TCV Trust & Wealth Management Inc. Acquires 73 Shares of 3M Company (NYSE:MMM)

TCV Trust & Wealth Management Inc. grew its holdings in 3M Company (NYSE:MMM) by 1.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 6,497 shares of the conglomerate’s stock after purchasing an additional 73 shares during the period. TCV Trust & Wealth Management Inc.’s holdings in 3M were worth $954,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC grew its position in 3M by 26.6% during the 4th quarter. Brighton Jones LLC now owns 8,898 shares of the conglomerate’s stock worth $1,149,000 after acquiring an additional 1,872 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in 3M during the 4th quarter worth $352,000. Kovack Advisors Inc. grew its position in 3M by 2.5% during the 4th quarter. Kovack Advisors Inc. now owns 7,104 shares of the conglomerate’s stock worth $917,000 after acquiring an additional 173 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in 3M during the 4th quarter worth $26,000. Finally, QRG Capital Management Inc. grew its position in 3M by 132.9% during the 4th quarter. QRG Capital Management Inc. now owns 33,356 shares of the conglomerate’s stock worth $4,306,000 after acquiring an additional 19,037 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

Insider Transactions at 3M

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 transaction of $1,179,493.30. Following the completion of the transaction, the executive vice president now directly owns 6,127 shares of the company’s stock, valued at approximately $913,045.54. This represents a 56.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 stock was 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 directly owns 31,372 shares of the company’s stock, valued at $4,654,663.64. The trade was a 19.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

3M Stock Up 0.9%

MMM stock opened at $152.19 on Friday. The stock’s 50 day simple moving average is $144.83 and its 200 day simple moving average is $142.76. 3M Company has a fifty-two week low of $98.26 and a fifty-two week high of $156.35. The company has a debt-to-equity ratio of 2.72, a quick ratio of 1.25 and a current ratio of 1.66. The company has a market cap of $81.90 billion, a P/E ratio of 19.22, a price-to-earnings-growth ratio of 3.13 and a beta of 1.03.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.11. The business had revenue of $5.80 billion for 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%. On average, research analysts expect that 3M Company will post 7.8 earnings per share for the current fiscal year.

3M Dividend Announcement

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

Analyst Upgrades and Downgrades

MMM has been the topic of a number of research reports. Bank of America boosted their price objective on 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Citigroup lifted their target price on 3M from $141.00 to $160.00 and gave the stock a “neutral” rating in a report on Friday, May 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of 3M in a report on Friday. Barclays lifted their target price on 3M from $160.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. lifted their target price 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 assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.83.

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.