positive change from 3M’s previous quarterly dividend of $0.70. 3M’s payout ratio 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.