Focus Partners Wealth Sells 4,021 Shares of 3M (NYSE:MMM)

Focus Partners Wealth lessened its holdings in shares of 3M (NYSE:MMM - Free Report) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 137,282 shares of the conglomerate's stock after selling 4,021 shares during the period. Focus Partners Wealth's holdings in 3M were worth $17,730,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of MMM. Financial Life Planners acquired a new stake in shares of 3M during the fourth quarter worth $25,000. Hazlett Burt & Watson Inc. bought a new position in shares of 3M in the 4th quarter worth about $27,000. Meeder Asset Management Inc. lifted its stake in shares of 3M by 230.1% in the 4th quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate's stock valued at $40,000 after purchasing an additional 214 shares during the period. ORG Partners LLC boosted its position in shares of 3M by 44.1% during the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate's stock valued at $41,000 after purchasing an additional 98 shares in the last quarter. Finally, Catalyst Capital Advisors LLC boosted its position in shares of 3M by 81.5% during the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the conglomerate's stock valued at $47,000 after purchasing an additional 163 shares in the last quarter. Institutional investors own 65.25% of the company's stock.

Wall Street Analysts Forecast Growth

MMM has been the topic of a number of research analyst reports. Citigroup cut their price target on 3M from $152.00 to $142.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Wells Fargo & Company raised 3M from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $140.00 to $170.00 in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. cut their target price on 3M from $165.00 to $140.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a research note on Saturday, May 10th. Finally, Barclays raised their price objective on shares of 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a research note on Wednesday, April 23rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $149.29.

3M Stock Performance

Shares of 3M stock traded up $1.11 on Thursday, hitting $148.99. 3,824,334 shares of the company's stock were exchanged, compared to its average volume of 4,028,156. 3M has a 1 year low of $96.76 and a 1 year high of $156.35. The company has a 50-day simple moving average of $141.47 and a 200-day simple moving average of $139.02. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The stock has a market capitalization of $80.18 billion, a PE ratio of 19.73, a PEG ratio of 3.30 and a beta of 1.02.

3M (NYSE:MMM - Get Free Report) last released its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.11. 3M had a return on equity of 100.77% and a net margin of 15.71%. The company had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.78 billion. As a group, equities analysts anticipate that 3M will post 7.8 EPS for the current year.

3M Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be issued a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 1.96%. 3M's dividend payout ratio is currently 36.87%.

3M Company 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.