MML Investors Services LLC Boosts Stake in 3M (NYSE:MMM)

MML Investors Services LLC lifted its stake in shares of 3M (NYSE:MMM - Free Report) by 34.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 122,063 shares of the conglomerate's stock after buying an additional 31,044 shares during the quarter. MML Investors Services LLC's holdings in 3M were worth $15,757,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Financial Life Planners acquired a new position in 3M during the fourth quarter worth $25,000. Proficio Capital Partners LLC bought a new stake in shares of 3M during the fourth quarter worth about $26,000. Hazlett Burt & Watson Inc. acquired a new stake in shares of 3M in the 4th quarter worth about $27,000. Daymark Wealth Partners LLC raised its holdings in shares of 3M by 9.0% in the 4th quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate's stock worth $31,000 after acquiring an additional 19,552 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its holdings in shares of 3M by 230.1% in the 4th quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate's stock worth $40,000 after acquiring an additional 214 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company's stock.

3M Stock Performance

Shares of 3M stock traded down $1.58 on Friday, reaching $137.30. 2,141,243 shares of the company traded hands, compared to its average volume of 4,175,835. 3M has a 52 week low of $91.56 and a 52 week high of $156.35. The company has a 50 day moving average of $143.15 and a 200 day moving average of $138.27. The firm has a market capitalization of $73.89 billion, a PE ratio of 18.19, a PEG ratio of 3.30 and a beta of 1.01. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08.

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

3M Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were issued a $0.73 dividend. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from 3M's previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a yield of 2.13%. 3M's dividend payout ratio (DPR) is 36.87%.

Insider Buying and Selling

In other 3M news, EVP Kevin H. Rhodes sold 6,743 shares of the firm's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $149.85, for a total value of $1,010,438.55. Following the completion of the transaction, the executive vice president now directly owns 4,902 shares of the company's stock, valued at $734,564.70. This trade represents a 57.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the firm's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $150.25, for a total transaction of $247,161.25. Following the completion of the transaction, the insider now directly owns 5,153 shares of the company's stock, valued at approximately $774,238.25. The trade was a 24.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,736 shares of company stock valued at $9,081,260. Company insiders own 0.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MMM shares. Wells Fargo & Company upgraded 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 report on Wednesday, January 22nd. Citigroup lowered their target price on shares of 3M from $152.00 to $142.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a report on Thursday. Royal Bank of Canada upped their target price on shares of 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a report on Wednesday. Finally, Barclays upped their target price on shares of 3M from $160.00 to $164.00 and gave the stock an "overweight" rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $147.00.

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.