Quantbot Technologies LP Makes New Investment in 3M (NYSE:MMM)

Quantbot Technologies LP acquired a new position in 3M (NYSE:MMM) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 40,044 shares of the conglomerate’s stock, valued at approximately $4,092,000.

Several other large investors have also recently bought and sold shares of the business. Tributary Capital Management LLC purchased a new position in shares of 3M in the first quarter valued at $25,000. Financial Synergies Wealth Advisors Inc. increased its position in shares of 3M by 419.1% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock valued at $26,000 after buying an additional 197 shares in the last quarter. MFA Wealth Advisors LLC purchased a new position in shares of 3M in the second quarter valued at $28,000. Meeder Asset Management Inc. increased its position in shares of 3M by 689.7% in the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock valued at $31,000 after buying an additional 269 shares in the last quarter. Finally, Northwest Investment Counselors LLC purchased a new position in shares of 3M in the first quarter valued at $32,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Insider Buying and Selling at 3M

In other news, Chairman Michael F. Roman sold 5,675 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total value of $700,635.50. Following the completion of the transaction, the chairman now directly owns 174,036 shares of the company’s stock, valued at approximately $21,486,484.56. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Theresa E. Reinseth sold 2,100 shares of 3M stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total transaction of $260,652.00. Following the completion of the sale, the chief financial officer now directly owns 4,364 shares of the company’s stock, valued at $541,659.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Michael F. Roman sold 5,675 shares of 3M stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total value of $700,635.50. Following the sale, the chairman now directly owns 174,036 shares of the company’s stock, valued at $21,486,484.56. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

3M Stock Up 1.1 %

Shares of 3M stock opened at $134.61 on Tuesday. The stock’s fifty day moving average is $122.09 and its 200-day moving average is $106.84. The firm has a market capitalization of $74.49 billion, a PE ratio of -10.58, a price-to-earnings-growth ratio of 2.41 and a beta of 0.95. The company has a quick ratio of 1.08, a current ratio of 1.36 and a debt-to-equity ratio of 2.95. 3M has a 12-month low of $71.12 and a 12-month high of $135.28.

3M (NYSE:MMM) last issued its earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.25. 3M had a return on equity of 112.92% and a net margin of 3.08%. The company had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.85 billion. During the same period in the prior year, the firm posted $2.17 EPS. Equities analysts anticipate that 3M will post 7.22 earnings per share for the current year.

3M Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 26th were issued a $0.70 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.80 annualized dividend and a yield of 2.08%. 3M’s dividend payout ratio (DPR) is -22.01%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on MMM shares. Argus upgraded 3M from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised 3M from a “hold” rating to a “buy” rating and lifted their price objective for the company from $110.00 to $150.00 in a research note on Monday, July 29th. Bank of America lifted their price objective on 3M from $120.00 to $143.00 and gave the company a “buy” rating in a research note on Monday, July 29th. StockNews.com lowered 3M from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Citigroup lifted their price objective on 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $124.43.

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.