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

Everpar Advisors LLC boosted its position in 3M (NYSE:MMM) by 9.0% in the 1st quarter, Holdings Channel reports. The firm owned 2,159 shares of the conglomerate’s stock after acquiring an additional 179 shares during the quarter. Everpar Advisors LLC’s holdings in 3M were worth $317,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in MMM. Proficio Capital Partners LLC purchased a new stake in 3M in the 4th quarter valued at $26,000. REAP Financial Group LLC grew its holdings in 3M by 88.7% in the 4th quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate’s stock valued at $26,000 after buying an additional 94 shares in the last quarter. Hazlett Burt & Watson Inc. purchased a new stake in 3M in the 4th quarter valued at $27,000. Pinney & Scofield Inc. purchased a new stake in 3M in the 4th quarter valued at $28,000. Finally, Curat Global LLC purchased a new stake in 3M in the 1st quarter valued at $29,000. 65.25% of the stock is owned by institutional investors and hedge funds.

3M Stock Performance

Shares of 3M stock opened at $142.17 on Friday. The business has a 50-day moving average of $142.25 and a 200 day moving average of $141.84. 3M has a 12 month low of $98.26 and a 12 month high of $156.35. The stock has a market capitalization of $76.51 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 3.30 and a beta of 1.03. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08.

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

3M Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were given a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 2.05%. 3M’s dividend payout ratio is currently 36.87%.

Analysts Set New Price Targets

Several analysts have issued reports on MMM shares. Weiss Ratings restated a “hold (c+)” rating on shares of 3M in a report on Wednesday. Barclays upped their target price on 3M from $160.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday, April 23rd. Citigroup increased their price target on 3M from $141.00 to $160.00 and gave the stock a “neutral” rating in a report on Friday, May 30th. Bank of America increased their price target on 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Finally, JPMorgan Chase & Co. increased their price target on 3M from $140.00 to $167.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $155.83.

Insider Buying and Selling at 3M

In other 3M news, EVP Zoe L. Dickson sold 7,915 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $149.02, for a total value of $1,179,493.30. Following the sale, the executive vice president now owns 6,127 shares of the company’s stock, valued at $913,045.54. This trade represents a 56.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John Patrick Banovetz sold 7,759 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $148.37, for a total value of $1,151,202.83. Following the completion of the sale, the executive vice president now directly owns 31,372 shares in the company, valued at $4,654,663.64. This represents a 19.83% decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.

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.