3M Company (NYSE:MMM) Shares Bought by Pin Oak Investment Advisors Inc.

Pin Oak Investment Advisors Inc. raised its stake in 3M Company (NYSE:MMM) by 656.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,498 shares of the conglomerate’s stock after purchasing an additional 1,300 shares during the period. Pin Oak Investment Advisors Inc.’s holdings in 3M were worth $219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of MMM. Brighton Jones LLC raised its position 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 purchasing an additional 1,872 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of 3M by 12.0% during the fourth quarter. American Century Companies Inc. now owns 102,773 shares of the conglomerate’s stock worth $13,267,000 after purchasing an additional 11,032 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of 3M by 15.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 314,194 shares of the conglomerate’s stock worth $40,559,000 after purchasing an additional 42,385 shares during the last quarter. Brown Brothers Harriman & Co. grew its holdings in shares of 3M by 3.8% during the fourth quarter. Brown Brothers Harriman & Co. now owns 24,567 shares of the conglomerate’s stock worth $3,171,000 after purchasing an additional 904 shares during the last quarter. Finally, Allstate Corp purchased a new position in shares of 3M during the fourth quarter worth about $2,101,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

Wall Street Analyst Weigh In

MMM has been the topic of several research reports. Royal Bank Of Canada raised their price objective on 3M from $98.00 to $100.00 and gave the stock an “underperform” rating in a report on Wednesday, April 23rd. Citigroup raised 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. Barclays set a $170.00 price target on 3M in a report on Friday, July 18th. Wells Fargo & Company restated an “overweight” rating on shares of 3M in a research report on Friday, July 18th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of 3M in a research report on Saturday, July 12th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned 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 an average price target of $156.33.

3M Price Performance

MMM stock opened at $151.27 on Monday. The company has a current ratio of 1.72, a quick ratio of 1.20 and a debt-to-equity ratio of 2.87. 3M Company has a 12-month low of $112.68 and a 12-month high of $164.15. The company has a market cap of $80.57 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 3.05 and a beta of 1.02. The firm has a 50 day moving average of $149.99 and a 200-day moving average of $146.31.

3M (NYSE:MMM) last issued its quarterly earnings data on Friday, July 18th. The conglomerate reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.15. 3M had a return on equity of 96.48% and a net margin of 16.01%. The firm had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $6.09 billion. During the same period in the previous year, the firm posted $1.93 EPS. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. As a group, equities analysts expect that 3M Company will post 7.8 EPS for the current fiscal year.

3M Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 1.93%. 3M’s dividend payout ratio is currently 40.61%.

Insider Activity at 3M

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

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.