Natural Investments LLC Purchases Shares of 8,797 3M (NYSE:MMM)

Natural Investments LLC purchased a new stake in 3M (NYSE:MMM) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 8,797 shares of the conglomerate’s stock, valued at approximately $1,135,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Financial Life Planners purchased a new position in shares of 3M in the fourth quarter worth about $25,000. FSA Wealth Management LLC purchased a new position in shares of 3M in the third quarter worth about $27,000. True Wealth Design LLC raised its stake in shares of 3M by 2,466.7% in the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock worth $42,000 after purchasing an additional 296 shares during the last quarter. ORG Partners LLC raised its stake in shares of 3M by 44.1% in the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after purchasing an additional 98 shares during the last quarter. Finally, Catalyst Capital Advisors LLC raised its stake in shares of 3M by 81.5% in the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the conglomerate’s stock worth $47,000 after purchasing an additional 163 shares during the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

3M Stock Performance

Shares of 3M stock opened at $147.74 on Wednesday. 3M has a one year low of $81.23 and a one year high of $156.35. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The company has a market cap of $80.21 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 3.30 and a beta of 0.97. The business’s 50 day moving average price is $145.26 and its 200 day moving average price is $136.53.

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

3M Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th will be given a $0.73 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a yield of 1.98%. This is an increase from 3M’s previous quarterly dividend of $0.70. 3M’s payout ratio is currently 38.68%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Royal Bank of Canada restated an “underperform” rating and issued a $96.00 price objective on shares of 3M in a research note on Thursday, February 27th. Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Barclays lifted their price target on 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Bank of America lifted their price target on 3M from $175.00 to $179.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Finally, UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and lifted their price target for the company from $130.00 to $184.00 in a research report on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $149.13.

Insider Buying and Selling at 3M

In related news, Chairman Michael F. Roman sold 49,598 shares of the business’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $152.30, for a total value of $7,553,775.40. Following the sale, the chairman now owns 180,895 shares in the company, valued at approximately $27,550,308.50. The trade was a 21.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Victoria Clarke sold 1,750 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $154.22, for a total value of $269,885.00. Following the completion of the sale, the executive vice president now owns 194 shares in the company, valued at $29,918.68. This represents a 90.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,639 shares of company stock worth $17,163,446 over the last quarter. 0.34% of the stock is currently owned by company 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.