RIA Advisory Group LLC Sells 357 Shares of 3M (NYSE:MMM)

RIA Advisory Group LLC lowered its position in 3M (NYSE:MMM) by 3.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,704 shares of the conglomerate’s stock after selling 357 shares during the quarter. RIA Advisory Group LLC’s holdings in 3M were worth $1,280,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Institute for Wealth Management LLC. bought a new position in shares of 3M in the fourth quarter worth $224,000. Cutler Investment Counsel LLC bought a new position in 3M in the fourth quarter valued at $212,000. Davidson Trust Co. increased its stake in 3M by 7.1% in the fourth quarter. Davidson Trust Co. now owns 2,361 shares of the conglomerate’s stock valued at $258,000 after acquiring an additional 157 shares during the last quarter. HTLF Bank bought a new position in 3M in the fourth quarter valued at $1,419,000. Finally, Xponance Inc. increased its stake in 3M by 4.5% in the fourth quarter. Xponance Inc. now owns 72,770 shares of the conglomerate’s stock valued at $7,955,000 after acquiring an additional 3,132 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

3M Stock Up 0.9 %

Shares of NYSE MMM traded up $0.79 on Friday, reaching $92.27. 3,558,585 shares of the company’s stock traded hands, compared to its average volume of 5,868,183. 3M has a 12 month low of $71.12 and a 12 month high of $95.67. The business’s 50 day simple moving average is $95.77 and its two-hundred day simple moving average is $97.22. The company has a market cap of $51.06 billion, a price-to-earnings ratio of -7.28, a price-to-earnings-growth ratio of 1.61 and a beta of 1.02. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 2.69.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.11. The company had revenue of $8.01 billion during the quarter, compared to the consensus estimate of $7.69 billion. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.28 earnings per share. As a group, equities research analysts forecast that 3M will post 8.79 EPS for the current fiscal year.

3M Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 16th were given a dividend of $1.51 per share. The ex-dividend date was Thursday, February 15th. This represents a $6.04 annualized dividend and a dividend yield of 6.55%. This is an increase from 3M’s previous quarterly dividend of $1.50. 3M’s dividend payout ratio (DPR) is -47.82%.

Insider Activity at 3M

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of 3M stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total value of $39,328.32. Following the completion of the sale, the insider now owns 3,966 shares of the company’s stock, valued at approximately $366,141.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.34% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have issued reports on MMM. Mizuho restated a “neutral” rating and set a $105.00 price target on shares of 3M in a research report on Wednesday, March 27th. Wells Fargo & Company cut their price target on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 24th. Royal Bank of Canada cut their price target on shares of 3M from $84.00 to $78.00 and set an “underperform” rating for the company in a research report on Tuesday, April 2nd. StockNews.com upgraded shares of 3M from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. cut their price target on shares of 3M from $118.00 to $110.00 and set a “neutral” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $104.00.

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.