Mcdaniel Terry & Co. Buys Shares of 2,652 3M (NYSE:MMM)

Mcdaniel Terry & Co. purchased a new position in shares of 3M (NYSE:MMM) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,652 shares of the conglomerate’s stock, valued at approximately $342,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. D.A. Davidson & CO. increased its stake in 3M by 16.2% during the third 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. increased its stake in shares of 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. increased its stake in shares of 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 stake in shares of 3M by 40.1% during the third quarter. Ballentine Partners LLC now owns 18,217 shares of the conglomerate’s stock worth $2,490,000 after buying an additional 5,210 shares during the period. Finally, FMR LLC increased its stake in shares of 3M by 88.7% during the third quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock worth $1,225,087,000 after buying an additional 4,212,409 shares during the period. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

3M Trading Up 0.7 %

3M stock opened at $150.11 on Thursday. The stock has a market cap of $81.49 billion, a PE ratio of 19.88, a P/E/G ratio of 3.29 and a beta of 0.96. The stock has a 50-day moving average price of $139.94 and a 200 day moving average price of $134.31. 3M has a 52 week low of $75.40 and a 52 week high of $155.00. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86.

3M (NYSE:MMM) last posted 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. 3M had a return on equity of 100.77% and a net margin of 15.71%. The firm had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.77 billion. During the same quarter last year, the business posted $2.42 EPS. The firm’s quarterly revenue was down 25.0% compared to the same quarter last year. Equities research analysts predict that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th will be paid a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 1.95%. This is a positive change from 3M’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, February 14th. 3M’s dividend payout ratio (DPR) is presently 38.68%.

Insiders Place Their Bets

In other 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 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $149.43, for a total value of $944,098.74. Following the transaction, the insider now directly owns 5,024 shares in the company, valued at $750,736.32. This trade represents a 55.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 113,639 shares of company stock valued at $17,163,446. Insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

MMM has been the topic of a number of recent research reports. Wells Fargo & Company upgraded shares of 3M from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Royal Bank of Canada reiterated an “underperform” rating and issued a $96.00 price target on shares of 3M in a research note on Wednesday, January 22nd. Bank of America increased their price target on shares of 3M from $160.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of 3M in a research note on Wednesday. Finally, UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and increased their price target for the company from $130.00 to $184.00 in a research note on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $148.87.

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.