3M (NYSE:MMM) Shares Acquired by Clifford Capital Partners LLC

Clifford Capital Partners LLC lifted its position in 3M (NYSE:MMM) by 21.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 171,152 shares of the conglomerate’s stock after acquiring an additional 30,009 shares during the period. 3M accounts for approximately 3.8% of Clifford Capital Partners LLC’s investment portfolio, making the stock its 6th biggest holding. Clifford Capital Partners LLC’s holdings in 3M were worth $17,490,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MMM. Aveo Capital Partners LLC purchased a new stake in 3M in the fourth quarter valued at approximately $219,000. KBC Group NV increased its holdings in 3M by 407.5% in the fourth quarter. KBC Group NV now owns 205,194 shares of the conglomerate’s stock valued at $22,432,000 after buying an additional 164,763 shares in the last quarter. Jones Financial Companies Lllp boosted its position in 3M by 3.5% during the fourth quarter. Jones Financial Companies Lllp now owns 4,736 shares of the conglomerate’s stock worth $518,000 after purchasing an additional 159 shares in the last quarter. Rafferty Asset Management LLC grew its stake in 3M by 5.5% in the 4th quarter. Rafferty Asset Management LLC now owns 46,331 shares of the conglomerate’s stock valued at $5,065,000 after acquiring an additional 2,421 shares during the period. Finally, Holderness Investments Co. increased its stake in shares of 3M by 18.9% during the fourth quarter. Holderness Investments Co. now owns 6,149 shares of the conglomerate’s stock worth $672,000 after purchasing an additional 978 shares in the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Insider Activity at 3M

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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Theresa E. Reinseth sold 2,100 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total transaction of $260,652.00. Following the completion of the transaction, the chief financial officer now directly owns 4,364 shares of the company’s stock, valued at approximately $541,659.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Michael F. Roman sold 5,675 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total value of $700,635.50. Following the transaction, the chairman now directly owns 174,036 shares of the company’s stock, valued at approximately $21,486,484.56. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

3M Stock Up 0.3 %

MMM stock opened at $137.06 on Wednesday. 3M has a 12 month low of $71.12 and a 12 month 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 company has a market cap of $75.84 billion, a price-to-earnings ratio of -10.78, a price-to-earnings-growth ratio of 2.51 and a beta of 0.95. The company has a fifty day moving average price of $129.26 and a 200 day moving average price of $109.91.

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, 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 firm had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $5.85 billion. During the same quarter in the previous year, the firm posted $2.17 EPS. Sell-side analysts expect that 3M will post 7.22 earnings per share for the current year.

3M Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were issued a $0.70 dividend. The ex-dividend date was Monday, August 26th. This represents a $2.80 annualized dividend and a dividend yield of 2.04%. 3M’s dividend payout ratio is currently -22.01%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MMM shares. Morgan Stanley began coverage on shares of 3M in a research note on Friday, September 6th. They set an “underweight” rating and a $125.00 target price on the stock. Wolfe Research raised shares of 3M from a “peer perform” rating to an “outperform” rating and set a $125.00 target price on the stock in a research note on Thursday, June 13th. Wells Fargo & Company upped their price target on 3M from $100.00 to $110.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 10th. Barclays lifted their price objective on 3M from $120.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Finally, Royal Bank of Canada upped their target price on 3M from $93.00 to $95.00 and gave the company an “underperform” rating in a 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 given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target 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.