3M (NYSE:MMM) Shares Bought by Capital Advisors Ltd. LLC

Capital Advisors Ltd. LLC grew its stake in shares of 3M (NYSE:MMM) by 6.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,618 shares of the conglomerate’s stock after acquiring an additional 99 shares during the period. Capital Advisors Ltd. LLC’s holdings in 3M were worth $238,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. REAP Financial Group LLC grew its holdings in 3M by 88.7% during the 4th quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate’s stock worth $26,000 after acquiring an additional 94 shares in the last quarter. Curat Global LLC bought a new position in shares of 3M in the 1st quarter worth about $29,000. Hazlett Burt & Watson Inc. bought a new position in shares of 3M in the 4th quarter worth about $27,000. Pinney & Scofield Inc. bought a new position in shares of 3M in the 4th quarter worth about $28,000. Finally, Meeder Asset Management Inc. lifted its position in shares of 3M by 230.1% in the 4th quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate’s stock worth $40,000 after buying an additional 214 shares during the last quarter. 65.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Bank of America raised their price target on shares of 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. JPMorgan Chase & Co. raised their price target on shares of 3M from $140.00 to $167.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. Royal Bank of Canada raised their price target on shares of 3M from $98.00 to $100.00 and gave the stock an “underperform” rating in a research report on Wednesday, April 23rd. Barclays raised 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. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of 3M in a research report on Wednesday. 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 company. According to MarketBeat.com, 3M currently has an average rating of “Moderate Buy” and an average price target of $153.46.

3M Stock Down 1.8%

3M stock opened at $144.60 on Friday. The stock has a market cap of $77.82 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 3.30 and a beta of 1.03. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. The company’s 50-day moving average price is $141.94 and its two-hundred day moving average price is $141.71. 3M has a 52 week low of $98.26 and a 52 week high of $156.35.

3M (NYSE:MMM) last released its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 EPS for the quarter, beating the consensus estimate of $1.77 by $0.11. The firm had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.78 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. On average, analysts expect that 3M will post 7.8 EPS for the current fiscal year.

3M Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were paid a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 2.02%. 3M’s payout ratio is 36.87%.

Insider Buying and Selling at 3M

In other news, EVP John Patrick Banovetz sold 7,759 shares of 3M stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $148.37, for a total value of $1,151,202.83. Following the transaction, the executive vice president now owns 31,372 shares of the company’s stock, valued at $4,654,663.64. The trade was a 19.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Zoe L. Dickson sold 7,915 shares of 3M stock in a transaction that occurred on Thursday, May 15th. The stock was 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 directly owns 6,127 shares in the company, valued at $913,045.54. This represents a 56.37% decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.

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.