ShankerValleau Wealth Advisors Inc. Purchases Shares of 1,551 3M (NYSE:MMM)

ShankerValleau Wealth Advisors Inc. acquired a new position in 3M (NYSE:MMM) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,551 shares of the conglomerate’s stock, valued at approximately $212,000. 3M accounts for 0.1% of ShankerValleau Wealth Advisors Inc.’s investment portfolio, making the stock its 29th largest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in MMM. Vanguard Group Inc. lifted its holdings in 3M by 0.8% during the first quarter. Vanguard Group Inc. now owns 49,461,361 shares of the conglomerate’s stock valued at $5,246,367,000 after purchasing an additional 377,703 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of 3M by 11.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,065,242 shares of the conglomerate’s stock valued at $517,617,000 after purchasing an additional 533,520 shares during the period. Pacer Advisors Inc. lifted its stake in shares of 3M by 2.0% during the 2nd quarter. Pacer Advisors Inc. now owns 4,952,878 shares of the conglomerate’s stock valued at $506,135,000 after buying an additional 97,340 shares in the last quarter. AQR Capital Management LLC boosted its holdings in 3M by 18.6% in the 2nd quarter. AQR Capital Management LLC now owns 2,531,422 shares of the conglomerate’s stock worth $258,686,000 after buying an additional 396,773 shares during the period. Finally, Nordea Investment Management AB increased its stake in 3M by 8.2% in the 1st quarter. Nordea Investment Management AB now owns 2,168,811 shares of the conglomerate’s stock worth $228,875,000 after buying an additional 164,236 shares in the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Insiders Place Their Bets

In other 3M news, CFO Theresa E. Reinseth sold 2,100 shares of the 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 sale, the chief financial officer now owns 4,364 shares in the company, valued at $541,659.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other 3M news, CFO Theresa E. Reinseth sold 2,100 shares of the business’s 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 directly owns 4,364 shares of the company’s stock, valued at $541,659.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Michael F. Roman sold 5,675 shares of the firm’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 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

3M Price Performance

Shares of 3M stock opened at $135.00 on Wednesday. The stock has a market cap of $74.70 billion, a price-to-earnings ratio of -10.59, a price-to-earnings-growth ratio of 2.51 and a beta of 0.95. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.08 and a current ratio of 1.36. The stock has a 50 day moving average price of $131.05 and a 200-day moving average price of $110.91. 3M has a one year low of $71.12 and a one year high of $140.72.

3M (NYSE:MMM) last issued its quarterly earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share (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 during the quarter, compared to the consensus estimate of $5.85 billion. During the same period last year, the company earned $2.17 earnings per share. Equities analysts expect that 3M will post 7.22 EPS for the current year.

3M Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 26th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date was Monday, August 26th. 3M’s dividend payout ratio (DPR) is currently -22.01%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Citigroup boosted their price target on 3M from $100.00 to $133.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Bank of America upped their target price on shares of 3M from $120.00 to $143.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Barclays lifted their price target on shares of 3M from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Wolfe Research raised shares of 3M from a “peer perform” rating to an “outperform” rating and set a $125.00 price objective for the company in a report on Thursday, June 13th. Finally, StockNews.com cut 3M from a “buy” rating to a “hold” rating in a report 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 assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.