XTX Topco Ltd Purchases 14,278 Shares of 3M (NYSE:MMM)

XTX Topco Ltd raised its position in shares of 3M (NYSE:MMM) by 56.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,737 shares of the conglomerate’s stock after acquiring an additional 14,278 shares during the period. 3M makes up approximately 0.3% of XTX Topco Ltd’s holdings, making the stock its 17th biggest holding. XTX Topco Ltd’s holdings in 3M were worth $4,061,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tributary Capital Management LLC bought a new stake in 3M during the first quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. boosted its holdings in shares of 3M by 419.1% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock worth $26,000 after purchasing an additional 197 shares during the period. MFA Wealth Advisors LLC bought a new position in shares of 3M during the 2nd quarter valued at approximately $28,000. Meeder Asset Management Inc. raised its holdings in 3M by 689.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock valued at $31,000 after buying an additional 269 shares during the period. Finally, Northwest Investment Counselors LLC bought a new stake in 3M in the first quarter worth $32,000. 65.25% of the stock is owned by hedge funds and other institutional investors.

3M Stock Down 0.2 %

NYSE:MMM opened at $133.35 on Thursday. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.36 and a quick ratio of 1.08. 3M has a 1-year low of $71.12 and a 1-year high of $135.28. The company has a 50-day moving average of $123.40 and a 200 day moving average of $107.32. The firm has a market cap of $73.79 billion, a PE ratio of -10.48, a price-to-earnings-growth ratio of 2.41 and a beta of 0.95.

3M (NYSE:MMM) last announced its quarterly earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.25. 3M had a net margin of 3.08% and a return on equity of 112.92%. The firm had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $5.85 billion. During the same quarter in the prior year, the company earned $2.17 EPS. As a group, research analysts anticipate that 3M will post 7.22 EPS for the current fiscal year.

3M Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were issued a $0.70 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.10%. 3M’s dividend payout ratio is presently -22.01%.

Insider Transactions at 3M

In related news, Chairman Michael F. Roman sold 5,675 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total transaction of $700,635.50. Following the completion of the transaction, the chairman now owns 174,036 shares in the company, valued at approximately $21,486,484.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Chairman Michael F. Roman sold 5,675 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total transaction of $700,635.50. Following the transaction, the chairman now directly owns 174,036 shares in the company, valued at approximately $21,486,484.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Theresa E. Reinseth sold 2,100 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total value of $260,652.00. Following the completion of the sale, the chief financial officer now owns 4,364 shares of the company’s stock, valued at $541,659.68. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Citigroup boosted their price objective on shares of 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Wolfe Research raised shares of 3M from a “peer perform” rating to an “outperform” rating and set a $125.00 price objective on the stock in a research report on Thursday, June 13th. Deutsche Bank Aktiengesellschaft upgraded 3M from a “hold” rating to a “buy” rating and boosted their target price for the company from $110.00 to $150.00 in a research report on Monday, July 29th. Wells Fargo & Company upped their target price on 3M from $100.00 to $110.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 10th. Finally, Barclays raised their price target on 3M from $120.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $124.43.

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.