Widmann Financial Services Inc. Has $570,000 Stock Position in 3M Company $MMM

Widmann Financial Services Inc. grew its position in 3M Company (NYSE:MMM) by 16.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,879 shares of the conglomerate’s stock after purchasing an additional 540 shares during the period. Widmann Financial Services Inc.’s holdings in 3M were worth $570,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Brighton Jones LLC grew its stake in shares of 3M by 26.6% in the fourth quarter. Brighton Jones LLC now owns 8,898 shares of the conglomerate’s stock valued at $1,149,000 after buying an additional 1,872 shares in the last quarter. Berger Financial Group Inc lifted its stake in 3M by 1.7% in the fourth quarter. Berger Financial Group Inc now owns 9,457 shares of the conglomerate’s stock valued at $1,221,000 after acquiring an additional 160 shares during the last quarter. Quarry LP grew its position in shares of 3M by 16.1% in the 4th quarter. Quarry LP now owns 18,660 shares of the conglomerate’s stock valued at $2,409,000 after acquiring an additional 2,582 shares during the period. Beacon Pointe Advisors LLC increased its stake in shares of 3M by 11.3% during the 4th quarter. Beacon Pointe Advisors LLC now owns 91,480 shares of the conglomerate’s stock worth $11,809,000 after purchasing an additional 9,323 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of 3M by 55.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 573,293 shares of the conglomerate’s stock valued at $74,006,000 after purchasing an additional 205,661 shares during the period. 65.25% of the stock is currently owned by institutional investors.

3M Trading Up 2.7%

MMM stock opened at $158.5790 on Monday. 3M Company has a 52 week low of $121.98 and a 52 week high of $164.15. The company has a market capitalization of $84.46 billion, a PE ratio of 22.06, a price-to-earnings-growth ratio of 3.07 and a beta of 1.05. The company’s 50-day simple moving average is $152.00 and its 200 day simple moving average is $147.22. The company has a debt-to-equity ratio of 2.87, a quick ratio of 1.20 and a current ratio of 1.72.

3M (NYSE:MMM) last issued its quarterly earnings data on Friday, July 18th. The conglomerate reported $2.16 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.15. The business had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $6.09 billion. 3M had a net margin of 16.01% and a return on equity of 96.48%. The business’s revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.93 EPS. As a group, sell-side analysts anticipate that 3M Company will post 7.8 earnings per share for the current year.

3M Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Monday, August 25th will be given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 1.8%. 3M’s dividend payout ratio is currently 40.61%.

Insiders Place Their Bets

In other 3M news, insider Christian T. Goralski, Jr. sold 6,165 shares of 3M stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $150.18, for a total value of $925,859.70. Following the completion of the transaction, the insider directly owned 2,900 shares of the company’s stock, valued at $435,522. The trade was a 68.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Theresa E. Reinseth sold 3,477 shares of the company’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $150.63, for a total value of $523,740.51. Following the sale, the chief accounting officer owned 2,561 shares of the company’s stock, valued at approximately $385,763.43. The trade was a 57.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on MMM shares. Citigroup lifted their price target on 3M from $141.00 to $160.00 and gave the stock a “neutral” rating in a report on Friday, May 30th. Barclays set a $170.00 target price on 3M in a report on Friday, July 18th. Weiss Ratings reiterated a “hold (c+)” rating on shares of 3M in a report on Thursday, August 14th. JPMorgan Chase & Co. set a $167.00 price objective on shares of 3M in a research report on Friday, July 18th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating on shares of 3M in a report on Friday, July 18th. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $158.10.

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.