OneDigital Investment Advisors LLC Decreases Position in 3M (NYSE:MMM)

OneDigital Investment Advisors LLC cut its position in 3M (NYSE:MMM - Free Report) by 8.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,447 shares of the conglomerate's stock after selling 1,956 shares during the period. OneDigital Investment Advisors LLC's holdings in 3M were worth $2,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Life Planners purchased a new position in 3M during the fourth quarter valued at $25,000. Proficio Capital Partners LLC purchased a new position in 3M during the fourth quarter valued at $26,000. Hazlett Burt & Watson Inc. purchased a new position in shares of 3M in the 4th quarter worth $27,000. Daymark Wealth Partners LLC grew its stake 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 buying an additional 19,552 shares in the last quarter. Finally, Meeder Asset Management Inc. grew 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 worth $40,000 after buying an additional 214 shares in the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other 3M news, Chairman Michael F. Roman sold 49,598 shares of the stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $152.30, for a total transaction of $7,553,775.40. Following the sale, the chairman now owns 180,895 shares of the company's stock, valued at approximately $27,550,308.50. This trade represents a 21.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the stock in a transaction on Monday, January 27th. The shares were sold at an average price of $150.25, for a total value of $247,161.25. Following the sale, the insider now directly owns 5,153 shares in the company, valued at $774,238.25. This trade represents a 24.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,736 shares of company stock valued at $9,081,260 over the last quarter. 0.34% of the stock is owned by corporate insiders.

3M Trading Down 1.1 %

NYSE:MMM traded down $1.58 during midday trading on Friday, hitting $137.30. The stock had a trading volume of 2,141,243 shares, compared to its average volume of 4,175,835. 3M has a one year low of $91.56 and a one year high of $156.35. The company has a market capitalization of $73.89 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 3.30 and a beta of 1.01. The stock has a 50-day moving average of $143.15 and a 200 day moving average of $138.27. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86.

3M (NYSE:MMM - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $5.78 billion. As a group, sell-side analysts forecast that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MMM. JPMorgan Chase & Co. dropped their price objective on shares of 3M from $165.00 to $140.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Royal Bank of Canada lifted their price objective on shares of 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a research note on Wednesday. Barclays lifted their price objective on shares of 3M from $160.00 to $164.00 and gave the stock an "overweight" rating in a research note on Wednesday. Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a research note on Thursday. Finally, Citigroup lowered their target price on shares of 3M from $152.00 to $142.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $147.00.

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.