St. Louis Financial Planners Asset Management LLC Buys Shares of 10,119 3M (NYSE:MMM)

St. Louis Financial Planners Asset Management LLC purchased a new position in 3M (NYSE:MMM) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,119 shares of the conglomerate’s stock, valued at approximately $1,369,000. 3M comprises about 1.1% of St. Louis Financial Planners Asset Management LLC’s holdings, making the stock its 27th largest holding.

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

Analysts Set New Price Targets

MMM has been the subject of a number of research reports. Citigroup upped their price objective on shares of 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Royal Bank of Canada upped their price target on shares of 3M from $93.00 to $95.00 and gave the company an “underperform” rating in a research report on Monday, July 29th. Wolfe Research raised 3M from a “peer perform” rating to an “outperform” rating and set a $125.00 price objective on the stock in a research note on Thursday, June 13th. Morgan Stanley assumed coverage on 3M in a research note on Friday, September 6th. They issued an “underweight” rating and a $125.00 target price for the company. Finally, StockNews.com lowered 3M from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, 3M currently has an average rating of “Hold” and a consensus price target of $127.64.

Insider Activity

In related news, CFO Theresa E. Reinseth sold 2,100 shares of the company’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 sale, the chief financial officer now directly owns 4,364 shares of the company’s stock, valued at $541,659.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related 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 transaction of $260,652.00. Following the sale, the chief financial officer now owns 4,364 shares of the company’s stock, valued at $541,659.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Michael F. Roman sold 5,675 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total transaction of $700,635.50. Following the completion of the sale, the chairman now owns 174,036 shares in the company, valued at approximately $21,486,484.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

3M Price Performance

Shares of 3M stock opened at $134.69 on Wednesday. The business has a 50 day moving average of $131.05 and a 200 day moving average of $110.91. 3M has a 52 week low of $71.12 and a 52 week high of $140.72. The company has a market cap of $74.53 billion, a PE ratio of -10.59, a P/E/G ratio of 2.51 and a beta of 0.95. The company has a quick ratio of 1.08, a current ratio of 1.36 and a debt-to-equity ratio of 2.95.

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

3M Announces Dividend

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

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.