Elwood & Goetz Wealth Advisory Group LLC acquired a new stake in shares of 3M Co (NYSE:MMM) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,708 shares of the conglomerate’s stock, valued at approximately $325,000. 3M makes up about 0.3% of Elwood & Goetz Wealth Advisory Group LLC’s investment portfolio, making the stock its 23rd largest position.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Penserra Capital Management LLC acquired a new stake in 3M in the fourth quarter valued at approximately $35,000. Intercontinental Wealth Advisors LLC acquired a new stake in 3M in the fourth quarter valued at approximately $38,000. Essex Investment Management Co. LLC acquired a new stake in shares of 3M during the fourth quarter worth $39,000. Westside Investment Management Inc. lifted its stake in shares of 3M by 96.2% during the fourth quarter. Westside Investment Management Inc. now owns 255 shares of the conglomerate’s stock worth $49,000 after buying an additional 125 shares during the period. Finally, Financial Gravity Companies Inc. acquired a new stake in shares of 3M during the fourth quarter worth $72,000. Hedge funds and other institutional investors own 67.03% of the company’s stock.

In other 3M news, insider Paul A. Keel sold 9,410 shares of 3M stock in a transaction on Friday, February 8th. The shares were sold at an average price of $199.14, for a total value of $1,873,907.40. Following the completion of the transaction, the insider now owns 23,009 shares of the company’s stock, valued at $4,582,012.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Inge G. Thulin sold 13,499 shares of 3M stock in a transaction on Wednesday, January 30th. The shares were sold at an average price of $200.00, for a total transaction of $2,699,800.00. Following the completion of the transaction, the chairman now directly owns 230,458 shares of the company’s stock, valued at approximately $46,091,600. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,551 shares of company stock valued at $14,335,468. 0.72% of the stock is currently owned by corporate insiders.

Shares of 3M stock opened at $208.08 on Friday. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.89 and a quick ratio of 1.29. 3M Co has a 1 year low of $176.87 and a 1 year high of $238.17. The firm has a market cap of $119.94 billion, a P/E ratio of 19.89, a price-to-earnings-growth ratio of 1.90 and a beta of 1.06.

3M (NYSE:MMM) last issued its earnings results on Tuesday, January 29th. The conglomerate reported $2.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.28 by $0.03. 3M had a net margin of 16.33% and a return on equity of 57.70%. The firm had revenue of $7.95 billion during the quarter, compared to analysts’ expectations of $7.87 billion. During the same quarter last year, the company posted $2.10 earnings per share. The firm’s revenue was down .6% compared to the same quarter last year. As a group, equities analysts anticipate that 3M Co will post 10.67 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 15th were issued a dividend of $1.44 per share. This represents a $5.76 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend was Thursday, February 14th. This is a boost from 3M’s previous quarterly dividend of $1.36. 3M’s dividend payout ratio (DPR) is 55.07%.

Several research firms have recently commented on MMM. Zacks Investment Research upgraded shares of 3M from a “sell” rating to a “hold” rating in a research note on Wednesday, December 19th. Barclays lowered their price objective on shares of 3M from $195.00 to $190.00 and set an “underweight” rating for the company in a research note on Monday, November 19th. Credit Suisse Group reiterated an “outperform” rating and set a $220.00 price objective (down from $230.00) on shares of 3M in a research note on Thursday, January 3rd. reiterated a “sell” rating on shares of 3M in a research note on Tuesday, February 12th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $213.00 price objective on shares of 3M in a research note on Wednesday, December 19th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. 3M currently has an average rating of “Hold” and a consensus price target of $214.57.

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3M Company Profile

3M Company operates as a diversified technology company worldwide. The company's Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; purification products; closure systems for personal hygiene products; acoustic systems products; automotive components; and abrasion-resistant films, and paint finishing and detailing products.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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