3M (NYSE:MMM) Shares Bought by MBA Advisors LLC

MBA Advisors LLC lifted its stake in shares of 3M (NYSE:MMM) by 11.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 2,867 shares of the conglomerate’s stock after acquiring an additional 286 shares during the period. MBA Advisors LLC’s holdings in 3M were worth $293,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of MMM. Silver Oak Securities Incorporated lifted its holdings in shares of 3M by 7.0% during the 4th quarter. Silver Oak Securities Incorporated now owns 2,673 shares of the conglomerate’s stock worth $292,000 after acquiring an additional 174 shares during the period. Gilbert & Cook Inc. purchased a new position in shares of 3M during the 4th quarter worth about $481,000. Certuity LLC purchased a new position in shares of 3M during the 4th quarter worth about $247,000. Brighton Jones LLC lifted its holdings in shares of 3M by 5.8% during the 4th quarter. Brighton Jones LLC now owns 9,502 shares of the conglomerate’s stock worth $1,039,000 after acquiring an additional 522 shares during the period. Finally, Savant Capital LLC lifted its holdings in shares of 3M by 3.2% during the 4th quarter. Savant Capital LLC now owns 20,441 shares of the conglomerate’s stock worth $2,235,000 after acquiring an additional 643 shares during the period. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MMM has been the topic of several research reports. Vertical Research upgraded shares of 3M from a “hold” rating to a “buy” rating and raised their price target for the company from $92.00 to $140.00 in a report on Thursday, May 16th. StockNews.com lowered shares of 3M from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Bank of America raised their price target on shares of 3M from $120.00 to $143.00 and gave the company a “buy” rating in a report on Monday, July 29th. Citigroup raised their price target on shares of 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Finally, Argus upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, 3M has a consensus rating of “Hold” and an average target price of $123.57.

3M Stock Up 1.3 %

Shares of MMM traded up $1.78 during mid-day trading on Friday, reaching $134.69. 6,092,831 shares of the stock traded hands, compared to its average volume of 5,224,743. The firm has a market cap of $74.53 billion, a price-to-earnings ratio of -10.59, a P/E/G ratio of 2.34 and a beta of 0.95. The stock has a fifty day simple moving average of $114.92 and a 200 day simple moving average of $103.34. 3M has a 12-month low of $71.12 and a 12-month high of $134.99. The company has a quick ratio of 1.08, a current ratio of 1.36 and a debt-to-equity ratio of 2.95.

3M (NYSE:MMM) last released its quarterly earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.25. 3M had a net margin of 3.08% and a return on equity of 112.92%. The business had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $5.85 billion. During the same quarter last year, the company earned $2.17 earnings per share. Sell-side analysts expect that 3M will post 7.21 EPS for the current fiscal year.

3M Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Monday, August 26th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Monday, August 26th. 3M’s payout ratio is currently -22.01%.

Insider Transactions at 3M

In other news, CFO Theresa E. Reinseth sold 2,100 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total transaction of $260,652.00. Following the completion of the sale, the chief financial officer now owns 4,364 shares of the company’s stock, valued at $541,659.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other 3M news, Chairman Michael F. Roman sold 5,675 shares of 3M stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total value of $700,635.50. Following the completion of the transaction, the chairman now owns 174,036 shares of the company’s stock, valued at $21,486,484.56. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Theresa E. Reinseth sold 2,100 shares of 3M stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total transaction of $260,652.00. Following the completion of the transaction, the chief financial officer now directly owns 4,364 shares of the company’s stock, valued at approximately $541,659.68. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

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.