Foundations Investment Advisors LLC Buys 724 Shares of 3M (NYSE:MMM)

Foundations Investment Advisors LLC raised its stake in 3M (NYSE:MMM) by 20.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,195 shares of the conglomerate’s stock after acquiring an additional 724 shares during the period. Foundations Investment Advisors LLC’s holdings in 3M were worth $573,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of MMM. Wealthcare Advisory Partners LLC increased its holdings in 3M by 20.7% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 15,988 shares of the conglomerate’s stock valued at $1,696,000 after buying an additional 2,741 shares during the period. Grimes & Company Inc. lifted its stake in 3M by 3.5% during the first quarter. Grimes & Company Inc. now owns 8,945 shares of the conglomerate’s stock worth $949,000 after purchasing an additional 301 shares during the last quarter. Ridgecrest Wealth Partners LLC acquired a new stake in shares of 3M in the 1st quarter valued at $214,000. Town & Country Bank & Trust CO dba First Bankers Trust CO increased its stake in shares of 3M by 20.0% in the 1st quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 6,110 shares of the conglomerate’s stock valued at $648,000 after purchasing an additional 1,017 shares during the last quarter. Finally, Iron Horse Wealth Management LLC raised its holdings in shares of 3M by 505.0% during the 1st quarter. Iron Horse Wealth Management LLC now owns 611 shares of the conglomerate’s stock worth $65,000 after buying an additional 510 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Chairman Michael F. Roman sold 5,675 shares of the stock in a transaction 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 transaction, the chairman now directly owns 174,036 shares of the company’s stock, valued at $21,486,484.56. This 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 related news, CFO Theresa E. Reinseth sold 2,100 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total transaction of $260,652.00. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Michael F. Roman sold 5,675 shares of the firm’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 value of $700,635.50. Following the completion of the sale, the chairman now directly owns 174,036 shares of the company’s stock, valued at $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 NYSE MMM opened at $124.73 on Friday. The company has a market capitalization of $68.52 billion, a PE ratio of 15.75, a P/E/G ratio of 2.42 and a beta of 0.95. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41. 3M has a twelve month low of $72.47 and a twelve month high of $141.34. The firm has a fifty day simple moving average of $133.05 and a 200 day simple moving average of $113.65.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.05. 3M had a return on equity of 104.66% and a net margin of 15.37%. The firm had revenue of $6.29 billion during the quarter, compared to analyst estimates of $6.06 billion. During the same period last year, the company posted $2.68 EPS. The business’s quarterly revenue was down 24.3% on a year-over-year basis. On average, sell-side analysts forecast that 3M will post 7.26 EPS for the current year.

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Monday, August 26th. 3M’s dividend payout ratio (DPR) is 35.35%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MMM shares. Citigroup lifted their target price on 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised shares of 3M from a “hold” rating to a “buy” rating and increased their price objective for the company from $110.00 to $150.00 in a research note on Monday, July 29th. Barclays boosted their target price on shares of 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday. Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a research note on Tuesday. Finally, Bank of America boosted their price objective on 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $135.67.

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.