Xponance Inc. Purchases 3,132 Shares of 3M (NYSE:MMM)

Xponance Inc. increased its position in shares of 3M (NYSE:MMM) by 4.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,770 shares of the conglomerate’s stock after purchasing an additional 3,132 shares during the period. Xponance Inc.’s holdings in 3M were worth $7,955,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of MMM. Markel Corp increased its holdings in 3M by 6.5% in the 1st quarter. Markel Corp now owns 269,750 shares of the conglomerate’s stock valued at $40,161,000 after acquiring an additional 16,550 shares during the last quarter. Axiom Financial Strategies LLC increased its holdings in 3M by 5.3% in the 1st quarter. Axiom Financial Strategies LLC now owns 6,513 shares of the conglomerate’s stock valued at $942,000 after acquiring an additional 326 shares during the last quarter. Dakota Wealth Management bought a new stake in 3M in the 1st quarter valued at $246,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in 3M by 17.6% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,532 shares of the conglomerate’s stock valued at $972,000 after acquiring an additional 977 shares during the last quarter. Finally, Covestor Ltd increased its holdings in 3M by 73.0% in the 1st quarter. Covestor Ltd now owns 1,275 shares of the conglomerate’s stock valued at $190,000 after acquiring an additional 538 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors.

Insider Activity

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

3M Price Performance

3M stock opened at $92.35 on Friday. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.07 and a quick ratio of 0.76. 3M has a 1 year low of $71.12 and a 1 year high of $95.67. The firm has a 50-day moving average of $95.76 and a two-hundred day moving average of $97.24.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.11. The company had revenue of $8.01 billion during the quarter, compared to analysts’ expectations of $7.69 billion. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.28 EPS. Equities analysts anticipate that 3M will post 8.79 EPS for the current fiscal year.

3M Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th were issued a $1.51 dividend. The ex-dividend date was Thursday, February 15th. This represents a $6.04 annualized dividend and a dividend yield of 6.54%. This is a positive change from 3M’s previous quarterly dividend of $1.50. 3M’s payout ratio is currently -47.82%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MMM. Bank of America reduced their price target on shares of 3M from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Tuesday, April 2nd. Citigroup lifted their price objective on shares of 3M from $95.31 to $98.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Wells Fargo & Company dropped their price objective on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 24th. JPMorgan Chase & Co. dropped their price objective on shares of 3M from $118.00 to $110.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Mizuho reaffirmed a “neutral” rating and set a $105.00 price target on shares of 3M in a research note on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $104.00.

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.