Warwick Investment Management Inc. Boosts Stake in 3M Company $MMM

Warwick Investment Management Inc. boosted its stake in 3M Company (NYSE:MMM) by 2.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,573 shares of the conglomerate’s stock after acquiring an additional 80 shares during the period. Warwick Investment Management Inc.’s holdings in 3M were worth $525,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in MMM. REAP Financial Group LLC increased its position in 3M by 88.7% in the 4th quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate’s stock valued at $26,000 after acquiring an additional 94 shares during the period. Pinney & Scofield Inc. acquired a new position in 3M in the 4th quarter valued at about $28,000. Caitong International Asset Management Co. Ltd acquired a new position in 3M in the 1st quarter valued at about $28,000. Curat Global LLC acquired a new position in 3M in the 1st quarter valued at about $29,000. Finally, Intelligent Financial Strategies acquired a new position in 3M in the 1st quarter valued at about $42,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

Insider Buying and Selling

In related news, insider Christian T. Goralski, Jr. sold 6,165 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $150.18, for a total value of $925,859.70. Following the sale, the insider owned 2,900 shares of the company’s stock, valued at approximately $435,522. This represents a 68.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Theresa E. Reinseth sold 3,477 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $150.63, for a total value of $523,740.51. Following the completion of the sale, the chief accounting officer directly owned 2,561 shares in the company, valued at approximately $385,763.43. The trade was a 57.59% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

3M Stock Performance

MMM opened at $156.47 on Wednesday. The stock has a market cap of $83.34 billion, a P/E ratio of 21.76, a P/E/G ratio of 3.02 and a beta of 1.05. The company has a debt-to-equity ratio of 2.87, a current ratio of 1.72 and a quick ratio of 1.20. The stock’s 50 day simple moving average is $152.50 and its 200 day simple moving average is $147.33. 3M Company has a 1-year low of $121.98 and a 1-year high of $164.15.

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

3M Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Monday, August 25th will be issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.9%. 3M’s dividend payout ratio is currently 40.61%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MMM shares. Citigroup boosted their price target on 3M from $141.00 to $160.00 and gave the company a “neutral” rating in a research report on Friday, May 30th. Wells Fargo & Company reissued an “overweight” rating on shares of 3M in a research note on Friday, July 18th. Barclays set a $170.00 target price on 3M in a research note on Friday, July 18th. JPMorgan Chase & Co. set a $167.00 target price on 3M in a research note on Friday, July 18th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of 3M in a research note on Thursday, August 14th. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $158.10.

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.