DMKC Advisory Services LLC Makes New Investment in 3M (NYSE:MMM)

DMKC Advisory Services LLC purchased a new stake in shares of 3M (NYSE:MMM) during the 4th quarter, Holdings Channel.com reports. The fund purchased 27,840 shares of the conglomerate’s stock, valued at approximately $3,594,000. 3M makes up 3.3% of DMKC Advisory Services LLC’s portfolio, making the stock its 9th biggest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of MMM. Financial Life Planners bought a new position in 3M in the fourth quarter valued at about $25,000. FSA Wealth Management LLC bought a new stake in shares of 3M during the 3rd quarter valued at about $27,000. Daymark Wealth Partners LLC increased its position in shares of 3M by 9.0% during 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 during the last quarter. ORG Partners LLC lifted its stake in shares of 3M by 44.1% in the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after purchasing an additional 98 shares during the period. Finally, True Wealth Design LLC boosted its holdings in shares of 3M by 2,466.7% in the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock worth $42,000 after buying an additional 296 shares during the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

3M Trading Up 0.7 %

3M stock opened at $146.54 on Wednesday. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The firm’s 50 day moving average price is $141.31 and its 200-day moving average price is $135.01. 3M has a 1 year low of $75.40 and a 1 year high of $155.00. The stock has a market cap of $79.55 billion, a P/E ratio of 19.41, a PEG ratio of 3.30 and a beta of 0.96.

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

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 1.99%. This is a boost from 3M’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, February 14th. 3M’s dividend payout ratio is 38.68%.

Analyst Upgrades and Downgrades

A number of analysts have commented on MMM shares. Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $140.00 to $170.00 in a report on Wednesday, January 22nd. Citigroup upped their price objective on 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. UBS Group raised 3M from a “neutral” rating to a “buy” rating and raised their target price for the stock from $130.00 to $184.00 in a report on Wednesday, November 13th. Royal Bank of Canada reissued an “underperform” rating and set a $96.00 price target on shares of 3M in a report on Wednesday, January 22nd. Finally, Bank of America raised their price objective on 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $148.87.

Insider Activity

In other 3M news, Chairman Michael F. Roman sold 49,598 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $152.30, for a total transaction of $7,553,775.40. Following the sale, the chairman now directly owns 180,895 shares of the company’s stock, valued at $27,550,308.50. The trade was a 21.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Victoria Clarke sold 1,750 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $154.22, for a total value 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 $29,918.68. The trade was a 90.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,639 shares of company stock worth $17,163,446. 0.34% of the stock is currently owned by insiders.

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.