3M (NYSE:MMM) Shares Purchased by Blair William & Co. IL

Blair William & Co. IL raised its stake in 3M (NYSE:MMM) by 4.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 85,724 shares of the conglomerate’s stock after purchasing an additional 3,481 shares during the period. Blair William & Co. IL’s holdings in 3M were worth $8,760,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MMM. Ausdal Financial Partners Inc. grew its stake in 3M by 6.7% during the 2nd quarter. Ausdal Financial Partners Inc. now owns 3,991 shares of the conglomerate’s stock worth $408,000 after buying an additional 249 shares during the last quarter. Candriam S.C.A. raised its position in 3M by 19.2% in the 2nd quarter. Candriam S.C.A. now owns 38,469 shares of the conglomerate’s stock valued at $3,931,000 after purchasing an additional 6,185 shares during the last quarter. Jade Capital Advisors LLC acquired a new stake in 3M during the 4th quarter worth $4,373,000. True Vision MN LLC purchased a new position in 3M during the 2nd quarter worth $512,000. Finally, Scarborough Advisors LLC acquired a new position in 3M in the fourth quarter valued at $978,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on MMM. Wells Fargo & Company raised their price target on 3M from $100.00 to $110.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 10th. Morgan Stanley began coverage on 3M in a report on Friday, September 6th. They issued an “underweight” rating and a $125.00 target price on the stock. Bank of America increased their price target on 3M from $120.00 to $143.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Argus raised shares of 3M from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada raised their target price on shares of 3M from $93.00 to $95.00 and gave the stock an “underperform” rating in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $124.43.

3M Price Performance

Shares of NYSE:MMM opened at $134.76 on Friday. 3M has a 12 month low of $71.12 and a 12 month high of $135.32. The firm has a market capitalization of $74.57 billion, a price-to-earnings ratio of -10.59, a price-to-earnings-growth ratio of 2.41 and a beta of 0.95. The business’s 50 day simple moving average is $124.63 and its 200-day simple moving average is $107.80. 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 (NYSE:MMM) last posted its earnings results on Friday, July 26th. The conglomerate reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.25. 3M had a return on equity of 112.92% and a net margin of 3.08%. The company had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $5.85 billion. During the same period in the previous year, the business earned $2.17 earnings per share. As a group, equities analysts forecast that 3M will post 7.22 earnings per share for the current fiscal year.

3M Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 26th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.80 annualized dividend and a yield of 2.08%. 3M’s dividend payout ratio (DPR) is currently -22.01%.

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.