Principle Wealth Partners LLC Has $5.81 Million Stock Holdings in 3M (NYSE:MMM)

Principle Wealth Partners LLC lowered its position in 3M (NYSE:MMM) by 1.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,977 shares of the conglomerate’s stock after selling 865 shares during the quarter. Principle Wealth Partners LLC’s holdings in 3M were worth $5,806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in MMM. Financial Life Planners acquired a new stake in shares of 3M in the fourth quarter valued at about $25,000. FSA Wealth Management LLC bought a new stake in 3M in the third quarter valued at approximately $27,000. McClarren Financial Advisors Inc. increased its position in 3M by 118.6% during 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 period. Daymark Wealth Partners LLC raised its holdings in 3M by 9.0% during the 4th quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 19,552 shares during the last quarter. Finally, ORG Partners LLC lifted its position 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 purchasing an additional 98 shares during the period. Institutional investors own 65.25% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Citigroup lifted their target price on shares of 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Royal Bank of Canada reissued an “underperform” rating and issued a $96.00 price objective on shares of 3M in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. upped their target price on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of 3M in a research note on Saturday, February 1st. Finally, 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 research report on Wednesday, November 13th. 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $148.87.

3M Stock Performance

MMM opened at $149.59 on Tuesday. 3M has a 1-year low of $75.40 and a 1-year high of $155.00. The company has a market cap of $81.21 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 3.37 and a beta of 0.96. The company’s fifty day moving average price is $137.11 and its two-hundred day moving average price is $132.92. 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 posted its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share 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 analyst estimates of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The firm’s revenue was down 25.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.42 EPS. On average, analysts expect that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 14th will be given a dividend of $0.73 per share. This is a boost from 3M’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.92 annualized dividend and a dividend yield of 1.95%. 3M’s payout ratio is presently 37.09%.

Insider Buying and Selling

In other news, Chairman Michael F. Roman sold 45,276 shares of the business’s stock in a transaction that occurred 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. The trade was a 20.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the 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 of the company’s stock, valued at $750,736.32. The trade was a 55.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,639 shares of company stock worth $17,163,446. 0.34% of the stock is owned by corporate insiders.

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.