Capital Management Associates Inc Takes Position in 3M (NYSE:MMM)

Capital Management Associates Inc acquired a new stake in 3M (NYSE:MMM) during the second quarter, according to its most recent filing with the SEC. The firm acquired 6,510 shares of the conglomerate’s stock, valued at approximately $665,000.

Other institutional investors also recently bought and sold shares of the company. Gilbert & Cook Inc. purchased a new stake in 3M in the 4th quarter valued at approximately $481,000. Commonwealth Equity Services LLC lifted its holdings in 3M by 2.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 451,182 shares of the conglomerate’s stock valued at $49,323,000 after purchasing an additional 8,876 shares in the last quarter. Benjamin Edwards Inc. grew its holdings in shares of 3M by 2,994.8% during the fourth quarter. Benjamin Edwards Inc. now owns 1,795 shares of the conglomerate’s stock worth $196,000 after buying an additional 1,737 shares in the last quarter. Natixis Advisors L.P. raised its position in shares of 3M by 2.0% in the fourth quarter. Natixis Advisors L.P. now owns 91,669 shares of the conglomerate’s stock valued at $10,021,000 after buying an additional 1,829 shares during the last quarter. Finally, Aveo Capital Partners LLC purchased a new position in shares of 3M during the fourth quarter valued at approximately $219,000. 65.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MMM has been the topic of a number of recent analyst reports. Argus raised 3M from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a research note on Tuesday, July 30th. StockNews.com downgraded shares of 3M from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Vertical Research raised shares of 3M from a “hold” rating to a “buy” rating and raised their target price for the stock from $92.00 to $140.00 in a research report on Thursday, May 16th. Barclays boosted their target price on shares of 3M from $120.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Finally, Citigroup increased their price target on shares of 3M from $100.00 to $133.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, 3M currently has an average rating of “Moderate Buy” and an average price target of $124.38.

Insider Buying and Selling

In related news, CFO Theresa E. Reinseth sold 2,100 shares of the business’s 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 transaction, the chief financial officer now owns 4,364 shares in the company, valued at $541,659.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other 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 sale, the chief financial officer now owns 4,364 shares of the company’s stock, valued at $541,659.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 completion of the sale, the chairman now directly owns 174,036 shares in the company, valued at $21,486,484.56. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

3M Stock Up 1.3 %

NYSE MMM traded up $1.78 during trading hours on Friday, hitting $134.69. The company had a trading volume of 6,092,831 shares, compared to its average volume of 3,368,297. The firm’s 50 day moving average is $115.56 and its 200 day moving average is $103.70. The company has a market capitalization of $73.99 billion, a price-to-earnings ratio of -10.59, a P/E/G ratio of 2.49 and a beta of 0.95. 3M has a fifty-two week low of $71.12 and a fifty-two week high of $134.99. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.36 and a quick ratio of 1.08.

3M (NYSE:MMM) last announced its earnings results on Friday, July 26th. The conglomerate reported $1.93 EPS for the quarter, beating the consensus estimate of $1.68 by $0.25. 3M had a return on equity of 112.92% and a net margin of 3.08%. The business had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $5.85 billion. During the same period last year, the business posted $2.17 EPS. Sell-side analysts anticipate that 3M will post 7.2 earnings per share for the current fiscal year.

3M Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Monday, August 26th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Monday, August 26th. 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.