Burt Wealth Advisors Has $269,000 Position in 3M (NYSE:MMM)

Burt Wealth Advisors decreased its holdings in shares of 3M (NYSE:MMM) by 6.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,085 shares of the conglomerate’s stock after selling 145 shares during the period. Burt Wealth Advisors’ holdings in 3M were worth $269,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Financial Life Planners bought a new position in 3M in the 4th quarter valued at about $25,000. Proficio Capital Partners LLC bought a new position in shares of 3M in the fourth quarter valued at approximately $26,000. FSA Wealth Management LLC purchased a new position in shares of 3M during the third quarter valued at approximately $27,000. Daymark Wealth Partners LLC grew its holdings in 3M by 9.0% during the fourth quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate’s stock worth $31,000 after buying an additional 19,552 shares in the last quarter. Finally, ORG Partners LLC raised its position in 3M by 44.1% in the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after buying an additional 98 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Trading Down 1.2 %

NYSE:MMM opened at $153.19 on Tuesday. 3M has a 1 year low of $75.40 and a 1 year high of $156.35. The stock’s fifty day moving average price is $143.22 and its two-hundred day moving average price is $135.74. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The company has a market cap of $83.17 billion, a P/E ratio of 20.29, a P/E/G ratio of 3.30 and a beta of 0.96.

3M (NYSE:MMM) last issued its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping the consensus estimate of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The business had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same quarter last year, the company earned $2.42 EPS. The firm’s revenue was down 25.0% compared to the same quarter last year. As a group, analysts expect that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th will be paid a $0.73 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a yield of 1.91%. 3M’s dividend payout ratio is currently 38.68%.

Insider Buying and Selling at 3M

In other 3M news, insider Christian T. Goralski, Jr. sold 6,318 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $149.43, for a total value of $944,098.74. Following the sale, the insider now owns 5,024 shares of the company’s stock, valued at $750,736.32. This trade represents a 55.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kevin H. Rhodes sold 6,743 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $149.85, for a total transaction of $1,010,438.55. Following the completion of the sale, the executive vice president now directly owns 4,902 shares in the company, valued at $734,564.70. This represents a 57.90 % 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 three months. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Bank of America lifted their price objective on shares of 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Barclays increased their price objective on shares of 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of 3M in a report on Wednesday, February 19th. JPMorgan Chase & Co. lifted their price target on 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Finally, Citigroup upped their price objective on 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, 3M presently has a consensus rating of “Moderate Buy” and an average price target 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.