1,681 Shares in 3M (NYSE:MMM) Bought by Drum Hill Capital LLC

Drum Hill Capital LLC purchased a new position in 3M (NYSE:MMM) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,681 shares of the conglomerate’s stock, valued at approximately $217,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Financial Life Planners bought a new stake in 3M in the 4th quarter valued at about $25,000. FSA Wealth Management LLC acquired a new stake in 3M in the third quarter valued at approximately $27,000. Daymark Wealth Partners LLC raised its position in shares of 3M by 9.0% during the fourth quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 19,552 shares during the period. ORG Partners LLC lifted its holdings in shares of 3M by 44.1% in the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after purchasing an additional 98 shares in the last quarter. Finally, True Wealth Design LLC grew its position in 3M by 2,466.7% in the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock valued at $42,000 after purchasing an additional 296 shares during the period. 65.25% of the stock is owned by institutional investors.

3M Stock Down 2.8 %

3M stock opened at $144.87 on Friday. The firm has a 50 day moving average price of $140.62 and a 200-day moving average price of $134.56. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. 3M has a twelve month low of $75.40 and a twelve month high of $155.00. The company has a market capitalization of $78.65 billion, a P/E ratio of 19.19, a P/E/G ratio of 3.32 and a beta of 0.96.

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

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 14th will be paid a $0.73 dividend. This is a boost from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Friday, February 14th. 3M’s payout ratio is currently 38.68%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Barclays raised their price target 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. Royal Bank of Canada reissued an “underperform” rating and set a $96.00 price objective on shares of 3M in a report on Wednesday, January 22nd. UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and raised their target price for the company from $130.00 to $184.00 in a report on Wednesday, November 13th. Finally, Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $140.00 to $170.00 in a report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $148.87.

Insider Buying and Selling at 3M

In other 3M news, insider Christian T. Goralski, Jr. sold 6,318 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $149.43, for a total transaction of $944,098.74. Following the sale, the insider now owns 5,024 shares in the company, valued at $750,736.32. This represents a 55.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Michael F. Roman sold 49,598 shares of 3M stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $152.30, for a total value of $7,553,775.40. Following the completion of the transaction, the chairman now owns 180,895 shares of the company’s stock, valued at approximately $27,550,308.50. This trade represents a 21.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,639 shares of company stock valued at $17,163,446 over the last three months. 0.34% of the stock is currently owned by 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.