Bragg Financial Advisors Inc Has $905,000 Stock Holdings in 3M Company $MMM

Bragg Financial Advisors Inc increased its holdings in 3M Company (NYSE:MMM) by 2.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,165 shares of the conglomerate’s stock after purchasing an additional 137 shares during the period. Bragg Financial Advisors Inc’s holdings in 3M were worth $905,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Norinchukin Bank The lifted its position in shares of 3M by 9.1% during the 1st quarter. Norinchukin Bank The now owns 33,684 shares of the conglomerate’s stock worth $4,947,000 after buying an additional 2,812 shares during the period. CW Advisors LLC raised its stake in 3M by 132.5% during the first quarter. CW Advisors LLC now owns 23,486 shares of the conglomerate’s stock worth $3,491,000 after acquiring an additional 13,385 shares in the last quarter. Kaufman Rossin Wealth LLC bought a new position in shares of 3M during the first quarter valued at $409,000. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of 3M by 0.7% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 20,839 shares of the conglomerate’s stock valued at $3,060,000 after acquiring an additional 154 shares during the period. Finally, Tradition Wealth Management LLC boosted its stake in shares of 3M by 2.6% in the 1st quarter. Tradition Wealth Management LLC now owns 45,443 shares of the conglomerate’s stock valued at $6,674,000 after purchasing an additional 1,157 shares in the last quarter. 65.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity at 3M

In other 3M news, CAO Theresa E. Reinseth sold 3,477 shares of 3M stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $150.63, for a total value of $523,740.51. Following the transaction, the chief accounting officer owned 2,561 shares of the company’s stock, valued at approximately $385,763.43. The trade was a 57.59% 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 6,165 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $150.18, for a total value of $925,859.70. Following the transaction, the insider directly owned 2,900 shares in the company, valued at $435,522. This trade represents a 68.01% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. set a $167.00 price target on shares of 3M in a report on Friday, July 18th. Barclays set a $170.00 target price on shares of 3M in a research note on Friday, July 18th. Weiss Ratings restated a “hold (c+)” rating on shares of 3M in a research report on Thursday, August 14th. Citigroup lifted their price objective on 3M from $141.00 to $160.00 and gave the company a “neutral” rating in a research report on Friday, May 30th. Finally, Wells Fargo & Company restated an “overweight” rating on shares of 3M in a report on Friday, July 18th. Seven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, 3M currently has a consensus rating of “Hold” and a consensus price target of $158.10.

3M Stock Performance

3M stock opened at $154.3420 on Friday. The company has a market cap of $82.21 billion, a PE ratio of 21.47, a PEG ratio of 2.99 and a beta of 1.05. The company has a current ratio of 1.72, a quick ratio of 1.20 and a debt-to-equity ratio of 2.87. 3M Company has a 1 year low of $121.98 and a 1 year high of $164.15. The company’s 50-day moving average is $151.67 and its two-hundred day moving average is $147.25.

3M (NYSE:MMM) last posted its quarterly earnings results on Friday, July 18th. The conglomerate reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.15. 3M had a net margin of 16.01% and a return on equity of 96.48%. The business had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $6.09 billion. During the same period in the previous year, the firm posted $1.93 earnings per share. 3M’s revenue for the quarter was up 1.4% compared to the same quarter last year. Equities analysts anticipate that 3M Company will post 7.8 earnings per share for the current year.

3M Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Monday, August 25th will be paid a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 1.9%. 3M’s payout ratio is 40.61%.

3M Company 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.