Brueske Advisory Services LLC Takes $216,000 Position in 3M Company (NYSE:MMM)

Brueske Advisory Services LLC purchased a new stake in shares of 3M Company (NYSE:MMM) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,471 shares of the conglomerate’s stock, valued at approximately $216,000.

A number of other large investors have also made changes to their positions in MMM. Brighton Jones LLC increased its stake in 3M by 26.6% in the 4th quarter. Brighton Jones LLC now owns 8,898 shares of the conglomerate’s stock valued at $1,149,000 after buying an additional 1,872 shares during the period. Pinnacle Financial Partners Inc increased its stake in 3M by 2.3% in the 4th quarter. Pinnacle Financial Partners Inc now owns 13,157 shares of the conglomerate’s stock valued at $1,745,000 after buying an additional 300 shares during the period. Fisher Funds Management LTD acquired a new position in 3M in the 4th quarter valued at approximately $4,951,000. WESPAC Advisors LLC increased its stake in 3M by 176.1% in the 4th quarter. WESPAC Advisors LLC now owns 11,770 shares of the conglomerate’s stock valued at $1,519,000 after buying an additional 7,507 shares during the period. Finally, Pavion Blue Capital LLC increased its stake in 3M by 7.5% in the 4th quarter. Pavion Blue Capital LLC now owns 6,681 shares of the conglomerate’s stock valued at $862,000 after buying an additional 465 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MMM shares. JPMorgan Chase & Co. upped their price objective on shares of 3M from $140.00 to $167.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. Citigroup increased their price target on shares of 3M from $141.00 to $160.00 and gave the stock a “neutral” rating in a research note on Friday, May 30th. Bank of America increased their price target on shares of 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. Weiss Ratings restated a “hold (c+)” rating on shares of 3M in a research note on Wednesday, June 11th. Finally, Royal Bank Of Canada increased their price target on shares of 3M from $98.00 to $100.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $155.83.

Insiders Place Their Bets

In other 3M news, EVP John Patrick Banovetz sold 7,759 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now directly owns 31,372 shares in the company, valued at $4,654,663.64. This trade represents a 19.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Zoe L. Dickson sold 7,915 shares of the firm’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 completion of the sale, the executive vice president now owns 6,127 shares in the company, valued at $913,045.54. This represents a 56.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.

3M Price Performance

NYSE MMM opened at $143.85 on Monday. The company has a current ratio of 1.66, a quick ratio of 1.25 and a debt-to-equity ratio of 2.72. The company has a fifty day simple moving average of $143.11 and a 200 day simple moving average of $142.28. The company has a market cap of $77.42 billion, a P/E ratio of 18.16, a P/E/G ratio of 2.99 and a beta of 1.03. 3M Company has a 1 year low of $98.26 and a 1 year high of $156.35.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.11. The company had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.78 billion. 3M had a net margin of 17.79% and a return on equity of 96.19%. On average, sell-side analysts predict that 3M Company will post 7.8 EPS 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 annualized dividend and a yield of 2.03%. 3M’s dividend payout ratio is 36.87%.

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.