Focus Financial Network Inc. Purchases 425 Shares of 3M (NYSE:MMM)

Focus Financial Network Inc. increased its position in 3M (NYSE:MMM) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,128 shares of the conglomerate’s stock after acquiring an additional 425 shares during the quarter. Focus Financial Network Inc.’s holdings in 3M were worth $8,020,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MMM. Livforsakringsbolaget Skandia Omsesidigt increased its position in 3M by 326.7% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,785 shares of the conglomerate’s stock worth $517,000 after acquiring an additional 2,898 shares during the period. Gateway Investment Advisers LLC grew its position in 3M by 58.3% in the 3rd quarter. Gateway Investment Advisers LLC now owns 6,470 shares of the conglomerate’s stock worth $884,000 after purchasing an additional 2,382 shares during the last quarter. Ritholtz Wealth Management increased its holdings in shares of 3M by 57.0% during the 3rd quarter. Ritholtz Wealth Management now owns 7,628 shares of the conglomerate’s stock worth $1,043,000 after purchasing an additional 2,768 shares during the period. Exchange Traded Concepts LLC raised its position in shares of 3M by 1,450.6% during the third quarter. Exchange Traded Concepts LLC now owns 2,419 shares of the conglomerate’s stock valued at $331,000 after buying an additional 2,263 shares during the last quarter. Finally, Sound Income Strategies LLC lifted its stake in shares of 3M by 6.3% in the third quarter. Sound Income Strategies LLC now owns 3,006 shares of the conglomerate’s stock valued at $411,000 after buying an additional 179 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

Insider Transactions at 3M

In other 3M news, EVP Victoria Clarke sold 1,750 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $154.22, for a total transaction of $269,885.00. Following the completion of the sale, the executive vice president now directly owns 194 shares of the company’s stock, valued at approximately $29,918.68. The trade was a 90.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $149.43, for a total transaction of $944,098.74. Following the completion of the transaction, the insider now directly owns 5,024 shares in the company, valued at $750,736.32. This trade represents a 55.70 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,639 shares of company stock worth $17,163,446. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Citigroup boosted their price target on 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Mizuho upped their target price on 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research note on Tuesday, October 22nd. Melius upgraded shares of 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of 3M in a research report on Saturday, February 1st. Two investment 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, 3M presently has a consensus rating of “Moderate Buy” and an average price target of $148.87.

3M Stock Down 0.2 %

NYSE MMM opened at $149.59 on Tuesday. The stock’s 50 day simple moving average is $137.11 and its 200 day simple moving average is $132.92. 3M has a one year low of $75.40 and a one year high of $155.00. The firm has a market cap of $81.21 billion, a PE ratio of 19.81, a price-to-earnings-growth ratio of 3.37 and a beta of 0.96. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08.

3M (NYSE:MMM) last announced its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $5.77 billion. During the same quarter in the prior year, the business earned $2.42 earnings per share. The business’s revenue for the quarter was down 25.0% on a year-over-year basis. As a group, sell-side analysts forecast that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th will be paid a $0.73 dividend. The ex-dividend date is Friday, February 14th. This is an increase from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.95%. 3M’s payout ratio is currently 37.09%.

3M 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.