Taurus Asset Management LLC Buys 310 Shares of 3M (NYSE:MMM)

Taurus Asset Management LLC increased its stake in shares of 3M (NYSE:MMM) by 0.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 134,968 shares of the conglomerate’s stock after acquiring an additional 310 shares during the period. 3M comprises about 1.7% of Taurus Asset Management LLC’s portfolio, making the stock its 25th largest position. Taurus Asset Management LLC’s holdings in 3M were worth $17,423,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Tudor Financial Inc. bought a new stake in shares of 3M in the third quarter valued at about $259,000. Sanctuary Advisors LLC raised its position in 3M by 25.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 65,547 shares of the conglomerate’s stock valued at $8,417,000 after buying an additional 13,193 shares during the last quarter. World Investment Advisors LLC lifted its stake in 3M by 22.4% in the 3rd quarter. World Investment Advisors LLC now owns 11,768 shares of the conglomerate’s stock valued at $1,609,000 after acquiring an additional 2,155 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its position in 3M by 255.1% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 78,978 shares of the conglomerate’s stock worth $10,796,000 after acquiring an additional 56,734 shares during the last quarter. Finally, Tidal Investments LLC grew its stake in shares of 3M by 44.7% during the 3rd quarter. Tidal Investments LLC now owns 72,733 shares of the conglomerate’s stock worth $9,943,000 after acquiring an additional 22,461 shares in the last quarter. 65.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MMM has been the topic of a number of research reports. Barclays cut their price objective on shares of 3M from $165.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday. Bank of America increased their price objective on shares of 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. Wells Fargo & Company raised 3M from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Royal Bank of Canada reissued an “underperform” rating and set a $96.00 price target on shares of 3M in a research report on Thursday, February 27th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of 3M in a research report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $147.13.

Insiders Place Their Bets

In related news, CAO Theresa E. Reinseth sold 2,309 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $149.95, for a total transaction of $346,234.55. Following the sale, the chief accounting officer now owns 4,417 shares of the company’s stock, valued at $662,329.15. This represents a 34.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $149.43, for a total value of $944,098.74. Following the transaction, the insider now owns 5,024 shares in the company, valued at approximately $750,736.32. This trade represents a 55.70 % decrease in their position. 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 90 days. Company insiders own 0.34% of the company’s stock.

3M Stock Performance

NYSE MMM opened at $135.97 on Friday. 3M has a 52-week low of $90.17 and a 52-week high of $156.35. The stock has a market cap of $73.33 billion, a PE ratio of 18.01, a P/E/G ratio of 3.30 and a beta of 1.01. The firm has a 50-day moving average of $146.37 and a 200-day moving average of $138.40. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41.

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

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th were issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 2.15%. This is a positive change from 3M’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, February 14th. 3M’s dividend payout ratio is currently 38.68%.

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.