Aprio Wealth Management LLC Purchases 159 Shares of 3M (NYSE:MMM)

Aprio Wealth Management LLC increased its stake in 3M (NYSE:MMM) by 6.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,682 shares of the conglomerate’s stock after buying an additional 159 shares during the quarter. Aprio Wealth Management LLC’s holdings in 3M were worth $367,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of MMM. Tributary Capital Management LLC bought a new stake in 3M in the first quarter worth $25,000. Financial Synergies Wealth Advisors Inc. lifted its position in shares of 3M by 419.1% during the first 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 last quarter. MFA Wealth Advisors LLC bought a new stake in shares of 3M during the second quarter worth $28,000. Meeder Asset Management Inc. lifted its position in shares of 3M by 689.7% during the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 269 shares during the last quarter. Finally, Northwest Investment Counselors LLC bought a new stake in shares of 3M during the first quarter worth $32,000. 65.25% of the stock is currently owned by institutional investors.

3M Price Performance

MMM opened at $134.69 on Wednesday. The business’s 50-day moving average is $130.89 and its two-hundred day moving average is $110.71. 3M has a 1 year low of $71.12 and a 1 year high of $140.72. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.36 and a quick ratio of 1.08. The firm has a market capitalization of $74.53 billion, a PE ratio of -10.59, a price-to-earnings-growth ratio of 2.51 and a beta of 0.95.

3M (NYSE:MMM) last posted its earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $5.85 billion. During the same quarter in the previous year, the firm earned $2.17 earnings per share. Research analysts anticipate that 3M will post 7.22 earnings per share for the current fiscal year.

3M Dividend Announcement

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

Insiders Place Their Bets

In other 3M news, Chairman Michael F. Roman sold 5,675 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total value of $700,635.50. Following the completion of the sale, the chairman now owns 174,036 shares of the company’s stock, valued at approximately $21,486,484.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 3M news, Chairman Michael F. Roman sold 5,675 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total value of $700,635.50. Following the completion of the sale, the chairman now owns 174,036 shares of the company’s stock, valued at approximately $21,486,484.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Theresa E. Reinseth sold 2,100 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 4,364 shares of the company’s stock, valued at approximately $541,659.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

MMM has been the subject of several research analyst reports. Wolfe Research upgraded 3M from a “peer perform” rating to an “outperform” rating and set a $125.00 target price for the company in a research report on Thursday, June 13th. Deutsche Bank Aktiengesellschaft upgraded 3M from a “hold” rating to a “buy” rating and lifted their target price for the stock from $110.00 to $150.00 in a research report on Monday, July 29th. Citigroup raised their price target on 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Argus upgraded 3M from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a research note on Tuesday, July 30th. Finally, Barclays raised their price target on 3M from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $127.64.

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.