AJOVista LLC Makes New $240,000 Investment in 3M (NYSE:MMM)

AJOVista LLC purchased a new position in shares of 3M (NYSE:MMM) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,198 shares of the conglomerate’s stock, valued at approximately $240,000.

Several other large investors have also recently added to or reduced their stakes in the company. CGC Financial Services LLC increased its position in 3M by 89.9% in the 4th quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock valued at $37,000 after acquiring an additional 160 shares in the last quarter. Briaud Financial Planning Inc acquired a new stake in 3M in the 3rd quarter valued at about $35,000. Authentikos Wealth Advisory LLC acquired a new stake in 3M in the 3rd quarter valued at about $37,000. VisionPoint Advisory Group LLC increased its position in 3M by 91.9% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate’s stock valued at $42,000 after acquiring an additional 215 shares in the last quarter. Finally, Psagot Value Holdings Ltd. Israel acquired a new stake in 3M in the 3rd quarter valued at about $44,000. 65.25% of the stock is owned by institutional investors.

3M Trading Up 0.4 %

3M stock traded up $0.34 during midday trading on Friday, hitting $97.15. 4,818,713 shares of the stock were exchanged, compared to its average volume of 4,770,578. The company has a fifty day simple moving average of $96.14 and a two-hundred day simple moving average of $97.59. 3M has a 52 week low of $71.12 and a 52 week high of $99.70. The stock has a market capitalization of $53.76 billion, a PE ratio of -7.64, a P/E/G ratio of 1.78 and a beta of 1.00. The company has a quick ratio of 0.76, a current ratio of 1.64 and a debt-to-equity ratio of 4.17.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.29. 3M had a negative net margin of 21.57% and a positive return on equity of 95.80%. The firm had revenue of $8 billion for the quarter, compared to analyst estimates of $7.64 billion. During the same quarter in the previous year, the firm posted $1.97 earnings per share. Equities research analysts anticipate that 3M will post 7.23 EPS for the current fiscal year.

3M Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were paid a $1.51 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.04 dividend on an annualized basis and a yield of 6.22%. This is a positive change from 3M’s previous quarterly dividend of $1.50. 3M’s payout ratio is presently -47.48%.

Insider Buying and Selling at 3M

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of 3M stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total value of $39,328.32. Following the transaction, the insider now owns 3,966 shares of the company’s stock, valued at $366,141.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

MMM has been the subject of several research reports. JPMorgan Chase & Co. upgraded shares of 3M from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $110.00 to $111.00 in a research report on Wednesday. Bank of America reduced their target price on shares of 3M from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 2nd. Mizuho reaffirmed a “neutral” rating and issued a $105.00 target price on shares of 3M in a research note on Wednesday, March 27th. Barclays reduced their target price on shares of 3M from $126.00 to $107.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 2nd. Finally, Citigroup raised their target price on shares of 3M from $98.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, 3M currently has a consensus rating of “Hold” and an average target price of $103.70.

About 3M

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.