Mcdaniel Terry & Co. Acquires Shares of 2,652 3M (NYSE:MMM)

Mcdaniel Terry & Co. purchased a new position in 3M (NYSE:MMM) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,652 shares of the conglomerate’s stock, valued at approximately $342,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Gilbert & Cook Inc. increased its stake in 3M by 1.5% in the 4th quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate’s stock worth $659,000 after buying an additional 73 shares during the period. Childress Capital Advisors LLC increased its stake in 3M by 5.1% in the 4th quarter. Childress Capital Advisors LLC now owns 1,573 shares of the conglomerate’s stock worth $203,000 after buying an additional 76 shares during the period. Wynn Capital LLC increased its stake in 3M by 0.7% in the 4th quarter. Wynn Capital LLC now owns 11,690 shares of the conglomerate’s stock worth $1,509,000 after buying an additional 80 shares during the period. Harbour Investments Inc. increased its stake in 3M by 0.8% in the 3rd quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate’s stock worth $1,443,000 after buying an additional 81 shares during the period. Finally, William Allan Corp increased its stake in 3M by 1.4% in the 4th quarter. William Allan Corp now owns 5,959 shares of the conglomerate’s stock worth $769,000 after buying an additional 82 shares during the period. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Stock Performance

Shares of NYSE MMM opened at $150.11 on Thursday. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. 3M has a 12 month low of $75.40 and a 12 month high of $155.00. The company has a 50 day simple moving average of $139.94 and a two-hundred day simple moving average of $134.31. The stock has a market cap of $81.49 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 3.29 and a beta of 0.96.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, beating the consensus estimate of $1.66 by $0.02. 3M had a net margin of 15.71% and a return on equity of 100.77%. The business had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.77 billion. During the same period in the previous year, the business posted $2.42 EPS. The business’s quarterly revenue was down 25.0% compared to the same quarter last year. As a group, analysts predict that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 1.95%. This is a positive change from 3M’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, February 14th. 3M’s payout ratio is 38.68%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Citigroup raised their price target on shares of 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Royal Bank of Canada reissued an “underperform” rating and set a $96.00 target price on shares of 3M in a research report on Wednesday, January 22nd. Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Barclays raised their target price on shares of 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Finally, Bank of America raised their target price on shares of 3M from $160.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $148.87.

Insider Activity

In other news, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $150.25, for a total transaction of $247,161.25. Following the completion of the sale, the insider now owns 5,153 shares of the company’s stock, valued at $774,238.25. This represents a 24.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Victoria Clarke sold 1,750 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $154.22, for a total transaction of $269,885.00. Following the sale, the executive vice president now directly owns 194 shares of the company’s stock, valued at $29,918.68. The trade was a 90.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,639 shares of company stock valued at $17,163,446 in the last three months. 0.38% of the stock is currently owned by corporate insiders.

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.