3M (NYSE:MMM) Stock Holdings Increased by Capital Advisors Ltd. LLC

Capital Advisors Ltd. LLC lifted its stake in 3M (NYSE:MMM) by 5.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,519 shares of the conglomerate’s stock after purchasing an additional 77 shares during the quarter. Capital Advisors Ltd. LLC’s holdings in 3M were worth $196,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in MMM. Assenagon Asset Management S.A. lifted its position in shares of 3M by 8.9% in the third quarter. Assenagon Asset Management S.A. now owns 22,465 shares of the conglomerate’s stock worth $3,071,000 after purchasing an additional 1,844 shares in the last quarter. NorthCrest Asset Manangement LLC raised its position in 3M by 21.5% during the third quarter. NorthCrest Asset Manangement LLC now owns 2,513 shares of the conglomerate’s stock valued at $343,000 after acquiring an additional 445 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in 3M by 1.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 211,978 shares of the conglomerate’s stock valued at $28,977,000 after acquiring an additional 3,480 shares in the last quarter. Frank Rimerman Advisors LLC raised its position in 3M by 36.8% during the third quarter. Frank Rimerman Advisors LLC now owns 5,181 shares of the conglomerate’s stock valued at $708,000 after acquiring an additional 1,394 shares in the last quarter. Finally, Inscription Capital LLC raised its position in 3M by 41.8% during the third quarter. Inscription Capital LLC now owns 3,329 shares of the conglomerate’s stock valued at $455,000 after acquiring an additional 981 shares in the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.

3M Stock Up 0.3 %

MMM opened at $145.42 on Tuesday. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $155.00. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The firm’s fifty day moving average price is $140.94 and its two-hundred day moving average price is $134.85. The company has a market capitalization of $78.95 billion, a P/E ratio of 19.26, a P/E/G ratio of 3.30 and a beta of 0.96.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $5.77 billion. During the same quarter in the previous year, the company earned $2.42 earnings per share. The business’s revenue was down 25.0% compared to the same quarter last year. On average, analysts anticipate that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.73 per share. The ex-dividend date is Friday, February 14th. This is a boost from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 dividend on an annualized basis and a dividend yield of 2.01%. 3M’s dividend payout ratio (DPR) is presently 38.68%.

Insider Buying and Selling at 3M

In related news, EVP Victoria Clarke sold 1,750 shares of 3M stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $154.22, for a total value of $269,885.00. Following the completion of the transaction, the executive vice president now directly owns 194 shares of the company’s stock, valued at $29,918.68. The trade was a 90.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Theresa E. Reinseth sold 2,309 shares of 3M stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $149.95, for a total value of $346,234.55. Following the completion of the transaction, the chief accounting officer now directly 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 disclosure for this sale can be found here. Over the last three months, insiders sold 113,639 shares of company stock valued at $17,163,446. 0.34% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of 3M in a research report on Wednesday, February 19th. UBS Group raised shares of 3M from a “neutral” rating to a “buy” rating and raised their price objective for the company from $130.00 to $184.00 in a research report on Wednesday, November 13th. Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Bank of America raised their price objective on shares of 3M from $160.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Finally, Royal Bank of Canada reiterated an “underperform” rating and set a $96.00 price target on shares of 3M in a report on Wednesday, January 22nd. Two 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, the company currently has an average rating of “Moderate Buy” and an average price target of $148.87.

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.