Wynn Capital LLC Buys 160 Shares of 3M (NYSE:MMM)

Wynn Capital LLC increased its stake in shares of 3M (NYSE:MMM) by 1.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 11,610 shares of the conglomerate’s stock after purchasing an additional 160 shares during the quarter. Wynn Capital LLC’s holdings in 3M were worth $1,587,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of 3M by 326.7% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,785 shares of the conglomerate’s stock valued at $517,000 after purchasing an additional 2,898 shares during the last quarter. Red Mountain Financial LLC bought a new position in 3M in the 3rd quarter valued at $344,000. Freestate Advisors LLC bought a new position in 3M in the 3rd quarter valued at $561,000. Strong Tower Advisory Services grew its position in 3M by 3.6% in the 3rd quarter. Strong Tower Advisory Services now owns 44,695 shares of the conglomerate’s stock valued at $6,110,000 after acquiring an additional 1,552 shares during the last quarter. Finally, San Luis Wealth Advisors LLC grew its position in 3M by 4.7% in the 3rd quarter. San Luis Wealth Advisors LLC now owns 44,050 shares of the conglomerate’s stock valued at $6,022,000 after acquiring an additional 1,980 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on MMM. Bank of America upped their price objective on 3M from $120.00 to $143.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Argus raised 3M from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a research report on Tuesday, July 30th. Citigroup upped their target price on 3M from $100.00 to $133.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Morgan Stanley started coverage on 3M in a report on Friday, September 6th. They issued an “underweight” rating and a $125.00 target price for the company. Finally, StockNews.com cut 3M from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $127.64.

Insiders Place Their Bets

In other 3M news, CFO Theresa E. Reinseth sold 2,100 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 4,364 shares in the company, valued at approximately $541,659.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Chairman Michael F. Roman sold 5,675 shares of the firm’s 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 transaction, the chairman now owns 174,036 shares in the company, valued at $21,486,484.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Theresa E. Reinseth sold 2,100 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total value of $260,652.00. Following the completion of the transaction, the chief financial officer now owns 4,364 shares in the company, valued at approximately $541,659.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

3M Trading Up 1.0 %

3M stock opened at $134.75 on Friday. The stock has a 50-day moving average of $131.53 and a two-hundred day moving average of $111.44. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.08 and a current ratio of 1.36. 3M has a one year low of $71.12 and a one year high of $140.72. The stock has a market cap of $74.57 billion, a PE ratio of -10.59, a price-to-earnings-growth ratio of 2.49 and a beta of 0.95.

3M (NYSE:MMM) last announced its quarterly earnings data on Friday, July 26th. The conglomerate reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.25. The business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.85 billion. 3M had a return on equity of 112.92% and a net margin of 3.08%. During the same period in the prior year, the company earned $2.17 earnings per share. On average, research analysts anticipate that 3M will post 7.24 EPS for the current fiscal year.

3M Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 26th were given a dividend of $0.70 per share. The ex-dividend date was Monday, August 26th. This represents a $2.80 dividend on an annualized basis and a yield of 2.08%. 3M’s dividend payout ratio is currently -22.01%.

3M Company 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.