TFG Advisers LLC Buys Shares of 1,846 3M (NYSE:MMM)

TFG Advisers LLC bought a new position in 3M (NYSE:MMM) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,846 shares of the conglomerate’s stock, valued at approximately $238,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MMM. BayBridge Capital Group LLC lifted its holdings in 3M by 2.2% during the fourth quarter. BayBridge Capital Group LLC now owns 11,244 shares of the conglomerate’s stock worth $1,452,000 after acquiring an additional 244 shares in the last quarter. Appleton Partners Inc. MA raised its position in shares of 3M by 50.0% during the fourth quarter. Appleton Partners Inc. MA now owns 3,451 shares of the conglomerate’s stock worth $445,000 after purchasing an additional 1,150 shares during the period. Realta Investment Advisors bought a new position in shares of 3M during the 4th quarter valued at about $352,000. Prairie Wealth Advisors Inc. grew its position in shares of 3M by 14.2% in the 4th quarter. Prairie Wealth Advisors Inc. now owns 4,589 shares of the conglomerate’s stock valued at $592,000 after purchasing an additional 570 shares during the period. Finally, Fairvoy Private Wealth LLC bought a new stake in 3M during the 4th quarter worth approximately $744,000. 65.25% of the stock is owned by institutional investors.

3M Price Performance

NYSE:MMM opened at $149.90 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. The firm has a fifty day simple moving average of $136.78 and a 200 day simple moving average of $132.21. 3M has a 1-year low of $75.40 and a 1-year high of $155.00. The stock has a market capitalization of $81.38 billion, a PE ratio of 19.85, a P/E/G ratio of 3.37 and a beta of 0.96.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping 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 company had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.77 billion. During the same period in the previous year, the business earned $2.42 EPS. 3M’s revenue for the quarter was down 25.0% compared to the same quarter last year. On average, research analysts expect that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th will be given a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.95%. This is a boost 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 (DPR) is presently 37.09%.

Insider Transactions at 3M

In related news, insider Christian T. Goralski, Jr. sold 6,318 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $149.43, for a total value of $944,098.74. Following the transaction, the insider now owns 5,024 shares in the company, valued at approximately $750,736.32. This represents a 55.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Theresa E. Reinseth sold 2,309 shares of the 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 transaction, the chief accounting officer now directly owns 4,417 shares in the company, valued at approximately $662,329.15. This represents a 34.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 113,639 shares of company stock worth $17,163,446. 0.34% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Melius upgraded shares of 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Wells Fargo & Company raised 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 note on Wednesday, January 22nd. Bank of America increased their target price on 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of 3M in a research report on Saturday, February 1st. Finally, UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $130.00 to $184.00 in a report on Wednesday, November 13th. Two 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $148.87.

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.