Stephens Consulting LLC Boosts Holdings in 3M (NYSE:MMM)

Stephens Consulting LLC lifted its stake in shares of 3M (NYSE:MMM) by 151.3% in the fourth quarter, Holdings Channel reports. The firm owned 1,495 shares of the conglomerate’s stock after buying an additional 900 shares during the period. Stephens Consulting LLC’s holdings in 3M were worth $193,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Financial Life Planners acquired a new position in 3M in the fourth quarter valued at about $25,000. FSA Wealth Management LLC acquired a new position in shares of 3M in the 3rd quarter worth approximately $27,000. Daymark Wealth Partners LLC boosted its position in shares of 3M by 8.6% during the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 17,211 shares during the period. McClarren Financial Advisors Inc. increased its holdings in 3M by 118.6% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 121 shares during the last quarter. Finally, ORG Partners LLC raised its position in 3M by 44.1% in the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after purchasing an additional 98 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Trading Down 1.4 %

MMM opened at $150.13 on Tuesday. The firm has a market cap of $81.76 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 3.37 and a beta of 0.96. 3M has a 52 week low of $75.40 and a 52 week high of $155.00. The business’s 50 day moving average is $135.21 and its two-hundred day moving average is $131.26. 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 (NYSE:MMM) last released its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, beating 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 firm had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same quarter in the prior year, the firm earned $2.42 EPS. 3M’s revenue for the quarter was down 25.0% on a year-over-year basis. On average, research analysts predict that 3M will post 7.8 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MMM. Royal Bank of Canada reiterated an “underperform” rating and issued a $96.00 price objective on shares of 3M in a report on Wednesday, January 22nd. Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Weiss Ratings restated a “hold (c)” rating on shares of 3M in a report on Saturday. Citigroup increased their target price on shares of 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Finally, Mizuho boosted their price target on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Two investment 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $148.87.

Insider Buying and Selling

In other 3M 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 transaction of $269,885.00. Following the completion of the transaction, the executive vice president now owns 194 shares in the company, valued at approximately $29,918.68. This represents a 90.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Theresa E. Reinseth sold 2,309 shares of 3M stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $149.95, for a total transaction of $346,234.55. Following the completion of the sale, the chief accounting officer now directly owns 4,417 shares in the company, valued at approximately $662,329.15. The trade was a 34.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,639 shares of company stock valued at $17,163,446 over the last quarter. 0.38% of the stock is currently owned by insiders.

3M 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.