3M Company (NYSE:MMM) Shares Purchased by Altman Advisors Inc.

Altman Advisors Inc. increased its position in shares of 3M Company (NYSE:MMM) by 0.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,690 shares of the conglomerate’s stock after purchasing an additional 76 shares during the quarter. Altman Advisors Inc.’s holdings in 3M were worth $2,318,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. REAP Financial Group LLC raised its holdings in 3M by 88.7% during the fourth quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate’s stock worth $26,000 after purchasing an additional 94 shares during the last quarter. Curat Global LLC acquired a new position in shares of 3M in the first quarter worth $29,000. Hazlett Burt & Watson Inc. acquired a new position in shares of 3M in the fourth quarter worth $27,000. Pinney & Scofield Inc. acquired a new position in shares of 3M in the fourth quarter worth $28,000. Finally, Intelligent Financial Strategies acquired a new position in shares of 3M in the first quarter worth $42,000. 65.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MMM shares. Wells Fargo & Company boosted their price target on 3M from $150.00 to $170.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. JPMorgan Chase & Co. boosted 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. Weiss Ratings reissued a “hold (c+)” rating on shares of 3M in a report on Saturday. Royal Bank Of Canada boosted their price target on 3M from $98.00 to $100.00 and gave the stock an “underperform” rating in a report on Wednesday, April 23rd. Finally, Barclays boosted their price target on 3M from $164.00 to $170.00 and gave the stock an “overweight” rating in a report on Wednesday, July 9th. 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $156.33.

Insider Transactions at 3M

In other 3M news, EVP Zoe L. Dickson sold 7,915 shares of the business’s stock in a transaction dated 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 owned 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Patrick Banovetz sold 7,759 shares of the business’s 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 sale, the executive vice president directly owned 31,372 shares of the company’s stock, valued at approximately $4,654,663.64. This trade represents a 19.83% decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.

3M Price Performance

Shares of NYSE:MMM opened at $156.73 on Wednesday. The business has a fifty day simple moving average of $148.94 and a 200-day simple moving average of $144.96. 3M Company has a 52 week low of $100.87 and a 52 week high of $159.47. 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 cap of $84.35 billion, a P/E ratio of 19.79, a P/E/G ratio of 3.07 and a beta of 1.02.

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, beating analysts’ consensus estimates of $1.77 by $0.11. 3M had a return on equity of 96.19% and a net margin of 17.79%. The firm had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.78 billion. Equities research analysts forecast that 3M Company will post 7.8 EPS for the current year.

3M Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 1.86%. 3M’s dividend payout ratio (DPR) is presently 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.