3M (NYSE:MMM) Shares Acquired by William Allan Corp

William Allan Corp boosted its holdings in shares of 3M (NYSE:MMM) by 1.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 5,959 shares of the conglomerate’s stock after purchasing an additional 82 shares during the period. William Allan Corp’s holdings in 3M were worth $769,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of MMM. Ameliora Wealth Management Ltd. acquired a new stake in 3M during the 4th quarter worth approximately $97,000. Strategic Financial Concepts LLC acquired a new stake in shares of 3M during the fourth quarter worth $22,481,000. Iron Horse Wealth Management LLC grew its position in 3M by 46.0% in the 4th quarter. Iron Horse Wealth Management LLC now owns 1,520 shares of the conglomerate’s stock valued at $196,000 after buying an additional 479 shares during the last quarter. Silver Oak Securities Incorporated increased its stake in 3M by 12.0% in the 4th quarter. Silver Oak Securities Incorporated now owns 3,028 shares of the conglomerate’s stock valued at $391,000 after buying an additional 325 shares during the period. Finally, Robertson Stephens Wealth Management LLC raised its position in 3M by 2.3% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 5,567 shares of the conglomerate’s stock worth $719,000 after buying an additional 124 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Victoria Clarke sold 1,750 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $154.22, for a total transaction of $269,885.00. Following the sale, the executive vice president now owns 194 shares in the company, valued at $29,918.68. This trade represents a 90.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the company’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $149.43, for a total value of $944,098.74. Following the completion of the transaction, the insider now owns 5,024 shares of the company’s stock, valued at $750,736.32. The trade was a 55.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 113,639 shares of company stock valued at $17,163,446. Company insiders own 0.38% of the company’s stock.

3M Price Performance

Shares of NYSE:MMM opened at $152.28 on Friday. 3M has a one year low of $75.40 and a one year high of $155.00. The stock has a market cap of $82.92 billion, a PE ratio of 20.17, a price-to-earnings-growth ratio of 3.37 and a beta of 0.96. The business’s fifty day moving average price is $136.38 and its two-hundred day moving average price is $132.07. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. The firm had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. The firm’s quarterly revenue was down 25.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.42 EPS. On average, analysts forecast that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 14th will be paid a dividend of $0.73 per share. This is an increase from 3M’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.92 annualized dividend and a dividend yield of 1.92%. 3M’s dividend payout ratio is presently 37.09%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MMM shares. Bank of America boosted their price target on shares of 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. increased their target price on 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research note on Tuesday, October 22nd. Citigroup increased their price objective on 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Finally, Barclays upped their price target on shares of 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $148.87.

3M 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.