3M (NYSE:MMM) Shares Acquired by Silver Oak Securities Incorporated

Silver Oak Securities Incorporated grew its stake in 3M (NYSE:MMM) by 7.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,673 shares of the conglomerate’s stock after acquiring an additional 174 shares during the quarter. Silver Oak Securities Incorporated’s holdings in 3M were worth $292,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of MMM. Briaud Financial Planning Inc acquired a new stake in shares of 3M in the 3rd quarter worth $35,000. Authentikos Wealth Advisory LLC purchased a new position in shares of 3M during the 3rd quarter worth $37,000. CGC Financial Services LLC grew its holdings in shares of 3M by 89.9% during the 4th quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock worth $37,000 after purchasing an additional 160 shares during the period. VisionPoint Advisory Group LLC grew its holdings in shares of 3M by 91.9% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate’s stock worth $42,000 after purchasing an additional 215 shares during the period. Finally, Psagot Value Holdings Ltd. Israel purchased a new position in shares of 3M during the 3rd quarter worth $44,000. 65.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Citigroup increased their price target on 3M from $98.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday. 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 report on Tuesday, April 2nd. StockNews.com upgraded 3M from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 25th. Wells Fargo & Company lowered their target price on 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a report on Wednesday, January 24th. Finally, Royal Bank of Canada raised their target price on 3M from $78.00 to $87.00 and gave the company an “underperform” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $103.70.

Insider Transactions at 3M

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the firm’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 sale, the insider now owns 3,966 shares of the company’s stock, valued at approximately $366,141.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

3M Price Performance

MMM stock opened at $98.42 on Thursday. The company has a debt-to-equity ratio of 4.17, a current ratio of 1.64 and a quick ratio of 0.76. The firm has a market capitalization of $54.46 billion, a P/E ratio of -7.74, a P/E/G ratio of 2.13 and a beta of 1.00. The business’s 50-day moving average is $95.96 and its two-hundred day moving average is $97.55. 3M has a 1 year low of $71.12 and a 1 year high of $99.70.

3M (NYSE:MMM) last issued its earnings results on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.29. 3M had a positive return on equity of 95.80% and a negative net margin of 21.57%. The business had revenue of $8 billion for the quarter, compared to analyst estimates of $7.64 billion. During the same quarter last year, the company earned $1.97 EPS. Analysts anticipate that 3M will post 7.05 earnings per share for the current fiscal year.

3M Increases Dividend

The firm 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 represents a $6.04 annualized dividend and a dividend yield of 6.14%. The ex-dividend date was Thursday, February 15th. This is a positive change from 3M’s previous quarterly dividend of $1.50. 3M’s dividend payout ratio (DPR) is -47.48%.

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.