Linden Thomas Advisory Services LLC Grows Stock Holdings in 3M (NYSE:MMM)

Linden Thomas Advisory Services LLC grew its holdings in 3M (NYSE:MMM) by 6.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,023 shares of the conglomerate’s stock after acquiring an additional 1,136 shares during the period. Linden Thomas Advisory Services LLC’s holdings in 3M were worth $1,970,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in 3M by 15.4% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 110,988 shares of the conglomerate’s stock worth $10,391,000 after buying an additional 14,775 shares in the last quarter. Cornerstone Wealth Group LLC purchased a new stake in 3M during the third quarter worth $3,855,000. Shoker Investment Counsel Inc. boosted its holdings in 3M by 49.7% during the third quarter. Shoker Investment Counsel Inc. now owns 16,747 shares of the conglomerate’s stock worth $1,568,000 after buying an additional 5,561 shares in the last quarter. Diversified Trust Co boosted its holdings in 3M by 1.4% during the fourth quarter. Diversified Trust Co now owns 18,487 shares of the conglomerate’s stock worth $2,021,000 after buying an additional 263 shares in the last quarter. Finally, MWA Asset Management purchased a new position in 3M during the fourth quarter valued at $1,723,000. 65.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at 3M

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of 3M stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total transaction of $39,328.32. Following the completion of the sale, the insider now directly owns 3,966 shares in the company, valued at $366,141.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

MMM has been the topic of several recent analyst reports. Wells Fargo & Company decreased their price objective on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 24th. Mizuho reaffirmed a “neutral” rating and set a $105.00 price objective on shares of 3M in a report on Wednesday, March 27th. Bank of America decreased their price objective on shares of 3M from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Tuesday, April 2nd. Barclays decreased their price objective on shares of 3M from $126.00 to $107.00 and set an “overweight” rating on the stock in a report on Tuesday, April 2nd. Finally, Royal Bank of Canada reduced their target price on shares of 3M from $84.00 to $78.00 and set an “underperform” rating for the company in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, 3M currently has an average rating of “Hold” and an average target price of $104.00.

3M Trading Up 0.5 %

3M stock traded up $0.50 during midday trading on Tuesday, hitting $93.12. 2,459,779 shares of the stock were exchanged, compared to its average volume of 5,786,631. 3M has a fifty-two week low of $71.12 and a fifty-two week high of $95.67. The stock has a market capitalization of $51.53 billion, a price-to-earnings ratio of -7.44, a PEG ratio of 1.63 and a beta of 1.02. The stock’s 50-day simple moving average is $95.72 and its 200 day simple moving average is $97.40. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 2.69.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.11. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The firm had revenue of $8.01 billion during the quarter, compared to analysts’ expectations of $7.69 billion. During the same period last year, the business earned $2.28 earnings per share. 3M’s revenue was down 1.1% compared to the same quarter last year. On average, equities analysts anticipate that 3M will post 8.79 EPS for the current year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 16th were given a dividend of $1.51 per share. This is a boost from 3M’s previous quarterly dividend of $1.50. This represents a $6.04 annualized dividend and a yield of 6.49%. The ex-dividend date of this dividend was Thursday, February 15th. 3M’s dividend payout ratio (DPR) is presently -47.82%.

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.