PFG Investments LLC Purchases 422 Shares of 3M (NYSE:MMM)

PFG Investments LLC raised its position in 3M (NYSE:MMM) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,248 shares of the conglomerate’s stock after acquiring an additional 422 shares during the quarter. PFG Investments LLC’s holdings in 3M were worth $1,968,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of MMM. CVA Family Office LLC grew its position in 3M by 1.9% during the third quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate’s stock valued at $571,000 after buying an additional 79 shares during the period. Wynn Capital LLC boosted its holdings in 3M by 0.7% in the 4th quarter. Wynn Capital LLC now owns 11,690 shares of the conglomerate’s stock worth $1,509,000 after buying an additional 80 shares during the period. Harbour Investments Inc. raised its holdings in 3M by 0.8% during the third quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate’s stock valued at $1,443,000 after acquiring an additional 81 shares during the period. KMG Fiduciary Partners LLC lifted its position in shares of 3M by 0.5% in the third quarter. KMG Fiduciary Partners LLC now owns 16,186 shares of the conglomerate’s stock valued at $2,213,000 after acquiring an additional 84 shares in the last quarter. Finally, TCV Trust & Wealth Management Inc. boosted its stake in shares of 3M by 1.3% in the third quarter. TCV Trust & Wealth Management Inc. now owns 6,464 shares of the conglomerate’s stock worth $884,000 after acquiring an additional 84 shares during the period. 65.25% of the stock is owned by hedge funds and other institutional investors.

3M Stock Performance

3M stock opened at $151.44 on Tuesday. 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 firm has a market capitalization of $82.47 billion, a P/E ratio of 20.06, a price-to-earnings-growth ratio of 2.46 and a beta of 0.95. 3M has a 1-year low of $75.40 and a 1-year high of $152.08. The company’s 50-day moving average is $132.83 and its 200 day moving average is $129.55.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (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 analyst estimates of $5,770,390 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. 3M’s quarterly revenue was down 25.0% compared to the same quarter last year. During the same period last year, the company earned $2.42 EPS. Research analysts forecast that 3M will post 7.66 EPS for the current year.

3M Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend was Friday, November 15th. 3M’s dividend payout ratio is presently 37.09%.

Insider Activity at 3M

In other news, CAO Theresa E. Reinseth sold 2,309 shares of 3M stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $149.95, for a total transaction of $346,234.55. Following the completion of the sale, the chief accounting officer now owns 4,417 shares of the company’s stock, valued at approximately $662,329.15. The trade was a 34.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the business’s stock in a transaction that occurred 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 sale, 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 position. The disclosure for this sale can be found here. Insiders sold 53,903 shares of company stock worth $8,082,186 in the last 90 days. 0.34% of the stock is owned by corporate insiders.

Analyst Ratings Changes

MMM has been the topic of a number of research analyst reports. Melius Research raised 3M from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a report on Tuesday, October 22nd. Melius raised shares of 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Royal Bank of Canada reissued an “underperform” rating and set a $96.00 price target on shares of 3M in a research note on Wednesday, January 22nd. Mizuho lifted their price objective on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Bank of America increased their target price on 3M from $160.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $148.87.

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.