3M (NYSE:MMM) Shares Acquired by WealthTrust Axiom LLC

WealthTrust Axiom LLC increased its holdings in shares of 3M (NYSE:MMMGet Rating) by 5.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,097 shares of the conglomerate’s stock after purchasing an additional 151 shares during the period. WealthTrust Axiom LLC’s holdings in 3M were worth $461,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in MMM. Bigelow Investment Advisors LLC increased its holdings in shares of 3M by 0.7% during the 4th quarter. Bigelow Investment Advisors LLC now owns 8,832 shares of the conglomerate’s stock worth $1,569,000 after purchasing an additional 63 shares during the period. JFS Wealth Advisors LLC boosted its position in shares of 3M by 24.2% during the 4th quarter. JFS Wealth Advisors LLC now owns 328 shares of the conglomerate’s stock valued at $58,000 after acquiring an additional 64 shares in the last quarter. Sierra Capital LLC boosted its position in shares of 3M by 4.0% during the 4th quarter. Sierra Capital LLC now owns 1,681 shares of the conglomerate’s stock valued at $299,000 after acquiring an additional 65 shares in the last quarter. Woodard & Co. Asset Management Group Inc. ADV boosted its position in shares of 3M by 1.4% during the 4th quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 5,035 shares of the conglomerate’s stock valued at $894,000 after acquiring an additional 71 shares in the last quarter. Finally, Investment Advisory Services Inc. TX ADV boosted its position in shares of 3M by 2.7% during the 1st quarter. Investment Advisory Services Inc. TX ADV now owns 2,826 shares of the conglomerate’s stock valued at $421,000 after acquiring an additional 74 shares in the last quarter. 67.22% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other 3M news, insider Michael G. Vale sold 36,771 shares of the business’s stock in a transaction 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 completion of the sale, the insider now owns 65,321 shares in the company, valued at approximately $9,357,886.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Michael G. Vale sold 36,771 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The stock was 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 sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Theresa E. Reinseth sold 795 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $143.32, for a total transaction of $113,939.40. Following the completion of the transaction, the chief accounting officer now owns 1,603 shares in the company, valued at $229,741.96. The disclosure for this sale can be found here. Insiders sold 41,465 shares of company stock worth $5,956,664 in the last quarter. 0.34% of the stock is owned by corporate insiders.

3M Stock Down 0.6 %

MMM traded down $0.83 during trading hours on Friday, hitting $147.29. 115,917 shares of the company’s stock were exchanged, compared to its average volume of 3,236,593. 3M has a 1-year low of $125.60 and a 1-year high of $202.77. The stock’s 50-day moving average is $136.20 and its two-hundred day moving average is $146.60. The stock has a market cap of $83.90 billion, a price-to-earnings ratio of 20.69, a PEG ratio of 1.45 and a beta of 0.97. The company has a quick ratio of 0.90, a current ratio of 1.47 and a debt-to-equity ratio of 1.01.

3M (NYSE:MMMGet Rating) last released its quarterly earnings results on Tuesday, July 26th. The conglomerate reported $2.48 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.01. 3M had a net margin of 11.83% and a return on equity of 39.11%. The business 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 earnings per share. 3M’s revenue for the quarter was down 2.2% compared to the same quarter last year. Sell-side analysts predict that 3M will post 10.4 earnings per share for the current fiscal year.

3M Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 12th. Stockholders of record on Friday, May 20th were given a $1.49 dividend. The ex-dividend date was Thursday, May 19th. This represents a $5.96 dividend on an annualized basis and a dividend yield of 4.05%. 3M’s dividend payout ratio (DPR) is currently 83.24%.

Analyst Ratings Changes

Several brokerages have recently weighed in on MMM. Royal Bank of Canada lifted their target price on shares of 3M from $136.00 to $138.00 and gave the company an “underperform” rating in a research report on Wednesday, April 27th. Citigroup lifted their target price on shares of 3M from $136.00 to $145.00 and gave the company a “neutral” rating in a research report on Wednesday, July 27th. Jefferies Financial Group reduced their price target on shares of 3M from $161.00 to $145.00 in a research report on Thursday, June 16th. Barclays reduced their price target on shares of 3M from $143.00 to $137.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 27th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of 3M from $146.00 to $148.00 and gave the company a “hold” rating in a research report on Wednesday, July 27th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, 3M has an average rating of “Hold” and an average target price of $152.00.

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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