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

MCF Advisors LLC grew its stake in shares of 3M (NYSE:MMM) by 6.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,787 shares of the conglomerate’s stock after acquiring an additional 288 shares during the quarter. MCF Advisors LLC’s holdings in 3M were worth $523,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Briaud Financial Planning Inc acquired a new position in 3M in the 3rd quarter worth approximately $35,000. Authentikos Wealth Advisory LLC purchased a new stake in 3M in the 3rd quarter worth approximately $37,000. CGC Financial Services LLC boosted its position in 3M by 89.9% in 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 in the last quarter. VisionPoint Advisory Group LLC lifted its position in shares of 3M by 91.9% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate’s stock valued at $42,000 after buying an additional 215 shares in the last quarter. Finally, Psagot Value Holdings Ltd. Israel purchased a new position in shares of 3M during the 3rd quarter valued at approximately $44,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

Insider Buying and Selling

In related news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total transaction of $39,328.32. Following the completion of the sale, the insider now directly owns 3,966 shares of the company’s stock, valued at approximately $366,141.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on 3M from $118.00 to $110.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. StockNews.com raised 3M from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 16th. Barclays reduced their price objective on 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a research note on Tuesday, April 2nd. Royal Bank of Canada reduced their price objective on 3M from $84.00 to $78.00 and set an “underperform” rating for the company in a research note on Tuesday, April 2nd. Finally, Wells Fargo & Company reduced their price objective on 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $104.00.

3M Trading Up 0.3 %

Shares of MMM traded up $0.27 during midday trading on Monday, reaching $92.54. The company had a trading volume of 443,393 shares, compared to its average volume of 5,797,144. 3M has a 1-year low of $71.12 and a 1-year high of $95.67. The stock has a market cap of $51.21 billion, a PE ratio of -7.31, a price-to-earnings-growth ratio of 1.63 and a beta of 1.02. The firm has a 50 day simple moving average of $95.76 and a 200-day simple moving average of $97.36. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 2.69.

3M (NYSE:MMM) last issued its earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share (EPS) for the quarter, topping 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 business had revenue of $8.01 billion during the quarter, compared to the consensus estimate of $7.69 billion. During the same period last year, the company earned $2.28 EPS. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. Research analysts forecast that 3M will post 8.79 EPS for the current fiscal year.

3M Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 16th were given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 6.53%. This is an increase from 3M’s previous quarterly dividend of $1.50. The ex-dividend date was Thursday, February 15th. 3M’s dividend payout ratio (DPR) is presently -47.82%.

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.