Pure Financial Advisors LLC Buys 1,278 Shares of 3M Company (NYSE:MMM)

Pure Financial Advisors LLC increased its stake in shares of 3M Company (NYSE:MMM) by 79.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,880 shares of the conglomerate’s stock after acquiring an additional 1,278 shares during the quarter. Pure Financial Advisors LLC’s holdings in 3M were worth $423,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Parkside Financial Bank & Trust increased its holdings in shares of 3M by 1.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 5,153 shares of the conglomerate’s stock valued at $665,000 after purchasing an additional 70 shares in the last quarter. LaSalle St. Investment Advisors LLC grew its stake in 3M by 2.5% in the 4th quarter. LaSalle St. Investment Advisors LLC now owns 2,951 shares of the conglomerate’s stock valued at $381,000 after acquiring an additional 71 shares during the period. NBT Bank N A NY grew its stake in 3M by 0.8% in the 1st quarter. NBT Bank N A NY now owns 9,744 shares of the conglomerate’s stock valued at $1,431,000 after acquiring an additional 79 shares during the period. Cherry Creek Investment Advisors Inc. grew its stake in 3M by 0.8% in the 1st quarter. Cherry Creek Investment Advisors Inc. now owns 10,775 shares of the conglomerate’s stock valued at $1,582,000 after acquiring an additional 83 shares during the period. Finally, Sapient Capital LLC boosted its stake in 3M by 1.1% during the 1st quarter. Sapient Capital LLC now owns 7,792 shares of the conglomerate’s stock worth $1,144,000 after purchasing an additional 84 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

Insider Buying and Selling

In other 3M news, EVP Zoe L. Dickson sold 7,915 shares of the stock in a transaction on 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 completion of the transaction, the executive vice president now owns 6,127 shares in the company, valued at approximately $913,045.54. This represents a 56.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 completion of the transaction, the executive vice president now owns 31,372 shares of the company’s stock, valued at approximately $4,654,663.64. This represents a 19.83% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of 3M in a research note on Friday. Bank of America upped their target price on shares of 3M from $175.00 to $179.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Barclays upped their target price on shares of 3M from $160.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday, April 23rd. Royal Bank Of Canada boosted 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. Finally, Citigroup boosted 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. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.83.

3M Stock Performance

Shares of MMM opened at $152.19 on Friday. The stock has a 50 day moving average price of $144.83 and a 200 day moving average price of $142.76. The company has a quick ratio of 1.25, a current ratio of 1.66 and a debt-to-equity ratio of 2.72. The company has a market capitalization of $81.90 billion, a price-to-earnings ratio of 19.22, a price-to-earnings-growth ratio of 3.13 and a beta of 1.03. 3M Company has a 52-week low of $98.26 and a 52-week high of $156.35.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.11. The business had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.78 billion. 3M had a return on equity of 96.19% and a net margin of 17.79%. Research analysts predict that 3M Company will post 7.8 EPS for the current fiscal year.

3M Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were issued a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.92%. 3M’s payout ratio is currently 36.87%.

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.