3M (NYSE:MMM) Shares Bought by Ingalls & Snyder LLC

Ingalls & Snyder LLC raised its holdings in 3M (NYSE:MMMFree Report) by 7.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 2,490 shares of the conglomerate’s stock after acquiring an additional 177 shares during the period. Ingalls & Snyder LLC’s holdings in 3M were worth $272,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in MMM. Financial Freedom LLC acquired a new stake in shares of 3M during the 4th quarter worth $25,000. DHJJ Financial Advisors Ltd. purchased a new stake in 3M during the 3rd quarter worth $28,000. Briaud Financial Planning Inc purchased a new stake in 3M during the 3rd quarter worth $35,000. Authentikos Wealth Advisory LLC purchased a new stake in 3M during the 3rd quarter worth $37,000. Finally, CGC Financial Services LLC boosted its position in 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. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Trading Down 2.0 %

NYSE MMM opened at $91.31 on Monday. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 2.69. 3M has a 12 month low of $71.12 and a 12 month high of $95.67. The company’s 50 day simple moving average is $95.95 and its 200 day simple moving average is $97.34.

3M (NYSE:MMMGet Free Report) last posted its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.11. The firm had revenue of $8.01 billion for the quarter, compared to analyst estimates of $7.69 billion. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.28 earnings per share. On average, analysts anticipate that 3M will post 8.79 EPS for the current year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 6.61%. This is a boost from 3M’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Thursday, February 15th. 3M’s payout ratio is presently -47.82%.

Insiders Place Their Bets

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of 3M stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total transaction of $39,328.32. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

MMM has been the subject of a number of research reports. Citigroup upped their price target on shares of 3M from $95.31 to $98.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Mizuho reissued a “neutral” rating and issued a $105.00 price objective on shares of 3M in a research report on Wednesday, March 27th. Wells Fargo & Company decreased their price objective on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 24th. Barclays decreased their price objective on shares of 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a research report on Tuesday, April 2nd. Finally, StockNews.com assumed coverage on shares of 3M in a research note on Thursday, April 4th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $103.50.

Get Our Latest Stock Analysis on MMM

About 3M

(Free Report)

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.

See Also

Institutional Ownership by Quarter for 3M (NYSE:MMM)

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