3M (NYSE:MMM) Shares Purchased by Financial Avengers Inc.

Financial Avengers Inc. raised its stake in 3M (NYSE:MMM) by 474.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 5,541 shares of the conglomerate’s stock after purchasing an additional 4,577 shares during the period. 3M accounts for approximately 0.3% of Financial Avengers Inc.’s holdings, making the stock its 25th biggest holding. Financial Avengers Inc.’s holdings in 3M were worth $715,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Financial Life Planners bought a new position in shares of 3M during the fourth quarter valued at approximately $25,000. Proficio Capital Partners LLC bought a new stake in 3M in the fourth quarter valued at $26,000. Hazlett Burt & Watson Inc. bought a new position in shares of 3M during the fourth quarter worth about $27,000. Daymark Wealth Partners LLC increased its holdings in shares of 3M by 9.0% in the 4th quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 19,552 shares during the period. Finally, Meeder Asset Management Inc. lifted its position in 3M by 230.1% in the 4th quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate’s stock valued at $40,000 after purchasing an additional 214 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Analyst Ratings Changes

MMM has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their target price on shares of 3M from $140.00 to $167.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. Bank of America raised their target price on 3M from $175.00 to $179.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Citigroup lowered their price target on 3M from $152.00 to $142.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, Royal Bank of Canada upped their price objective on shares of 3M from $98.00 to $100.00 and gave the stock an “underperform” rating in a report on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $152.08.

Insider Activity

In related news, EVP Zoe L. Dickson sold 7,915 shares of the company’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $149.02, for a total transaction of $1,179,493.30. Following the transaction, the executive vice president now directly owns 6,127 shares of the company’s stock, valued at approximately $913,045.54. The trade was a 56.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.34% of the company’s stock.

3M Stock Performance

MMM opened at $154.06 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The firm has a market cap of $82.91 billion, a PE ratio of 20.41, a P/E/G ratio of 3.30 and a beta of 1.02. The business has a fifty day simple moving average of $141.84 and a 200-day simple moving average of $139.76. 3M has a fifty-two week low of $96.76 and a fifty-two week high of $156.35.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.11. The business had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.78 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. As a group, equities analysts predict that 3M will post 7.8 EPS for the current fiscal year.

3M Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.90%. 3M’s payout ratio is currently 36.87%.

3M 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.