Wayfinding Financial LLC Buys Shares of 6,598 3M (NYSE:MMM)

Wayfinding Financial LLC purchased a new position in shares of 3M (NYSE:MMM) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,598 shares of the conglomerate’s stock, valued at approximately $851,000.

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

3M Stock Performance

Shares of MMM stock opened at $151.16 on Friday. 3M has a 12-month low of $85.62 and a 12-month high of $156.35. The company has a market capitalization of $82.06 billion, a P/E ratio of 20.02, a P/E/G ratio of 3.30 and a beta of 0.97. 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 business’s 50 day moving average is $147.96 and its two-hundred day moving average is $137.36.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The company had revenue of $6.01 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. Analysts expect that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were given a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from 3M’s previous quarterly dividend of $0.70. 3M’s payout ratio is 38.68%.

Insider Activity at 3M

In related news, insider Christian T. Goralski, Jr. sold 6,318 shares of the business’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 transaction, the insider now owns 5,024 shares in the company, valued at $750,736.32. The trade was a 55.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 disclosure for this sale can be found here. Insiders have sold 113,639 shares of company stock worth $17,163,446 in the last quarter. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

MMM has been the topic of a number of recent research reports. Barclays increased their price target on shares of 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Citigroup raised their price target on 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of 3M in a report on Friday, March 7th. Bank of America raised their target price on 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Finally, JPMorgan Chase & Co. boosted 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. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $149.13.

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.