RWA Wealth Partners LLC Has $3.14 Million Stake in 3M (NYSE:MMM)

RWA Wealth Partners LLC lifted its position in 3M (NYSE:MMM) by 436.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,740 shares of the conglomerate’s stock after purchasing an additional 23,378 shares during the quarter. RWA Wealth Partners LLC’s holdings in 3M were worth $3,142,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Ziegler Capital Management LLC lifted its holdings in shares of 3M by 2.6% during the third quarter. Ziegler Capital Management LLC now owns 19,626 shares of the conglomerate’s stock valued at $1,837,000 after acquiring an additional 491 shares during the period. Exchange Traded Concepts LLC lifted its holdings in shares of 3M by 265,023.1% during the third quarter. Exchange Traded Concepts LLC now owns 68,932 shares of the conglomerate’s stock valued at $6,453,000 after acquiring an additional 68,906 shares during the period. Caprock Group LLC lifted its holdings in shares of 3M by 57.0% during the third quarter. Caprock Group LLC now owns 9,248 shares of the conglomerate’s stock valued at $866,000 after acquiring an additional 3,357 shares during the period. Kessler Investment Group LLC lifted its holdings in shares of 3M by 28.7% during the third quarter. Kessler Investment Group LLC now owns 1,787 shares of the conglomerate’s stock valued at $167,000 after acquiring an additional 399 shares during the period. Finally, Capital Advisory Group Advisory Services LLC bought a new position in shares of 3M during the third quarter valued at $218,000. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MMM has been the subject of a number of analyst reports. Citigroup lifted their price objective on 3M from $95.31 to $98.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Bank of America lowered their target price on 3M from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Tuesday, April 2nd. Mizuho restated a “neutral” rating and issued a $105.00 target price on shares of 3M in a research note on Wednesday, March 27th. JPMorgan Chase & Co. lowered their target price on 3M from $118.00 to $110.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Finally, Royal Bank of Canada lowered their target price on 3M from $84.00 to $78.00 and set an “underperform” rating for the company in a research note on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $104.00.

Insider Transactions at 3M

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total transaction of $39,328.32. Following the completion of the transaction, the insider now directly owns 3,966 shares in the company, valued at approximately $366,141.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.38% of the company’s stock.

3M Price Performance

Shares of MMM stock opened at $93.00 on Wednesday. The stock has a 50-day moving average price of $95.73 and a 200 day moving average price of $97.43. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 2.69. 3M has a 12 month low of $71.12 and a 12 month high of $95.67.

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. The firm had revenue of $8.01 billion during the quarter, compared to analyst estimates of $7.69 billion. 3M had a positive return on equity of 62.45% and a negative net margin of 21.40%. The company’s revenue was down 1.1% on a year-over-year basis. During the same period last year, the company earned $2.28 earnings per share. As a group, analysts predict that 3M will post 7.87 EPS for the current year.

3M Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders 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. This represents a $6.04 annualized dividend and a dividend yield of 6.49%. The ex-dividend date of this dividend was Thursday, February 15th. 3M’s payout ratio is presently -47.82%.

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.