3M (NYSE:MMM) Shares Acquired by Calamos Wealth Management LLC

Calamos Wealth Management LLC boosted its position in 3M (NYSE:MMM) by 4.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,194 shares of the conglomerate’s stock after acquiring an additional 103 shares during the quarter. Calamos Wealth Management LLC’s holdings in 3M were worth $283,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. D.A. Davidson & CO. grew its holdings in shares of 3M by 16.2% during the 3rd quarter. D.A. Davidson & CO. now owns 146,333 shares of the conglomerate’s stock worth $20,004,000 after purchasing an additional 20,421 shares during the period. Franklin Resources Inc. grew its stake in 3M by 26.8% during the third quarter. Franklin Resources Inc. now owns 845,401 shares of the conglomerate’s stock worth $114,770,000 after buying an additional 178,450 shares during the period. Meyer Handelman Co. grew its stake in 3M by 1.4% during the fourth quarter. Meyer Handelman Co. now owns 197,618 shares of the conglomerate’s stock worth $25,511,000 after buying an additional 2,678 shares during the period. Ballentine Partners LLC increased its position in shares of 3M by 40.1% in the third quarter. Ballentine Partners LLC now owns 18,217 shares of the conglomerate’s stock worth $2,490,000 after acquiring an additional 5,210 shares in the last quarter. Finally, Stonegate Investment Group LLC lifted its holdings in shares of 3M by 5.6% during the 3rd quarter. Stonegate Investment Group LLC now owns 252,847 shares of the conglomerate’s stock valued at $34,564,000 after acquiring an additional 13,473 shares in the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MMM. Royal Bank of Canada reiterated an “underperform” rating and issued a $96.00 price target on shares of 3M in a report on Wednesday, January 22nd. JPMorgan Chase & Co. increased their target price on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Mizuho boosted their price target on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Citigroup increased their price objective on shares of 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, 3M currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.87.

3M Trading Up 1.1 %

NYSE:MMM opened at $151.73 on Wednesday. 3M has a 52 week low of $75.40 and a 52 week high of $155.00. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The company has a market cap of $82.62 billion, a PE ratio of 20.10, a P/E/G ratio of 3.37 and a beta of 0.96. The business’s 50 day moving average is $135.61 and its two-hundred day moving average is $131.59.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. The firm 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 firm’s revenue was down 25.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.42 earnings per share. On average, analysts predict that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th will be given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.92%. This is a boost from 3M’s previous quarterly dividend of $0.70. 3M’s dividend payout ratio is presently 37.09%.

Insider Buying and Selling

In other 3M news, insider Christian T. Goralski, Jr. sold 6,318 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $149.43, for a total transaction of $944,098.74. Following the completion of the transaction, the insider now directly owns 5,024 shares of the company’s stock, valued at $750,736.32. The trade was a 55.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kevin H. Rhodes sold 6,743 shares of 3M stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $149.85, for a total value of $1,010,438.55. Following the sale, the executive vice president now directly owns 4,902 shares in the company, valued at approximately $734,564.70. This trade represents a 57.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,639 shares of company stock valued at $17,163,446. Insiders own 0.38% of the company’s stock.

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.