Vanguard Personalized Indexing Management LLC Raises Stock Holdings in 3M (NYSE:MMM)

Vanguard Personalized Indexing Management LLC raised its position in shares of 3M (NYSE:MMM) by 15.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,443 shares of the conglomerate’s stock after buying an additional 5,331 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in 3M were worth $4,101,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Gilbert & Cook Inc. bought a new position in shares of 3M during the fourth quarter valued at approximately $481,000. Aveo Capital Partners LLC bought a new position in 3M during the 4th quarter valued at approximately $219,000. Corient Private Wealth LLC raised its stake in 3M by 4.6% during the fourth quarter. Corient Private Wealth LLC now owns 285,982 shares of the conglomerate’s stock valued at $31,264,000 after buying an additional 12,448 shares during the last quarter. CreativeOne Wealth LLC boosted its holdings in 3M by 44.3% in the fourth quarter. CreativeOne Wealth LLC now owns 4,977 shares of the conglomerate’s stock worth $544,000 after acquiring an additional 1,527 shares in the last quarter. Finally, Oak Harbor Wealth Partners LLC purchased a new stake in shares of 3M in the fourth quarter worth $208,000. Institutional investors own 65.25% of the company’s stock.

3M Stock Up 0.4 %

Shares of MMM stock opened at $133.84 on Friday. The company has a 50 day simple moving average of $124.02 and a two-hundred day simple moving average of $107.50. The stock has a market cap of $74.06 billion, a P/E ratio of -10.52, a P/E/G ratio of 2.41 and a beta of 0.95. 3M has a 12 month low of $71.12 and a 12 month high of $135.32. The company has a current ratio of 1.36, a quick ratio of 1.08 and a debt-to-equity ratio of 2.95.

3M (NYSE:MMM) last announced 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 analysts’ expectations of $5.85 billion. During the same period last year, the firm earned $2.17 EPS. On average, research analysts expect 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. Investors of record on Monday, August 26th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.09%. The ex-dividend date was Monday, August 26th. 3M’s dividend payout ratio is -22.01%.

Insiders Place Their Bets

In other 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 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. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Chairman Michael F. Roman sold 5,675 shares of 3M 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 owns 174,036 shares in the company, valued at approximately $21,486,484.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 completion of the sale, the chief financial officer now owns 4,364 shares of the company’s stock, valued at approximately $541,659.68. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

MMM has been the subject of several recent analyst reports. Argus raised 3M from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a research report on Tuesday, July 30th. Barclays upped their target price on shares of 3M from $120.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Morgan Stanley began coverage on shares of 3M in a research report on Friday, September 6th. They set an “underweight” rating and a $125.00 price target for the company. Bank of America upped their price objective on 3M from $120.00 to $143.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, StockNews.com lowered 3M from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $124.43.

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.