3M (NYSE:MMM) Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of 3M (NYSE:MMM) by 1.7% during the third quarter, HoldingsChannel.com reports. The firm owned 211,978 shares of the conglomerate’s stock after purchasing an additional 3,480 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in 3M were worth $28,977,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Aviance Capital Partners LLC raised its position in 3M by 21.2% during the first quarter. Aviance Capital Partners LLC now owns 5,288 shares of the conglomerate’s stock worth $561,000 after acquiring an additional 925 shares during the period. Claro Advisors LLC acquired a new stake in shares of 3M in the first quarter valued at about $201,000. Tributary Capital Management LLC purchased a new position in shares of 3M in the first quarter worth about $25,000. Applied Capital LLC FL boosted its position in 3M by 6.1% during the first quarter. Applied Capital LLC FL now owns 9,187 shares of the conglomerate’s stock worth $974,000 after acquiring an additional 526 shares during the last quarter. Finally, Capital Advisors Ltd. LLC grew its stake in 3M by 9.6% during the 1st quarter. Capital Advisors Ltd. LLC now owns 1,367 shares of the conglomerate’s stock valued at $145,000 after acquiring an additional 120 shares in the last quarter. 65.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Theresa E. Reinseth sold 2,100 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total transaction of $260,652.00. Following the completion of the transaction, the chief financial officer now directly owns 4,364 shares of the company’s stock, valued at $541,659.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Chairman Michael F. Roman sold 5,675 shares of 3M stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total transaction of $700,635.50. Following the completion of the sale, the chairman now directly owns 174,036 shares of the company’s stock, valued at approximately $21,486,484.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Theresa E. Reinseth sold 2,100 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total value of $260,652.00. Following the completion of the transaction, the chief financial officer now directly owns 4,364 shares in the company, valued at $541,659.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MMM. Argus upgraded 3M from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a report on Tuesday, July 30th. Melius Research raised 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a research note on Tuesday, October 22nd. Melius raised 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Citigroup lifted their price target on 3M from $100.00 to $133.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Finally, Bank of America raised their price objective on shares of 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, 3M has a consensus rating of “Hold” and an average price target of $135.67.

3M Trading Down 1.4 %

Shares of NYSE MMM opened at $124.75 on Monday. The stock has a fifty day simple moving average of $133.00 and a 200-day simple moving average of $114.18. 3M has a twelve month low of $72.47 and a twelve month high of $141.34. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41. The stock has a market capitalization of $69.03 billion, a PE ratio of -9.81, a PEG ratio of 2.42 and a beta of 0.95.

3M (NYSE:MMM) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.05. 3M had a return on equity of 104.66% and a net margin of 15.37%. The company had revenue of $6.29 billion during the quarter, compared to the consensus estimate of $6.06 billion. During the same period in the previous year, the company posted $2.68 EPS. 3M’s revenue was down 24.3% compared to the same quarter last year. On average, equities analysts forecast that 3M will post 7.26 earnings per share for the current year.

3M Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date was Monday, August 26th. 3M’s dividend payout ratio is currently -22.01%.

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.