Marshall Financial Group LLC Takes Position in 3M (NYSE:MMM)

Marshall Financial Group LLC purchased a new position in 3M (NYSE:MMM) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,541 shares of the conglomerate’s stock, valued at approximately $226,000.

A number of other hedge funds also recently bought and sold shares of MMM. RMR Wealth Builders raised its position in shares of 3M by 4.3% during the 1st quarter. RMR Wealth Builders now owns 13,536 shares of the conglomerate’s stock valued at $1,988,000 after buying an additional 554 shares in the last quarter. NorthCrest Asset Manangement LLC raised its position in 3M by 51.8% during the first quarter. NorthCrest Asset Manangement LLC now owns 4,036 shares of the conglomerate’s stock valued at $593,000 after purchasing an additional 1,377 shares during the period. Sapient Capital LLC raised its holdings in 3M by 1.1% during the 1st quarter. Sapient Capital LLC now owns 7,792 shares of the conglomerate’s stock valued at $1,144,000 after buying an additional 84 shares during the period. Sagace Wealth Management LLC purchased a new position in 3M during the first quarter worth $223,000. Finally, Fifth Third Bancorp increased its position in 3M by 0.9% during the first quarter. Fifth Third Bancorp now owns 82,305 shares of the conglomerate’s stock valued at $12,087,000 after acquiring an additional 718 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Wall Street Analysts Forecast Growth

MMM has been the topic of a number of recent analyst reports. Barclays increased their price objective 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. increased their price target on 3M from $140.00 to $167.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. Bank of America boosted their price objective on 3M from $175.00 to $179.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of 3M in a research note on Wednesday. Finally, Royal Bank of Canada lifted their target price on 3M from $98.00 to $100.00 and gave the stock an “underperform” rating in a research report on Wednesday, April 23rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, 3M has an average rating of “Moderate Buy” and a consensus price target of $155.83.

3M Stock Down 1.8%

3M stock opened at $142.17 on Friday. 3M has a 1-year low of $98.26 and a 1-year high of $156.35. The stock has a market capitalization of $76.51 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 3.30 and a beta of 1.03. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The business has a fifty day moving average price of $142.25 and a 200-day moving average price of $141.77.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 EPS for the quarter, topping the consensus estimate of $1.77 by $0.11. The business had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.78 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. Equities research analysts forecast that 3M will post 7.8 EPS for the current fiscal year.

3M Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 2.05%. 3M’s dividend payout ratio (DPR) is 36.87%.

Insider Activity at 3M

In other news, EVP Zoe L. Dickson sold 7,915 shares of the company’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $149.02, for a total value of $1,179,493.30. Following the sale, the executive vice president now owns 6,127 shares in the company, valued at $913,045.54. This represents a 56.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Patrick Banovetz sold 7,759 shares of the company’s stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $148.37, for a total value of $1,151,202.83. Following the completion of the sale, the executive vice president now owns 31,372 shares in the company, valued at approximately $4,654,663.64. This represents a 19.83% decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by 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.