RWA Wealth Partners LLC Has $16.50 Million Stock Holdings in 3M (NYSE:MMM)

RWA Wealth Partners LLC trimmed its position in 3M (NYSE:MMM) by 4.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 127,840 shares of the conglomerate’s stock after selling 5,838 shares during the quarter. RWA Wealth Partners LLC’s holdings in 3M were worth $16,503,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new position in shares of 3M during the 4th quarter worth $25,000. Proficio Capital Partners LLC acquired a new position in 3M during the fourth quarter worth about $26,000. FSA Wealth Management LLC bought a new position in shares of 3M in the third quarter worth about $27,000. Daymark Wealth Partners LLC boosted 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 valued at $31,000 after purchasing an additional 19,552 shares in the last quarter. Finally, ORG Partners LLC grew its holdings in shares of 3M by 44.1% during the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after purchasing an additional 98 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors.

3M Price Performance

MMM stock opened at $144.74 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The firm has a market cap of $78.58 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 3.30 and a beta of 0.97. The company’s fifty day simple moving average is $149.60 and its 200 day simple moving average is $138.23. 3M has a 12-month low of $88.23 and a 12-month high of $156.35.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The company had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.77 billion. During the same period in the previous year, the business earned $2.42 EPS. The firm’s revenue was down 25.0% compared to the same quarter last year. On average, analysts expect that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders 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 dividend yield of 2.02%. This is a positive change from 3M’s previous quarterly dividend of $0.70. 3M’s payout ratio is currently 38.68%.

Insider Activity at 3M

In related news, CAO Theresa E. Reinseth sold 2,309 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $149.95, for a total value of $346,234.55. Following the completion of the sale, the chief accounting officer now directly owns 4,417 shares of the company’s stock, valued at $662,329.15. The trade was a 34.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Victoria Clarke sold 1,750 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $154.22, for a total value of $269,885.00. Following the transaction, the executive vice president now directly owns 194 shares in the company, valued at approximately $29,918.68. This trade represents a 90.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,639 shares of company stock worth $17,163,446 in the last quarter. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Royal Bank of Canada restated an “underperform” rating and issued a $96.00 target price on shares of 3M in a research report on Thursday, February 27th. Citigroup boosted their price objective on 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. increased their target price on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Barclays upped their price objective on 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Finally, Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $140.00 to $170.00 in a report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.13.

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.