Czech National Bank Acquires 6,461 Shares of 3M (NYSE:MMM)

Czech National Bank lifted its holdings in shares of 3M (NYSE:MMM) by 6.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 111,909 shares of the conglomerate’s stock after purchasing an additional 6,461 shares during the period. Czech National Bank’s holdings in 3M were worth $15,298,000 as of its most recent filing with the SEC.

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

Insider Transactions at 3M

In other news, Chairman Michael F. Roman sold 5,675 shares of 3M 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 in the company, valued at $21,486,484.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other 3M news, CFO Theresa E. Reinseth sold 2,100 shares of the company’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 value of $260,652.00. Following the completion of the transaction, the chief financial officer now directly owns 4,364 shares in the company, valued at $541,659.68. This 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 through this hyperlink. Also, Chairman Michael F. Roman sold 5,675 shares of the company’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 completion of the transaction, the chairman now owns 174,036 shares of the company’s stock, valued at approximately $21,486,484.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

3M Stock Up 0.4 %

3M stock traded up $0.49 during trading hours on Friday, hitting $135.27. The stock had a trading volume of 2,387,396 shares, compared to its average volume of 5,014,242. The company has a quick ratio of 1.08, a current ratio of 1.36 and a debt-to-equity ratio of 2.95. The stock has a market capitalization of $74.85 billion, a P/E ratio of -10.63, a price-to-earnings-growth ratio of 2.51 and a beta of 0.95. 3M has a 12-month low of $71.12 and a 12-month high of $140.72. The stock’s 50-day moving average price is $130.70 and its 200-day moving average price is $110.47.

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

3M Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were paid a $0.70 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.07%. 3M’s dividend payout ratio is presently -22.01%.

Wall Street Analyst Weigh In

MMM has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of 3M from $100.00 to $110.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft raised shares of 3M from a “hold” rating to a “buy” rating and lifted their target price for the company from $110.00 to $150.00 in a research note on Monday, July 29th. Citigroup lifted their target price 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. StockNews.com lowered shares of 3M from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Barclays lifted their price target on shares of 3M from $145.00 to $160.00 and gave the company an “overweight” rating in a research report on Wednesday. Two 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, the company currently has a consensus rating of “Hold” and an average target price of $125.50.

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.