1,881 Shares in 3M (NYSE:MMM) Purchased by Angeles Wealth Management LLC

Angeles Wealth Management LLC acquired a new stake in shares of 3M (NYSE:MMM) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 1,881 shares of the conglomerate’s stock, valued at approximately $257,000.

Several other institutional investors have also added to or reduced their stakes in the business. Mutual Advisors LLC grew its stake in 3M by 33.4% in the 1st quarter. Mutual Advisors LLC now owns 16,461 shares of the conglomerate’s stock valued at $1,746,000 after buying an additional 4,122 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of 3M in the first quarter valued at $937,000. AA Financial Advisors LLC bought a new stake in shares of 3M during the 1st quarter valued at $582,000. Easterly Investment Partners LLC purchased a new stake in 3M during the 1st quarter worth about $8,125,000. Finally, Larson Financial Group LLC boosted its stake in 3M by 4.0% in the 1st quarter. Larson Financial Group LLC now owns 19,407 shares of the conglomerate’s stock worth $2,059,000 after purchasing an additional 742 shares during the period. 65.25% of the stock is owned by hedge funds and other institutional investors.

3M Price Performance

Shares of 3M stock opened at $127.22 on Monday. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41. 3M has a 52 week low of $75.40 and a 52 week high of $141.34. The company has a market cap of $69.28 billion, a PE ratio of 16.06, a P/E/G ratio of 2.07 and a beta of 0.95. The business has a 50 day moving average of $133.00 and a 200 day moving average of $115.48.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.05. 3M had a net margin of 15.37% and a return on equity of 104.66%. The company had revenue of $6.29 billion for the quarter, compared to analysts’ expectations of $6.06 billion. During the same quarter in the previous year, the company earned $2.68 earnings per share. 3M’s quarterly revenue was down 24.3% on a year-over-year basis. As a group, equities research analysts forecast that 3M will post 7.28 earnings per share for the current year.

3M Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date was Monday, August 26th. 3M’s dividend payout ratio is presently 35.35%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on MMM shares. Wells Fargo & Company upped their price target on 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft raised shares of 3M from a “hold” rating to a “buy” rating and raised their price target for the company from $110.00 to $150.00 in a report on Monday, July 29th. Argus raised 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. Finally, Melius upgraded 3M from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $139.27.

Insider Buying and Selling

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 transaction of $260,652.00. Following the completion of the transaction, the chief financial officer now 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 document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Chairman Michael F. Roman sold 5,675 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was 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 in the company, valued at $21,486,484.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Theresa E. Reinseth sold 2,100 shares of 3M stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total value 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 trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

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.