3M (NYSE:MMM) Shares Purchased by Investors Asset Management of Georgia Inc. GA ADV

Investors Asset Management of Georgia Inc. GA ADV grew its holdings in shares of 3M (NYSE:MMM) by 6.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,692 shares of the conglomerate’s stock after buying an additional 275 shares during the period. Investors Asset Management of Georgia Inc. GA ADV’s holdings in 3M were worth $512,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MMM. Financial Freedom LLC acquired a new position in 3M during the 4th quarter worth approximately $25,000. Briaud Financial Planning Inc acquired a new position in 3M during the 3rd quarter worth approximately $35,000. Authentikos Wealth Advisory LLC acquired a new position in 3M during the 3rd quarter worth approximately $37,000. CGC Financial Services LLC increased its position in 3M by 89.9% during the 4th quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock worth $37,000 after purchasing an additional 160 shares during the period. Finally, VisionPoint Advisory Group LLC increased its position in 3M by 91.9% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate’s stock worth $42,000 after purchasing an additional 215 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

Insiders Place Their Bets

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total transaction of $39,328.32. Following the transaction, the insider now owns 3,966 shares of the company’s stock, valued at approximately $366,141.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on MMM. StockNews.com upgraded 3M from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Mizuho restated a “neutral” rating and issued a $105.00 price target on shares of 3M in a report on Wednesday, March 27th. Citigroup upped their price target on 3M from $95.31 to $98.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Royal Bank of Canada lowered their price target on 3M from $84.00 to $78.00 and set an “underperform” rating on the stock in a report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. lowered their price target on 3M from $118.00 to $110.00 and set a “neutral” rating on the stock in a report on Wednesday. One analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $104.00.

3M Price Performance

MMM stock traded up $0.19 on Thursday, reaching $91.15. The company had a trading volume of 1,471,287 shares, compared to its average volume of 5,876,985. 3M has a 1 year low of $71.12 and a 1 year high of $95.67. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.76 and a current ratio of 1.07. The company’s fifty day moving average is $95.81 and its 200 day moving average is $97.26. The company has a market cap of $50.44 billion, a P/E ratio of -7.31, a PEG ratio of 1.61 and a beta of 1.02.

3M (NYSE:MMM) last posted its earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.11. 3M had a positive return on equity of 62.45% and a negative net margin of 21.40%. The firm had revenue of $8.01 billion for the quarter, compared to analyst estimates of $7.69 billion. During the same quarter in the prior year, the company earned $2.28 EPS. 3M’s revenue was down 1.1% on a year-over-year basis. On average, research analysts forecast that 3M will post 8.79 earnings per share for the current year.

3M Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 6.63%. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from 3M’s previous quarterly dividend of $1.50. 3M’s dividend payout ratio is currently -47.82%.

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.