3,642 Shares in 3M (NYSE:MMM) Acquired by Yeomans Consulting Group Inc.

Yeomans Consulting Group Inc. purchased a new stake in shares of 3M (NYSE:MMM) in the third quarter, HoldingsChannel reports. The institutional investor purchased 3,642 shares of the conglomerate’s stock, valued at approximately $498,000.

Other hedge funds also recently modified their holdings of the company. Aviance Capital Partners LLC boosted its position in shares of 3M by 21.2% in the 1st quarter. Aviance Capital Partners LLC now owns 5,288 shares of the conglomerate’s stock valued at $561,000 after purchasing an additional 925 shares during the period. Claro Advisors LLC acquired a new position in shares of 3M in the first quarter worth about $201,000. Tributary Capital Management LLC purchased a new position in shares of 3M in the first quarter worth approximately $25,000. Applied Capital LLC FL raised its holdings in shares of 3M by 6.1% during the first quarter. Applied Capital LLC FL now owns 9,187 shares of the conglomerate’s stock valued at $974,000 after acquiring an additional 526 shares during the period. Finally, Capital Advisors Ltd. LLC lifted its position in shares of 3M by 9.6% in the 1st quarter. Capital Advisors Ltd. LLC now owns 1,367 shares of the conglomerate’s stock valued at $145,000 after acquiring an additional 120 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on MMM shares. Melius upgraded shares of 3M from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Argus raised 3M from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a research report on Tuesday, July 30th. Morgan Stanley initiated coverage on 3M in a research note on Friday, September 6th. They issued an “underweight” rating and a $125.00 price objective for the company. Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a report on Tuesday, October 22nd. Finally, Bank of America raised their target price on shares of 3M from $143.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, 3M presently has a consensus rating of “Hold” and an average target price of $139.27.

Insiders Place Their Bets

In other news, CFO Theresa E. Reinseth sold 2,100 shares of 3M 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 in the company, valued at $541,659.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other 3M 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 value of $260,652.00. Following the transaction, the chief financial officer now directly owns 4,364 shares of the company’s stock, valued at approximately $541,659.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Michael F. Roman sold 5,675 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total transaction of $700,635.50. Following the sale, the chairman now owns 174,036 shares of the company’s stock, valued at $21,486,484.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

3M Price Performance

Shares of MMM traded up $5.71 on Monday, hitting $130.46. The company’s stock had a trading volume of 1,930,869 shares, compared to its average volume of 4,933,760. The company has a 50 day moving average price of $133.00 and a 200 day moving average price of $114.18. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.43 and a quick ratio of 1.08. 3M has a fifty-two week low of $73.15 and a fifty-two week high of $141.34. The company has a market capitalization of $72.19 billion, a PE ratio of -10.11, a PEG ratio of 2.42 and a beta of 0.95.

3M (NYSE:MMM) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.05. The company had revenue of $6.29 billion during the quarter, compared to the consensus estimate of $6.06 billion. 3M had a net margin of 15.37% and a return on equity of 104.66%. The company’s revenue was down 24.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.68 earnings per share. On average, research analysts anticipate that 3M will post 7.26 earnings per share for the current fiscal year.

3M Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 26th were given a $0.70 dividend. The ex-dividend date was Monday, August 26th. This represents a $2.80 dividend on an annualized basis and a yield of 2.15%. 3M’s payout ratio is -22.01%.

3M Company 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.