Verum Partners LLC Has $286,000 Stake in 3M (NYSE:MMM)

Verum Partners LLC grew its holdings in 3M (NYSE:MMM) by 15.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,618 shares of the conglomerate’s stock after buying an additional 343 shares during the quarter. Verum Partners LLC’s holdings in 3M were worth $286,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Financial Freedom LLC bought a new position in shares of 3M during the 4th quarter worth approximately $25,000. DHJJ Financial Advisors Ltd. bought a new position in shares of 3M during the third quarter valued at $28,000. Briaud Financial Planning Inc acquired a new stake in shares of 3M in the 3rd quarter valued at $35,000. Authentikos Wealth Advisory LLC acquired a new stake in shares of 3M in the 3rd quarter valued at $37,000. Finally, CGC Financial Services LLC grew its holdings in shares of 3M by 89.9% in the 4th quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock worth $37,000 after purchasing an additional 160 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at 3M

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total transaction of $39,328.32. Following the sale, the insider now directly owns 3,966 shares of the company’s stock, valued at $366,141.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.51% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on MMM shares. Mizuho reaffirmed a “neutral” rating and set a $105.00 price objective on shares of 3M in a research note on Wednesday. Citigroup decreased their price target on 3M from $117.00 to $104.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 24th. Wells Fargo & Company cut their price objective on 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 restated an “underperform” rating and set a $84.00 target price on shares of 3M in a report on Wednesday, March 20th. Finally, StockNews.com began coverage on 3M in a report on Wednesday. They issued a “buy” rating for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $107.60.

3M Stock Up 1.9 %

MMM stock traded up $1.98 during trading hours on Wednesday, reaching $104.61. 3,880,366 shares of the stock were exchanged, compared to its average volume of 5,119,103. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.07 and a quick ratio of 0.76. The company has a market cap of $57.82 billion, a price-to-earnings ratio of -8.26, a PEG ratio of 1.48 and a beta of 1.00. The firm’s 50-day moving average is $96.89 and its 200-day moving average is $97.74. 3M has a 12 month low of $85.35 and a 12 month high of $113.14.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.11. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The business had revenue of $8.01 billion for the quarter, compared to analyst estimates of $7.69 billion. During the same quarter in the previous year, the firm posted $2.28 earnings per share. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, equities research analysts expect that 3M will post 9.77 earnings per share for the current year.

3M Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were given a dividend of $1.51 per share. This is a positive change from 3M’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.04 annualized dividend and a dividend yield of 5.77%. 3M’s payout ratio is -47.82%.

3M Profile

3M Company provides diversified technology services in the United States and internationally. The company operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The 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.