M Holdings Securities Inc. Buys New Shares in 3M (NYSE:MMM)

M Holdings Securities Inc. bought a new stake in 3M (NYSE:MMMGet Rating) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,780 shares of the conglomerate’s stock, valued at approximately $712,000.

Other hedge funds have also added to or reduced their stakes in the company. Landmark Wealth Management LLC bought a new position in 3M in the first quarter valued at $25,000. US Asset Management LLC acquired a new stake in 3M in the first quarter valued at $34,000. First Quadrant LLC CA acquired a new stake in 3M in the first quarter valued at $34,000. Iron Horse Wealth Management LLC lifted its stake in 3M by 125.0% in the first quarter. Iron Horse Wealth Management LLC now owns 288 shares of the conglomerate’s stock valued at $43,000 after acquiring an additional 160 shares during the last quarter. Finally, DeDora Capital Inc. acquired a new stake in 3M in the first quarter valued at $45,000. Institutional investors own 64.90% of the company’s stock.

Analysts Set New Price Targets

MMM has been the subject of a number of recent analyst reports. TheStreet cut shares of 3M from a “b-” rating to a “c+” rating in a research note on Wednesday, June 29th. Bank of America cut their price target on shares of 3M from $165.00 to $140.00 in a research note on Friday, September 2nd. Morgan Stanley raised their target price on shares of 3M from $126.00 to $131.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 27th. Mizuho raised their target price on shares of 3M from $130.00 to $140.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 27th. Finally, Wells Fargo & Company cut their target price on shares of 3M from $144.00 to $125.00 and set an “equal weight” rating for the company in a research note on Thursday, September 8th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $147.43.

3M Price Performance

Shares of 3M stock opened at $116.42 on Friday. 3M has a twelve month low of $115.98 and a twelve month high of $186.30. The company has a quick ratio of 0.90, a current ratio of 1.47 and a debt-to-equity ratio of 1.01. The company has a 50-day simple moving average of $135.19 and a two-hundred day simple moving average of $141.29. The stock has a market capitalization of $66.31 billion, a price-to-earnings ratio of 16.26, a price-to-earnings-growth ratio of 1.22 and a beta of 0.99.

3M (NYSE:MMMGet Rating) last released its earnings results on Tuesday, July 26th. The conglomerate reported $2.48 EPS for the quarter, beating the consensus estimate of $2.47 by $0.01. 3M had a net margin of 11.83% and a return on equity of 39.11%. The firm had revenue of $8.70 billion for the quarter, compared to analyst estimates of $8.70 billion. During the same period last year, the firm earned $2.59 EPS. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. Analysts forecast that 3M will post 10.42 EPS for the current year.

3M Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Monday, August 22nd were issued a $1.49 dividend. This represents a $5.96 annualized dividend and a yield of 5.12%. The ex-dividend date of this dividend was Friday, August 19th. 3M’s dividend payout ratio is currently 83.24%.

Insider Buying and Selling at 3M

In other 3M news, EVP John Patrick Banovetz sold 3,145 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $150.32, for a total value of $472,756.40. Following the transaction, the executive vice president now directly owns 14,084 shares of the company’s stock, valued at approximately $2,117,106.88. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP John Patrick Banovetz sold 3,145 shares of 3M stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $150.32, for a total transaction of $472,756.40. Following the sale, the executive vice president now directly owns 14,084 shares of the company’s stock, valued at approximately $2,117,106.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael G. Vale sold 36,771 shares of 3M stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $143.26, for a total transaction of $5,267,813.46. Following the sale, the insider now directly owns 65,321 shares in the company, valued at $9,357,886.46. The disclosure for this sale can be found here. Insiders have sold a total of 46,121 shares of company stock valued at $6,644,865 in the last ninety days. 0.34% of the stock is currently owned by company insiders.

3M Profile

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3M Company operates as a diversified technology company worldwide. It operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The 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.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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