3M (NYSE:MMM) Shares Purchased by Calamos Advisors LLC

Calamos Advisors LLC raised its stake in 3M (NYSE:MMM) by 118.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 161,155 shares of the conglomerate’s stock after purchasing an additional 87,500 shares during the quarter. Calamos Advisors LLC’s holdings in 3M were worth $20,803,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of MMM. Columbus Macro LLC grew its position in 3M by 54.1% in the 4th quarter. Columbus Macro LLC now owns 18,590 shares of the conglomerate’s stock worth $2,400,000 after purchasing an additional 6,525 shares during the last quarter. Dupree Financial Group LLC boosted its holdings in 3M by 0.4% during the fourth quarter. Dupree Financial Group LLC now owns 27,791 shares of the conglomerate’s stock worth $3,588,000 after buying an additional 103 shares in the last quarter. Childress Capital Advisors LLC grew its holdings in shares of 3M by 5.1% in the 4th quarter. Childress Capital Advisors LLC now owns 1,573 shares of the conglomerate’s stock worth $203,000 after acquiring an additional 76 shares during the last quarter. GEN Financial Management INC. acquired a new stake in 3M during the 4th quarter worth about $373,000. Finally, Hodges Capital Management Inc. lifted its position in shares of 3M by 97.9% in the 4th quarter. Hodges Capital Management Inc. now owns 34,853 shares of the conglomerate’s stock valued at $4,499,000 after acquiring an additional 17,239 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Price Performance

Shares of 3M stock opened at $150.13 on Tuesday. 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 $81.76 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 3.37 and a beta of 0.96. The company’s fifty day simple moving average is $135.21 and its two-hundred day simple moving average is $131.26. 3M has a 12-month low of $75.40 and a 12-month high of $155.00.

3M (NYSE:MMM) last released its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. The company had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. The firm’s revenue for the quarter was down 25.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.42 EPS. As a group, equities analysts expect that 3M will post 7.8 EPS for the current year.

Insider Activity

In other 3M news, insider Christian T. Goralski, Jr. sold 6,318 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $149.43, for a total transaction of $944,098.74. Following the completion of the sale, the insider now owns 5,024 shares of the company’s stock, valued at approximately $750,736.32. The trade was a 55.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Victoria Clarke sold 1,750 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $154.22, for a total transaction of $269,885.00. Following the completion of the transaction, the executive vice president now owns 194 shares of the company’s stock, valued at approximately $29,918.68. The trade was a 90.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,639 shares of company stock worth $17,163,446. Insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on MMM shares. Citigroup increased their target price on shares of 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. boosted their price target on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Melius Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a research report on Tuesday, October 22nd. Melius raised 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Finally, Mizuho lifted their target price on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $148.87.

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.