Socha Financial Group LLC Makes New Investment in 3M (NYSE:MMM)

Socha Financial Group LLC bought a new position in 3M (NYSE:MMM) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,913 shares of the conglomerate’s stock, valued at approximately $209,000. 3M makes up about 0.1% of Socha Financial Group LLC’s portfolio, making the stock its 29th largest holding.

Several other large investors also recently added to or reduced their stakes in MMM. Fragasso Group Inc. boosted its holdings in shares of 3M by 3.8% during the 3rd quarter. Fragasso Group Inc. now owns 2,556 shares of the conglomerate’s stock worth $239,000 after buying an additional 93 shares during the period. Bangor Savings Bank boosted its holdings in shares of 3M by 1.0% during the 4th quarter. Bangor Savings Bank now owns 10,489 shares of the conglomerate’s stock worth $1,147,000 after buying an additional 104 shares during the period. Allen Capital Group LLC boosted its holdings in shares of 3M by 0.5% during the 4th quarter. Allen Capital Group LLC now owns 20,931 shares of the conglomerate’s stock worth $2,288,000 after buying an additional 105 shares during the period. N.E.W. Advisory Services LLC boosted its holdings in shares of 3M by 4.0% during the 3rd quarter. N.E.W. Advisory Services LLC now owns 2,900 shares of the conglomerate’s stock worth $272,000 after buying an additional 111 shares during the period. Finally, Money Concepts Capital Corp boosted its holdings in shares of 3M by 5.3% during the 3rd quarter. Money Concepts Capital Corp now owns 2,244 shares of the conglomerate’s stock worth $210,000 after buying an additional 112 shares during the period. 65.25% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the stock in a transaction dated Wednesday, February 14th. The shares were 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 owns 3,966 shares in the company, valued at approximately $366,141.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.38% of the stock is currently owned by corporate insiders.

3M Price Performance

Shares of MMM stock traded up $0.38 during mid-day trading on Tuesday, reaching $93.00. The company’s stock had a trading volume of 3,706,847 shares, compared to its average volume of 5,803,995. 3M has a 1-year low of $71.12 and a 1-year high of $95.67. The company has a market cap of $51.46 billion, a P/E ratio of -7.36, a PEG ratio of 1.63 and a beta of 1.02. 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 firm’s 50-day moving average is $95.72 and its two-hundred day moving average is $97.40.

3M (NYSE:MMM) last announced its quarterly earnings data 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. 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 business’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.28 EPS. On average, research analysts predict that 3M will post 8.79 earnings per share for the current year.

3M Increases Dividend

The company also recently announced 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. The ex-dividend date was Thursday, February 15th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 6.49%. This is a boost from 3M’s previous quarterly dividend of $1.50. 3M’s dividend payout ratio (DPR) is -47.82%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Citigroup upped their price objective on shares of 3M from $95.31 to $98.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Mizuho reissued a “neutral” rating and issued a $105.00 price target on shares of 3M in a report on Wednesday, March 27th. Royal Bank of Canada reduced their price target on shares of 3M from $84.00 to $78.00 and set an “underperform” rating for the company in a report on Tuesday, April 2nd. Barclays reduced their price target on shares of 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a report on Tuesday, April 2nd. Finally, StockNews.com raised shares of 3M from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 16th. One equities research 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $104.00.

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.