JNBA Financial Advisors Cuts Stock Holdings in 3M (NYSE:MMM)

JNBA Financial Advisors lessened its holdings in 3M (NYSE:MMM) by 10.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,366 shares of the conglomerate’s stock after selling 650 shares during the quarter. JNBA Financial Advisors’ holdings in 3M were worth $693,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Gilbert & Cook Inc. raised its position in 3M by 1.5% in the fourth quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate’s stock worth $659,000 after acquiring an additional 73 shares in the last quarter. Childress Capital Advisors LLC boosted its stake in 3M by 5.1% in 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 last quarter. Wynn Capital LLC grew its holdings 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 during the period. Harbour Investments Inc. increased its stake in shares of 3M by 0.8% during the 3rd 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 last quarter. Finally, William Allan Corp lifted its holdings in shares of 3M by 1.4% during the 4th quarter. William Allan Corp now owns 5,959 shares of the conglomerate’s stock worth $769,000 after acquiring an additional 82 shares during the period. 65.25% of the stock is owned by hedge funds and other institutional investors.

3M Stock Down 0.0 %

Shares of NYSE MMM opened at $148.65 on Friday. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. 3M has a 1 year low of $75.40 and a 1 year high of $155.00. The stock’s 50-day simple moving average is $138.80 and its 200-day simple moving average is $133.79. The firm has a market cap of $80.70 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 3.37 and a beta of 0.96.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.02. The company had revenue of $6.01 billion for the quarter, compared to the consensus estimate 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 in the previous year, the business earned $2.42 EPS. As a group, equities analysts anticipate that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 1.96%. This is an increase from 3M’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, February 14th. 3M’s dividend payout ratio is 37.09%.

Insiders Place Their Bets

In related news, CAO Theresa E. Reinseth sold 2,309 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $149.95, for a total transaction of $346,234.55. Following the sale, the chief accounting officer now directly owns 4,417 shares of the company’s stock, valued at approximately $662,329.15. This represents a 34.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Michael F. Roman sold 45,276 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $150.01, for a total value of $6,791,852.76. Following the transaction, the chairman now owns 175,718 shares in the company, valued at $26,359,457.18. This trade represents a 20.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,639 shares of company stock valued at $17,163,446 in the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Royal Bank of Canada restated an “underperform” rating and set a $96.00 price objective on shares of 3M in a report on Wednesday, January 22nd. JPMorgan Chase & Co. lifted their target price on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of 3M in a research report on Saturday, February 1st. Finally, Melius upgraded 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.