Dividend Assets Capital LLC Has $318,000 Position in 3M (NYSE:MMM)

Dividend Assets Capital LLC decreased its holdings in 3M (NYSE:MMM) by 9.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,467 shares of the conglomerate’s stock after selling 266 shares during the quarter. Dividend Assets Capital LLC’s holdings in 3M were worth $318,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Investors Asset Management of Georgia Inc. GA ADV lifted its stake in 3M by 1.3% during the fourth quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,377 shares of the conglomerate’s stock worth $694,000 after purchasing an additional 67 shares during the period. Gilbert & Cook Inc. raised its holdings in shares of 3M by 1.5% in the 4th quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate’s stock worth $659,000 after buying an additional 73 shares in the last quarter. Childress Capital Advisors LLC lifted its position in shares of 3M by 5.1% during the 4th quarter. Childress Capital Advisors LLC now owns 1,573 shares of the conglomerate’s stock worth $203,000 after buying an additional 76 shares during the period. Wynn Capital LLC boosted its stake in 3M by 0.7% in the 4th quarter. Wynn Capital LLC now owns 11,690 shares of the conglomerate’s stock valued at $1,509,000 after buying an additional 80 shares in the last quarter. Finally, Harbour Investments Inc. grew its position in 3M by 0.8% in the third quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate’s stock valued at $1,443,000 after acquiring an additional 81 shares during the period. 65.25% of the stock is owned by institutional investors.

3M Price Performance

Shares of MMM stock opened at $144.87 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 $75.40 and a 12-month high of $155.00. The firm has a fifty day moving average of $140.62 and a 200-day moving average of $134.56. The firm has a market capitalization of $78.65 billion, a price-to-earnings ratio of 19.19, a price-to-earnings-growth ratio of 3.32 and a beta of 0.96.

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. 3M had a return on equity of 100.77% and a net margin of 15.71%. The firm had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.77 billion. During the same period in the previous year, the firm earned $2.42 earnings per share. The company’s revenue was down 25.0% on a year-over-year basis. 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 will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th will be issued a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Friday, February 14th. This is a boost from 3M’s previous quarterly dividend of $0.70. 3M’s dividend payout ratio is 38.68%.

Insider Transactions at 3M

In other news, insider Christian T. Goralski, Jr. sold 6,318 shares of 3M stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $149.43, for a total value of $944,098.74. Following the sale, the insider now directly owns 5,024 shares in the company, valued at $750,736.32. This trade represents a 55.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $150.25, for a total transaction of $247,161.25. Following the transaction, the insider now owns 5,153 shares of the company’s stock, valued at $774,238.25. The trade was a 24.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,639 shares of company stock valued at $17,163,446 over the last quarter. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of 3M in a research note on Wednesday. Citigroup boosted their price target on shares of 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. UBS Group raised shares of 3M from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $130.00 to $184.00 in a report on Wednesday, November 13th. Royal Bank of Canada reissued an “underperform” rating and issued a $96.00 target price on shares of 3M in a report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, 3M currently has an average rating of “Moderate Buy” and an average 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.