Northstar Advisory Group LLC Grows Stock Holdings in 3M (NYSE:MMM)

Northstar Advisory Group LLC boosted its holdings in 3M (NYSE:MMM) by 3.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,538 shares of the conglomerate’s stock after purchasing an additional 709 shares during the quarter. 3M makes up approximately 1.9% of Northstar Advisory Group LLC’s holdings, making the stock its 15th biggest position. Northstar Advisory Group LLC’s holdings in 3M were worth $2,869,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Pallas Capital Advisors LLC grew its holdings in shares of 3M by 68.0% in the first quarter. Pallas Capital Advisors LLC now owns 16,259 shares of the conglomerate’s stock valued at $2,388,000 after purchasing an additional 6,581 shares in the last quarter. CHICAGO TRUST Co NA raised its position in 3M by 1.3% in the 1st quarter. CHICAGO TRUST Co NA now owns 11,498 shares of the conglomerate’s stock worth $1,689,000 after purchasing an additional 146 shares during the period. Moss Adams Wealth Advisors LLC lifted its stake in shares of 3M by 29.3% during the 1st quarter. Moss Adams Wealth Advisors LLC now owns 2,392 shares of the conglomerate’s stock worth $351,000 after acquiring an additional 542 shares during the last quarter. First Citizens Bank & Trust Co. boosted its stake in shares of 3M by 1.5% during the first quarter. First Citizens Bank & Trust Co. now owns 43,059 shares of the conglomerate’s stock valued at $6,324,000 after purchasing an additional 649 shares during the period. Finally, Central Bank & Trust Co. purchased a new stake in 3M in the 1st quarter valued at about $236,000. Institutional investors own 65.25% of the company’s stock.

Insider Buying and Selling at 3M

In related news, EVP John Patrick Banovetz sold 7,759 shares of the company’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $148.37, for a total transaction of $1,151,202.83. Following the completion of the sale, the executive vice president now owns 31,372 shares of the company’s stock, valued at approximately $4,654,663.64. This represents a 19.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Zoe L. Dickson sold 7,915 shares of the business’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $149.02, for a total transaction of $1,179,493.30. Following the completion of the transaction, the executive vice president now owns 6,127 shares in the company, valued at $913,045.54. The trade was a 56.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

3M Stock Down 0.5%

3M stock opened at $145.58 on Monday. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The firm has a market cap of $78.35 billion, a price-to-earnings ratio of 19.28, a price-to-earnings-growth ratio of 3.30 and a beta of 1.03. The business’s 50-day moving average price is $141.18 and its 200 day moving average price is $141.44. 3M has a 52 week low of $98.26 and a 52 week high of $156.35.

3M (NYSE:MMM) last posted its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.11. The business had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.78 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. As a group, sell-side analysts anticipate that 3M will post 7.8 earnings per share for the current year.

3M Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 2.01%. 3M’s dividend payout ratio is presently 36.87%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Bank of America raised their price target on 3M from $175.00 to $179.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Barclays upped their price target on shares of 3M from $160.00 to $164.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. lifted their price objective on shares of 3M from $140.00 to $167.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Citigroup upped their target price on 3M from $141.00 to $160.00 and gave the stock a “neutral” rating in a report on Friday, May 30th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of 3M in a report on Saturday, May 24th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $153.46.

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.